VIJAY CHIMAJI SHINDE,PUNE vs. INCOME TAX OFFICER, WARD- 4(5), PUNE

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ITA 1278/PUN/2023Status: DisposedITAT Pune27 March 2024AY 2015-16Bench: SHRI SATBEER SINGH GODARA (Judicial Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the National Faceless Appeal Centre (NFAC) did not address the merits of the deemed dividend addition as required. Therefore, the appeal is restored to the NFAC for fresh adjudication.

What were the facts?

The assessee's appeal concerns an addition of Rs. 16,84,370/- made under section 2(22)(e) of the Income Tax Act, 1961, representing loans availed from M/s. Precision Agritech Pvt. Ltd. The assessee contended that the lower appellate authority failed to deal with the merits of the case.

What were the issues?

Whether the lower appellate authority properly adjudicated the merits of the deemed dividend addition. The failure of the NFAC to deal with the substantive grounds of appeal.

Which sections of the Income-tax Act were involved?

Section 2(22)(e),Section 147,Section 144B,Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE “SMC” BENCH : PUNE [VIRTUAL HEARING]

Before: SHRI SATBEER SINGH GODARA

Hearing: 14.03.2024Pronounced: 27.03.2024

Date of Hearing : 14.03.2024 Date of Pronouncement : 27.03.2024 ORDER PER SATBEER SINGH GODARA, J.M. :

This assessee’s appeal for assessment year 2015-16, arises against the National Faceless Appeal Centre [in short the “NFAC”] Delhi’s Din and Order No.ITBA/NFAC/S/250/2023-24/1056999742(1), dated 12.10.2023, involving proceedings u/s.147 r.w.s.144B of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties at length. Case file perused.

2.

Coming to the assessee’s sole substantive grievance herein seeking to reverse both the learned lower authorities action making section 2(22)(e) deemed dividend addition of Rs.16,84,370/- representing loans availed from M/s. Precision Agritech Pvt. Ltd., the Revenue could hardly dispute that the 2 ITA.No.1278/PUN/2023 Vijay Chimaji Shinde learned NFAC impugned lower appellate discussion has nowhere dealt with the merits thereof as contemplated u/s.250(6) of the Act. Faced with this situation, the assessee’s substantive ground pleaded in the instant appeal is hereby restored to the NFAC for fresh appropriate adjudication in accordance with law, preferably within three effective opportunities of hearing subject to rider that it shall be the assessee’s onus only to plead and prove all facts with the relevant evidences in consequential proceedings.

3.

This assessee’s appeal is allowed for statistical purposes in above terms.

Order pronounced in the open Court on 27th March, 2024.

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