SH PRAKASH NARAYAN AGRAWAL ,GWALIOR vs. ACIT CIRCLE -2 , GWALIOR

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.

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.