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Income Tax Appellate Tribunal, “E” Bench, Mumbai
Before: Shri B.R. Baskaran (AM)& Shri Ramlal Negi (JM)
O R D E R Per B.R. Baskaran (AM) :-
The appeal filed by the assessee is directed against the order dated 26.9.2011 passed by the learned CIT(A)-30, Mumbai and it relates to A.Y. 2006-07. The assessee is aggrieved by the decision rendered by the learned CIT(A) on the following issues :- a) Rejection of deduction claimed u/s. 54 of the Act. b) Disallowance of expenses claimed against interest income. c) Disallowance of claim made while computing house property income. d) Rejection of claim for exemption of long term capital gains. e) Assessment of short term capital gains as income from other sources.
Learned counsel appearing for the assessee submitted that the assessee could not properly submit the details before the tax authorities. He further submitted that the representatives of the assessee also did not properly represent the matter before the tax authorities. He submitted that the Assessing Officer has made additions only for want of evidences. He further
2 Sanjay H. Panjabi submitted that the assessee has furnished all the evidences in the paper book filed before the Tribunal. Accordingly, he submitted that the matter may be restored to the file of the Assessing Officer for examining all the issues afresh.
On the contrary, learned Departmental Representative submitted that the additions have been made by the tax authorities since the assessee did not cooperate with them.
We have heard the rival contentions and perused the record. We noticed that the Assessing Officer has made all the additions mainly on account of non-furnishing all the details called for by him. Now, learned AR submitted that the details have since been collated and accordingly prayed that all the matter may be restored to the file of the Assessing Officer. It is also the contention of the assessee that the representatives who appeared before the tax authorities did not present the facts properly. Hence, in the interest of natural justice, we are of the view that all the issues require fresh examination at the end of the Assessing Officer by duly considering the information/explanation that may be furnished by the assessee. Accordingly, we set aside the order passed by the learned CIT(A) on all the issues and restore them to the file of the Assessing Officer with the direction to examine them afresh by duly considering the information/explanations that may be furnished by the assessee. After providing adequate opportunity of being heard to the assessee, the Assessing Officer may take appropriate decision in accordance with the law.
In the result, appeal filed by the assessee is treated as allowed for statistical purposes.
Order has been pronounced in the Court on 13.4.2017.