TMI Blog2024 (1) TMI 651X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the learned assessing officer in assessing the income of Rs. 19,923,680 where the assessee failed to substantiate against the addition made by the learned assessing officer of Rs. 14,098,500. 02. The assessee is aggrieved with that appellate order and has preferred appeal before us raising following grounds of appeal:- The learned Commissioner of income tax appeal erred in making an addition of Rs 14,098,500 under section 56 (2) (x) (b) details of which are as under:- Relevant sections issue 56 (2) (x) (b) Addition of Rs. 1,40,98,500 under section 56 (2) (x) (b) Ground of appeal Agreement value Value as p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allotment letter issued by the builder stated that assessee has purchased a commercial property in project Druan Height . According to that letter, the assessee has paid an advance of Rs. 5 lakhs on 1/7/2006 to the builder. The builder has also given a confirmation by letter dated 9/2/2021 where the name of the project has changed to Grand Sethia now residential property. Therefore, the claim of the assessee is that stamp duty value may be considered as on 1/7/2016, which is the date of allotment of the flat coupled with payment of consideration also. The learned assessing officer noted that in the allotment letter dated 13/4/2007 the property was not identified as well as full value of the consideration was not stated therein and there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. Before us, assessee submitted a detailed paper book containing 253 pages and a convenience compilation of 9 pages. The learned authorized representative submitted that the assessee was issued allotment letter on 13 April 2007 wherein assessee was allotted a commercial premises on third floor and one basement parking in project Draun Height at plot bearing number 610 and 629 of village Bandra ( E ) Teachers colony, off Western express Highway, Mumbai 51. That letter also confirmed that the assessee has paid a sum of Rs 5 lakhs by cheque number 055808-dated 1/7/2006 of Oriental Bank of commerce. Subsequently, on 6 December 2020 it was stated by the builder to the assessee that the name of the project has changed to Sethia Grandeur and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The learned departmental representative vehemently submitted that assessee has failed to respond to the any of the notices issued by the learned CIT A and therefore the learned CIT A did not have any other option but to decide the issue on the merits of the case wherein he has upheld the action of the learned assessing officer and therefore there is no infirmity in the order of the learned CIT A. 09. We have carefully considered the rival contention and perused the orders of the lower authorities. The only dispute in this appeal is 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 after giving proper opportunity of hearing, if asked. Accordingly, the solitary ground of appeal of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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