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Facts
The assessee filed an appeal against the order of the CIT(A)/NFAC, which upheld the addition of long-term capital gains of Rs. 3,99,18,000/- derived from the sale of property. The assessee presented additional evidence related to a lease deed for rentals, not a sale of capital assets.
Held
The Tribunal considered the additional evidence presented by the assessee as relevant. The Tribunal restored the appeal to the Assessing Officer for fresh adjudication and factual verification, allowing three effective opportunities to the assessee to prove its case.
Key Issues
Whether the addition of long-term capital gains was justified, and if additional evidence presented by the assessee should be considered for re-adjudication.
Sections Cited
143(3)
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Income Tax Appellate Tribunal, DELHI BENCH ‘G’, NEW DELHI
Before: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahman
Asstt. Year : 2018-19 Simla Chemicals Pvt. Ltd. Vs DCIT, A-76, Phase-1, Naraina Industrial Circle-22(2), Area, New Delhi-110028 New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AAACS0849J Assessee by : Sh. K. Sampath, Adv. & Sh. V. Rajkumar, Adv. Revenue by : Sh. Mahesh Kumar CIT-DR Date of Hearing: 01.09.2025 Date of Pronouncement: 01.09.2025 ORDER
Per Satbeer Singh Godara, Judicial Member:
This assessee’s appeal for Assessment Year 2018-19, arises against the CIT(A)/NFAC, Delhi’s DIN & order No. ITBA/NFAC/S/250/2024-25/1074119604(1) dated 06.03.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties at length. Case file perused.
Coming to the sole substantive issue between the parties herein, it emerges that the assessee/appellant is aggrieved against both the learned lower authorities’ action adding the alleged long term capital gains of Rs.3,99,18,000/- in it’s hands as derived from sale of property, in assessment order Simla Chemicals Pvt. Ltd. dated 28.09.2021 and upheld in the lower appellate discussion, learned counsel invites our attention to the assessee’s petition under Rule 29 of the Income Tax (Appellate Tribunal) Rules dated 30.08.2025 inter alia seeking to place on record it’s application dated 19.03.2025 submitted to Deputy Inspector General, Registrar and Stamp Jaipur, the latter’s certificate dated 19.05.2025 and updated Form 26-AS, respectively.
The assessee’s case accordingly is that it’s above additional evidence is very much relevant for adjudication of the sole substantive issue herein which is fairly not disputed at the department’s behest.
That being the case and in light of the fact that the assessee claims to have executed a lease deed for rentals in light of the foregoing additional evidence than any sale or transfer of it’s capital asset(s), we deem it appropriate to restore it’s instant appeal back to the learned Assessing Officer for it’s afresh appropriate adjudication and necessary factual verification to this effect in the larger interest of justice subject to a rider that it shall plead and prove the case, within three effective opportunities at his own risk and responsibility, in consequential proceedings. Ordered accordingly.