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Shri Rajesh G. Mehta Versus ACIT, Central Circle-36, Mumbai.

2016 (11) TMI 1508 - ITAT MUMBAI

Assessment u/s 153C - assessee declared an amount as "short term capital gains" and claimed benefit of the provisions of section 111A of the Act relating to the "tax on short term capital gains" suo moto in certain cases - AO never mentioned that the above additional income is attributable to any incriminating material seized u/s 132 - Held that:- It is evident from the record that the AO did not have evidence / incriminating material to show that the said income of ₹ 28,12,544/- or deduct .....

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ty of being heard to the assessee. Assessee is also directed to make attendance without fail this time in the second round of proceedings before the first appellate authority. We order accordingly. Thus, grounds raised by the assessee are allowed for statistical purposes. - I.T.A. No.270/M/2016 - Dated:- 8-11-2016 - SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Appellant by : Mrs. V.M. Gadgil Respondent by : Shri Sanjay Bahadur, CIT-DR O R D E R PER D. KARUNAKAR .....

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e further argues in the grounds that this is the case of unabated assessment and the AO does not have free hand in making additions which are supported by the incriminating material. Further, assessee alleges that the adjudication by the CIT (A) was made exparte and therefore, the CIT (A) violated the principles of natural justice. The other issues raised in this appeal relate to the merits of the assessment order and the additions made therein. 3. Before us, there is a letter for adjournment da .....

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ion on behalf of the assessee. Therefore, there is a request for remanding this appeal to the file of the CIT (A) with a direction to grant further opportunity in addition to the details provided in para 3.2 of the impugned order. It is also brought to our notice that the issue relating to making of assessment in the absence of any incriminating material u/s 153A of the Act is unsustainable in law. 5. On hearing both the parties, we have perused the order of the AO dated 26.3.2014 and find the a .....

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