2014 (6) TMI 142

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....ts: The ld. CIT(A) erred in not entertaining the bonafide claim of the Appellant qua Revised computation which was inadvertently omitted while filing Original Return. As the claim had been made bonafidely before the completion of Assessment Proceeding and through a proper channel, the Ld. CIT(A) is not correct to derecognize the same on technical parameters. MERITS: 2. Addition on account of Transfer Fees and TDR premium The ld. CIT(A) erred in confirming the addition on account of Transfer Fees (Rs.7,64,271/-) and TDR premium (Rs.26,80,203/-) without appreciating to the fact that the impugned receipts of the Society are not tainted with commerciality and as the principle of mutuality applies, the ld. CIT(A) is at wrong to derec....

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....ords. We may observe that the Hon'ble Bombay High Court in the case of 'Pruthvi Brokers & Shareholders Pvt. Ltd.' ITA No.3908 of 2010 decided on 21.06.12, while relying upon the various decisions of the Hon'ble Supreme Court and other Hon'ble High Courts has held that even if a claim is not made before the AO it can be made before the appellate authorities. The jurisdiction of the appellate authorities to entertain such a claim is not barred. The Hon'ble High Court while relying upon the decision of the Hon'ble Supreme Court in the case of 'Jute Corporation of India Limited vs. CIT' 1991 Supp (2) SCC 744 = (1991) 187 ITR 688 has observed that the power of the Appellate Commissioner is coterminous with that of the Income Tax Office and an....

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....) 157 Taxman 1, relating to the restriction of making the claim through a revised return was limited to the powers of the Assessing Authority and the said judgment does not impinge on the power or negate the powers of the appellate authorities to entertain such claim by way of additional ground. 5. Further, in our view, while refusing to take into consideration the relevant claim of the assessee which was very much necessary for the just decision of the case, ld. CIT(A) failed to exercise his appellate jurisdiction under section 250 of the Act. The duty was also cast upon the ld. CIT(A) to admit and consider the evidence produced before him by the assessee. The Hon'ble Bombay High Court in the case of 'Smt. Prabhavati S. Shah v. CIT' (19....