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TMI Blog2022 (8) TMI 1572X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Revenue are reproduced as under: 1. Whether on the facts and circumstances of the case and in law, the Id. CIT (A) has erred in granting the relief to the assessee, on the issue of granting advance of Rs. 4,39,75,000/ to M/s Ritika Hotels Pvt. Ltd, by relying on CIT (A) order dated 29.05.2011 in A.Y. 2008 2009, while ignoring the fact that Hon'ble ITAT Mumbai vide its order in ITA NO. 5803 / M * UM / 2011 dated 31.07.2015, has set aside the CIT (A) order dated 29.05.2011 back to the file of Id. CIT (A) for de novo adjudication and that the said appellate order dated 29.05.2011 is not in existence?" 2. "Whether on the facts and circumstances of the case and in law, the Id. CIT (A) has erred in concluding that the provisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the facts that Notice for reopening the assessment was without complying the requirement of Section 151(2) of the Act and not providing reasons recorded for reopening was in gross violation of principles of natural justice and reassessment. 2. Whether on the facts and circumstances of the case and in law the Learned CIT (A) failed to consider that to attain the jurisdiction the service of a notice under section 143 (2) is mandatory and any assessment without notice would be against the principles of natural justice and order would be invalid. 3. Whether on the facts and circumstances of the case and in law the Learned CIT (A) erred in considering the fact that as provided in Section 144 (1) of I.T. Act to provide an opportunity bef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bstantial interest. On further appeal, the assessee filed additional evidence before the Ld. CIT(A). The Ld. CIT (A) after considering the remand report of the Assessing Officer and rejoinder of the assessee, directed the Assessing Officer to grant exemption to the assessee u/s 11 of the Act. 4. Before us, the Ld. Counsel of the assessee has filed a Paper Book containing pages 1 to 60. 5. We have heard rival submissions of the parties on the is use-in-dispute and perused the material on record. In the case of the assessee addition in assessment year 2008-09 was made on the ground that interest-free advances have been granted to the persons covered u/s 13(3) of the Act and therefore, the assessee was not entitled for exemption u/s 11 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s issue deserves to be restored to the file of the learned CIT (A) for denovo adjudication after examining all the evidences which the assessee may place before the learned CIT (A) to decide the issue with the help of actual facts and figures, as to whether the interest free advance was given for the benefit of the assessee trust, or for the benefit of the trustees. The questions that came to our mind some of which have been referred to herein above, need to be answered with the help of evidences and in addition to that the learned CIT (A) is free to call for any other details / evidence to decide the issue as per law and facts. We thus set aside the impugned order passed by the learned Commissioner (Appeals) and allow ground no.1, raised b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tika Arun Kumar Muchhala were also directors in Ritika Hotels Pvt. Ltd. It could be seen that as per the MOU between the Trust and Ritika Hotels Pvt. Ltd., it was mentioned that developers shall be entitled to retain the 5th floor of the building for their own exclusive and the bona fide use, however no direct benefit to/advantage has been given to these persons. 5.9 From the remand report of the Assessing Officer, it could be observed that no evidence has been brought on record against the appellant to prove that the provisions of Section 13(1)(c)(ii) could be applied to the appellant's case. Appellant had clearly established that the advances made to the trustee Shri. Arun Kumar Muchhala was towards purchase of vacant plot/land for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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