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Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether the addition on account of alleged erroneous claim of cost of improvement in capital gains could be sustained when the assessee was not afforded proper opportunity of hearing before the first appellate authority.
Analysis: The appellate authority declined the adjournment request without dealing with the reasons for seeking adjournment. As the assessee's junior counsel had appeared and sought adjournment, and the order did not reflect consideration of the grounds for refusal, the matter called for reconsideration in the interest of justice. The issue was therefore restored to the file of the first appellate authority for a fresh decision after granting adequate opportunity of hearing.
Conclusion: The addition was not finally sustained and the matter was remanded for fresh adjudication after affording the assessee an opportunity of being heard.
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