AMJ MARKETING PRIVATE LIMITED ,NOIDA vs. ITO WARD-WARD 5(1)(1) G BUDH NAGAR, G BUDH NAGAR

The present appeal is filed by the Assessee against the order of Ld. Commissioner of Income Tax (Appeals/ National Faceless Appeal Centre (‘Ld. CIT(A)/NFAC’ for short), New Delhi dated 21/02/2025 for the Assessment Year 2019-20.

Brief facts of the case are that, an assessment order came to be passed on 28/03/2024 passed u/s 147 r.w. Section 144 of the Income Tax Act, 1961 ('Act' for short) by computing the income of the Assessee at Rs. 1,16,15,987/-by making certain additions. Aggrieved by the assessment order dated 28/03/2024, the Assessee preferred the Appeal before the Ld. CIT(A). The Ld. CIT(A) vide order dated 21/02/2025 , dismissed the Appeal filed by the Assessee. Aggrieved by the order of the Ld. CIT(A), the Assessee preferred the present Appeal.

None appeared for the Assessee. Considering the issue involved in the present Appeal we deem it fit to decide the Appeal on hearing the Ld. Department's Representative and perused the material available on record.

We have heard the Department's Representative and perused the material available on record. It can be seen from the order of the Ld. CIT(A) , that the Ld. CIT(A) dismissed the Ground No. 1 to 4 as general grounds. However, on looking into the grounds of Appeal it is found that in Ground No. 4 the Assessee put forth his grievance on the action of the A.O. of not granting the benefit of Index cost of acquisition/ construction/ improvement for industrial property, which is also confirmed by way of registered sale deed, Approved MAP/ sanction letter / Authority transfer permission/ audited books of account.The said Ground No. 4 being specific one the Ld. CIT(A) should have given its finding and decided the matter. In view of the above facts and circumstances, we set aside the order of the Ld. CIT(A) and remand the matter to the file of the A.O. with a direction to the Ld. CIT(A) to decide the Appeal afresh on its merits in accordance with law after providing opportunity of being heard to the Assessee.

In the result, the Appeal of the Assessee is partly allowed for statistical purpose.