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Income Tax Appellate Tribunal, MUMBAI BENCH G, MUMBAI
Before: SHRI NARENDRA KUMAR BILLAIYA, HONBLE & SHRI RAHUL CHAUDHARY, HONBLE
O R D E R PER NARENDRA KUMAR BILLAIYA (AM)
This appeal by the assessee is preferred against the order dated 04.10.2023 by National Faceless Appeal Centre, Delhi [hereinafter in short “Ld. CIT(A)”] pertaining to A.Y.2021-2022.
(A.Y: 2021-22) SUPARNA MODY TRUST 2. The grievance of the assessee read as under: - “1. The National Faceless Appeal Centre Commissioner of Income-tax (Appeals) [CIT(A)] has erred in dismissing the appeal without providing due opportunity of being heard and also not deciding on merit of the case. On the facts and circumstances of the case and in law, order passed by the CIT(A) is unjustified, illegal, against the provision of the Act and against the principles of natural justice. The below grounds are without prejudice to ground no 1: 2. The learned CIT (A) has erred in confirming the action of AO of computing LTCG chargeable @10% under section 112A at Rs. 8,07,055/- without allowing set off of loss under section 112A Rs. 3,20,275/-. On the facts and circumstances of the case, the long-term capital loss of Rs. 3,20,275/- ought to be set off against the long-term capital gain of the year.
3. The learned CIT (A) has erred in confirming the action of AO of computing surcharge of Rs. 24,39,738/- (@37.89% on total assessed income), instead of slab wise rate provided in the Act. On the facts and circumstances of the case, the surcharge on Dividend and Capital gains u/s 112A& 111A should be restricted to 15% and on balance income the surcharge has to be restricted to 25% as computed by appellant.
4. The appellant craves leave to add, alter, amend and/or rescind any grounds of appeal during the course of the hearing.”
None appeared on behalf of the assessee, in spite of the notice. We decide to proceed exparte. Ld. DR was heard at length. Case records carefully perused.
On perusal of the order of the First Appellate Authority show that the appeal of the assessee has been dismissed in limine. In the interest
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(A.Y: 2021-22) SUPARNA MODY TRUST of justice and fair play, we deem it fit to restore the appeal to the file of the Ld. CIT(A). The Ld. CIT(A) is directed to decide the appeal afresh on merits of the case, after affording a reasonable and adequate opportunity of being heard to the assessee and after serving a proper notice.
In the result, appeal filed by the assessee is allowed for statistical purpose.
Order pronounced in the open court on 30th April, 2024.