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2024 (1) TMI 651 - ITAT MUMBAIDetermination of date of acquisition for the purpose of ascertaining any income u/s 56 (2) (x) (b) - purchase of immovable property where the purchase value is less than the stamp value determined by authority - whether the date of acquisition of the property should be considered by the letter dated 13/4/2007 wherein the assessee has demonstrated that he has paid a sum of Rs 5 lakhs for booking of the commercial property? - AO has disregarded this argument for the reason that the letter dated 13/4/2007 did not identify the property as well as did not mention the actual consideration agreed between the parties and therefore such allotment letter cannot be considered as the date of acquisition of the property HELD THAT:- It is not the case of the assessee that notices have not been received at that email address or on the ITBA portal. Before us in form number 36 also the assessee has given the same email address. Therefore, non-receipt of the notice cannot be believed. However, it is also the fact that the learned CIT – A should have given a detailed reason on the ground of appeal raised by the assessee in terms of provisions of section 250 (6) of the act. CIT appeal without considering the merits of the case has merely upheld the action of the learned assessing officer. Therefore, the order of the learned CIT – A is not in accordance with the provisions of section 250 (6) of the act as in the ground of appeal there was a specific ground raised about the addition of Rs. 14,098,500. In view of the above facts and in the interest of natural justice we restore the appeal of the assessee back to the learned CIT – With a direction to the assessee that as soon as the window is available for submission of detailed by the learned CIT – A, assessee must submit the detail within the prescribed time which may be considered by the learned CIT – A and decide issue on the merits of the case. Appeal filed by the assessee is allowed for statistical purposes.
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