9911796707
TMI Blog2024 (10) TMI 1079X X X X Extracts X X X X X X X X Extracts X X X X ..... learned Addl./Joint Commissioner of Income Tax (Appeals) ["learned Addl./Joint CIT(A)"], for the assessment year 2022-23. 2. Since all the appeals pertain to the trusts settled by Ion Exchange (India) Ltd. involving a similar issue arising out of a similar factual matrix, therefore, as a matter of convenience, these appeals were heard together and are being decided by way of this consolidated order. In all the appeals, the assessee trusts have raised similar grounds. For reference, the grounds raised by the assessee in the appeal being ITA No. 3153/Mum./2024 are reproduced as under:- "1. That on the facts and in the circumstances of the case, the Ld. Assessing Officer and the Ld. First Appellate Authority erred in facts as well as in la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income declared in the return of income, when the statute specifically permits an assessee to file an appeal against any order that the assessee is aggrieved against. 7. That on the facts and in the circumstances of the case, the Ld. AddI/JCIT(A) has erred in disposing off the appeal without granting the Appellant Trust an opportunity of being heard. 8. That the Appellant craves leave to add to or alter, by deletion, substitution, or otherwise, any or all of the foregoing grounds of appeal at or before the hearing, and to submit such statement, documents, and papers as may be considered necessary either at or before the appeal hearing." 3. We have considered the submissions of both sides and perused the material available on recor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on issued under section 143(1) of the Act assessing the assessee trusts as an AOP. Since the shares of employees, being the beneficiaries of the assessee trust were unknown, the tax liability was computed at Maximum Marginal Rate as per section 167B of the Act and demand was raised by adding a surcharge at 37% on dividend income as against the surcharge at 15% added by the assessee trust. 5. As per the assessee, since initially it was under the belief that the action of the AO was correct and that it had committed an error in computing the tax liability, it did not prefer any appeal against the aforesaid intimation within the limitation period. However, thereafter it sought professional advice on the correct legal position of law and upon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Assessing Officer having regard to the all the relevant material. Since the assessee's rectification application in this regard is also pending consideration under section 154 of the Act, we deem it appropriate to restore the issue on merits to the file of the Jurisdictional Assessing Officer for consideration afresh after examination and verification of all the necessary details/documents. Needless to mention no order shall be passed without affording a reasonable and adequate opportunity of being heard to the assessee trusts. Further, we direct the assessee to furnish all the details before the AO in support of its claim and also furnish any other document as may be required by the AO. With the above directions, the impugned orders ar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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