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Income Tax Appellate Tribunal, BANGALORE BENCH ‘SMC’, BANGALORE
Before: SHRI A.K.GARODIA, ACCOUNANT MEMBER
O R D E R PER A. K. GARODIA, A.M.: This appeal is filed by the assessee. This is directed against the order of learned CIT (A) – 2, Bangalore dated 31.03.2016 for A. Y. 2002 – 03.
The assessee has only one grievance that the A.O. has not rectified the computation of capital gain u/s 154.
Learned AR of the assessee submitted that the order passed by the A.O. is not a reasoned and speaking order and therefore, the matter should be restored to A.O. for passing a reasoned and speaking order. Learned DR of the revenue supported the order of CIT (A).
I have considered the rival submissions and perused the material on record. I find that as per the order passed by the A.O., there is no basis or reasoning indicated by him for holding that there is no mistake apparent from records and hence, I feel it proper to restore the matter to A.O. for passing a reasoned and speaking order. I order accordingly. The A.O. should pass a reasoned and speaking order as per law after affording adequate opportunity of being heard to the assessee.
In the result, the appeal of the assessee is allowed for statistical purposes.
Order pronounced in the open court on the date mentioned on the caption page.