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2019 (8) TMI 1453 - AT - Income TaxReopening of assessment u/s 147 - LTCG addition - exemption u/s 54F - HELD THAT:- Two assessee were not represented. DR submitted that disputed issues in both the appeals may be restored to the file of Ld.CIT(A) with the direction to pass speaking orders. In the absence of any assistance from the side of the assessees, we are persuaded by the submissions of the Ld. DR. Accordingly, we set aside the orders of CIT(A) in the case of the two assessee, each dated 07.10.2016 and restore the disputed issues to the CIT(A) with the direction to pass a speaking order afresh in accordance with law, having regard to facts and circumstances of the case, after providing due opportunity to the assessee. Both these appeals filed by the assessee are disposed of in accordance with aforesaid direction. We explicitly clarify that the assessees will be at liberty to approach ITAT for restoration of the appeals in accordance with proviso to Rule 24 of Income Tax Appellate Tribunal Rules, 1963. If the assessee(s) do approach the Tribunal for restoration of the appeals, the matter will be considered in accordance with law as well as facts and circumstances.
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