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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Satbeer Singh Godara & Shri Amarjit Singh
O R D E R Per Bench This assessee’s appeal for A.Y. 2015-16 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/NFAC/S/250/2023- 24/1053686304(1) dated 13.06.2023 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).
Heard both parties at length. Case file perused.
It emerges at the outset from a perusal of the CIT(A)/NFAC lower appellate discussion in para 5.3.2 that he has restored the assessee’s section 54F deduction claim to the Assessing Officer which is no more sustainable in light of the statutory Chiramal Kunjavoo Chakunny George amendment in section 251(1)(a) w.e.f. 01.06.2001 as the corresponding statutory expression ‘he may set aside’ stands omitted. Learned counsel further submits that the assessee has filed his additional submissions before the CIT(A) in light of Goetze (India) Ltd. v CIT [(2006) 284 ITR 323 (SC)] as well which has not been adjudicated on merits.
Be that as it may, once we restore the assessee’s instant case back to the Assessing Officer, we make it clear that the taxpayer shall indeed be at liberty to plead and prove all the facts within three effective opportunities of hearing at his own risk and responsibility in consequential proceedings. Ordered accordingly.
This assessee’s appeal is allowed for statistical purposes in above terms.