Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “SMC” BENCH, AGRA
Before: SHRI SATBEER SINGH GODARA & SHRI MANOJ KUMAR AGGARWAL
O R D E R PER SATBEER SINGH GODARA, JUDICIAL MEMBER:
This assessee’s appeal for assessment year 2011-12 arises against Additional/Joint Commissioner of Income Tax(Appeals)/National Faceless Appeal Centre [in short, the “Addl/JCIT(A)/NFAC”]-1 Coimbatore’s DIN and Order No. ITBA/APL/S/250/2023- 24/1058873589(1) dated 19.12.2023, involving proceedings u/s 143(3) r.w.s. 147 of the Income-tax Act, 1961, [hereinafter referred to as the ‘Act’].
Coming to the substantial issue between the parties regarding the correctness of the ld. lower authorities action in computing the assessee’s long term capital gain amounting to Rs.13,57,969/- made in the course of assessment framed on 16.11.2018 as upheld in the lower appellate discussion, it emerges during the course of hearing that no reference u/s 50C(2) of the Act was made to DVO which has been held as mandatory in Sunil Kumar Agarwal Vs. CIT (372 ITR 82) (Cal.).
4. That being the clinching case as emanating from the case file, we restore the assessee’s instant appeal back to learned Assessing Officer for his afresh adjudication in very terms. Ordered accordingly.
This assessee’s appeal is allowed for statistical purposes.
Order Pronounced in the Open Court on 10.02.2025.