TMI Blog2023 (5) TMI 1064X X X X Extracts X X X X X X X X Extracts X X X X ..... essee s appeal in respect of the computation of long-term capital gains. There is no examination of the correct residential status of the assessee by any of the lower authorities. Therefore, in view of the above and in the interest of justice, we deem it appropriate to restore both issues to the file of the AO for de novo adjudication after considering the details filed by the assessee pertaining to his residential status as well as the documents/information furnished before the learned CIT(A) as additional evidence. Grounds raised by the assessee are allowed for statistical purposes. - ITA No. 473/Mum./2023 - - - Dated:- 24-5-2023 - Shri B.R. Baskaran, Accountant Member And Shri Sandeep Singh Karhail, Judicial Member For the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accepting the balance sheet and capital accounts of financial years 2005-06 to 2010-11 filed with the Assessing Officer and also clearly communicating to the Assessing Officer that the assessment for the assessment year 2008-09 was made u/s 143(3) of the Income tax Act, 1961 wherein the copies of the balance sheet and capital account were duly filed at the time of assessment by your Appellant which clearly mention the cost value of the said shares. 5. THAT the Commissioner of Income tax (Appeals] has erred in law as well as under the circumstances of the case in passing the Order without going through the records of the case and seeing that an application under Rule 46A of Income tax Rules, 1962 was already filed by your appellant wher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 55,788 on the sale of shares. Accordingly, the assessee was asked to furnish details of long-term capital gains. In response thereto, the assessee furnished the following details:- Date of Purchase Name of Script Qty Amount Date of Sale Amount LTCG 24/05/2005 Devashish Builder Private Limited 1,88,000 81,04,212 30/03/2011 1,78,60,000 97,55,788 Total 97,55,78 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cquisition of shares at Rs.81,04,212, the assessee also furnished additional documents, which could not be filed during the assessment proceedings, along with an application under Rule 46A of the Income Tax Rules, 1962. However, the learned CIT(A), vide impugned order, dismissed the appeal filed by the assessee on both issues. Being aggrieved, the assessee is in appeal before us. 6. We have considered the submissions of both sides and perused the material available on record. It is the plea of the assessee that the assessee is a non-resident for the past 10 years and has been filing its return of income in the status as non-resident‟. Further, as per the assessee, he was in India, during the year under consideration, only for 65 d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shish Builders Private Limited 6. Copies of concerned share certificates 7. Copies of Balance Sheet for the financial years 2004-05 to 2009-10 clearly mentioning the holding of shares 8. Copy of Assessment order for the assessment year 2008-09 passed under section 143(2) of the Income tax Act, 1961 on 13th December, 2010 clearly mentioning that the assessee has filed the Balance Sheet and Capital Account for the year ended 31st March, 2008. 9. Copy of Acknowledgement of Return of Income filed for the assessment year 2006-07 filed by Smt. Saroj Bardiya ..... X X X X Extracts X X X X X X X X Extracts X X X X
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