9911796707
TMI Blog2019 (1) TMI 2027X X X X Extracts X X X X X X X X Extracts X X X X ..... being bad in law. 2. On the facts and in the circumstances of the case, the ld. Pr. CIT erred in setting aside the assessment order dated 23rd February, 2016 passed by the DCIT, Circle- 5(2), Ahmedabad and directing the Assessing Officer to pass a fresh Assessment Order. 3. The appellant craves to add, alter amend and/or withdraw any ground or grounds of appeal either before or during the course of hearing of the appeal. 2. Briefly stated the facts of the case are that the assessee earned income from business of finance, house property, salary and other sources. And assessee case was selected for scrutiny notice u/s. 143(2) was issued and ld. A.O. made detailed enquiry and each and every aspect of the income including trading of share ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stly the assessee submit herewith contract note for sale transaction reported from sr. no. 1 to 4 and 10 vide Annexure - 3. With this the assessee state that all share sale transactions were duly considered in his return of income and accordingly leaves no scope for any adverse inference. 2 7,41,378 19/03/2013 3 38,72,500 19/03/2013 4 2,32,650 19/03/2013 10 3,87,750 19/03/2013 5 7,50,880 22/03/2013 The sale transaction is in respect of sale of 6500 shares of NCL Research. A statement giving the detailed particulars of purchase, sale and Long term capital gain offered in respect of sale of shares of NCL Research is attached herewith vide Annexure -1. Further a contract for purchase of shares of NCL research is attached herewi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TO in ITA No. 731/Kol/2018 dated 12.12.2018 wherein solitary issue : "The sole issue of assessee's appeal is against the action of the Ld. CIT(A) in confirming the addition of Rs. 46,83,7907- made to the total income of the assessee by not accepting the assessee's claim of Long Term Capital Gain (LTCG) on sale of shares of M/s. NCL Research Ltd. (in short "NCL")." 5. ITAT decided the matter in favour of Assessee holding " since AO/Ld. CIT(A) could not find any fault or specific adverse materials against the assessee/broker/scripts of M/s. NCL, the addition u/s. 68 cannot be sustained. The addition based on a common/general report of DIT(Inv.) and there is nothing in the report specifically against the assessee, cannot be the basi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g channel and held for around two years in the demat account of the assessee and long term capital gain was claimed by the assessee. 10. We consider that the assessee could not appear before the ld. Pr. CIT, Therefore in the interest of justice, we consider it to appropriate that one more opportunity of hearing should be granted to the assessee. 11. We would like to make it clear that before passing any order, ld. Pr. CIT may also be consider the order passed by the Kolkata ITAT in ITA No. 731/Kol/2018 in the case of Smt. Minu Gupta vs. ITO (Kolkata). 12. In the light of the aforesaid facts and circumstances, we restore this case to the file of Pr. CIT for deciding de novo after examination of details to be submitted by the assessee and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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