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Facts
The assessee's appeal for assessment year 2010-11 arose against the order of the CIT(A)/NFAC. The CIT(A) had affirmed the Assessing Officer's action of adding Rs. 20,545/- as short-term capital gain and Rs. 61,90,598/- as business income from the sale of shares.
Held
The Tribunal noted that the CIT(A) had affirmed the Assessing Officer's action without ensuring compliance with Section 250(6) of the Act, which requires framing points of determination before adjudication. Therefore, the Tribunal restored the appeal to the CIT(A) for fresh adjudication.
Key Issues
Whether the CIT(A) followed the due procedure under Section 250(6) of the Income-tax Act before adjudicating the appeal.
Sections Cited
147, 250(6)
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Income Tax Appellate Tribunal, “DB” BENCH, AGRA
Before: SHRI SATBEER SINGH GODARA & SHRI MANOJ KUMAR AGGARWAL
ORDER
PER SATBEER SINGH GODARA, JUDICIAL MEMBER:
This assessee’s appeal for assessment year 2010-11 arises against Commissioner of Income Tax(Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and Order No. ITBA/NFAC/S/250/2021-22/1042155215(1) dated 30.03.202, involving proceedings u/s 147 of the Income-tax Act, 1961, [hereinafter referred to as the ‘Act’].
Heard both the parties at length. Case file perused.
Prakash Narayan Agrawal
It emerges during the course of hearing that the learned CIT(A) has affirmed the Assessing officer’s action adding Rs.20,545/- as short term capital gain and holding profits from sale of shares of Rs.61,90,598/- as business income than capital gains, in the course of assessment framed on 06.03.2014, without having ensured compliance to Section 250(6) of the Act requiring him to first frame the points of determination than followed by speaking adjudication thereof.
That being the case, we deem it appropriate in the larger interest of justice to restore the assessee’s instant appeal back to the learned CIT(A) for afresh appropriate adjudication preferably within three effective opportunities, in consequential proceedings. Ordered accordingly.
This assessee’s appeal is allowed for statistical purposes.
Order pronounced in the open court on 12.02.2025