SRI K. GOPAL RAJU, L/R OF LATE SRI. A S KUPPA RAJU,BANGALORE vs. INCOME-TAX OFFICER, BANGALORE

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ITA 1097/BANG/2016Status: DisposedITAT Bangalore23 September 2016AY 2002-032 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the Assessing Officer's order lacked reasoning for rejecting the rectification application. Therefore, the matter was restored to the Assessing Officer to pass a reasoned and speaking order.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order concerning the computation of capital gains. The assessee contended that the Assessing Officer's order was not reasoned and requested it be restored for a proper order.

What were the issues?

Whether the Assessing Officer passed a reasoned and speaking order while rejecting the rectification application for capital gains computation.

Which sections of the Income-tax Act were involved?

Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘SMC’, BANGALORE

Before: SHRI A.K.GARODIA, ACCOUNANT MEMBER

For Appellant: Shri Narendra Sharma, Advocate
For Respondent: Shri Naresh Saka JCIT

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.

2.

The assessee has only one grievance that the A.O. has not rectified the computation of capital gain u/s 154.

3.

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).

4.

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.

5.

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.

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