Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

December 2022

39. In case the assessee’s prayer on facts is not to be accepted, a reasonable opportunity of being heard is to be granted putting the issue to the notice of the assessee.

By Jagdish Punjabi, Chartered Accountant
Devendra Jain, Advocate
Reading Time 4 mins
Surinder Kumar Malhotra vs. ITO
ITA No. 240/Chd./2020
A.Y.: 2011-12
Date of order: 9th September, 2022
Section: 54F

39. In case the assessee’s prayer on facts is not to be accepted, a reasonable opportunity of being heard is to be granted putting the issue to the notice of the assessee.

FACTS

The present appeal was filed by the assessee, for A.Y. 2011-12, being aggrieved by the order dated 11th March, 2022 passed by NFAC, Delhi acting as First Appellate Authority. The assessee was inter alia aggrieved by the CIT(A) confirming the disallowance of claim of deduction under section 54F of the Act by ignoring the applicable judicial precedents including the jurisdictional High Court of Punjab and Haryana.

The claim of the assessee was disallowed on the grounds that the sale proceeds have been applied for acquiring two separate properties. The assessee had in statement of facts pleaded that these were adjoining properties and may be treated as a single unit in terms of various decisions available.

The CIT(A) dismissed the appeal on the legal issue and in para 6 of his order stated that the assessee has not argued anything further.

Aggrieved, the assessee preferred an appeal to the Tribunal.

HELD

The Tribunal noticed and drew the attention of the DR to the statement of facts recorded by the CIT(A)
Read More
Download PDF

You May Also Like

38. MA filed on the ground that the Revenue has filed an appeal u/s 260A of the Act with the Bombay High Court in the case on which reliance was placed while deciding the appeal and also in view of subsequent SC order dismissed.

40. Where the assessee had paid indirectly higher tax than actually liable, it shows that there was no malafide intention on the part of the assessee and the Department had no revenue loss. Since there is no revenue loss to the Department, therefore, there is no question of levying penalty on the assessee.