MANGAL BABASAHEB BANDAL,PUNE vs. INCOME TAX OFFICER,WARD 6(5), PUNE, PUNE

The sole ground raised by the assessee challenging the action of CIT(A) in confirming the order of AO in invoking the provisions of section 50C of the Act.

We note that the assessee is an individual, filed return of income in response to the notice issued u/s. 148 of the Act declaring income at Nil. The AO made addition of Rs.2,94,680/- on account of Long Term Capital Gain. The CIT(A) confirmed the same ex-parte of the assessee. We note that the ld. AR has undertaken that the assessee is ready to prosecute his case by filing relevant evidences in support of grounds raised in Form No. 35 before the CIT(A) and taking into the said undertaking, in view of the facts and circumstances of the case, we deem it proper to remand the matter to the file of CIT(A) for his fresh consideration. We also make it clear that the assessee shall comply with the notices issued by the CIT(A) without fail, failing which the CIT(A) is directed to dispose off the appeal, in accordance with the law as contemplated under sub-section (6) of section 250 of the Act. Further, the assessee is liberty to file evidence, if any, in support of his claim. Thus, the grounds raised by the assessee are allowed for statistical purpose.

In the result, the appeal of assessee is allowed for statistical purpose.