2019 (6) TMI 919

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..../IT/10252/2016-17 dated 14/02/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 28/03/2016 by the ld. Dy. Commissioner of Income Tax - 14(2)(2) (hereinafter referred to as ld. AO). 2. At the time of hearing of stay applications in SA Nos. 224 & 225/Mum/2019 on 03/05/2019, with the consent of both the parties the main appeals for A.Yrs 2008-09 and 2009-10 were also taken up for hearing. The only common issue raised by the assessee in both the appeals is apart from challenging the validity of reopening the assessment, is an addition made u/s.68 of the Act in respect of share capital received under foreign direct investment (FDI) group. ....

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....y heard the matter and adjourned the appeal to a specific date, but to the surprise of the assessee, the ld. CIT(A) proceeded to dispose off the appeal vide its order dated 14/02/2019 ignoring (i) the detailed legal submissions filed before him on 23/01/2019 (ii) copy of bank statements of the Mauritius shareholder that assessee submitted before the ld. CIT(A) on his request on 30/01/2019 and (iii) materials available on record and the various submissions filed by the assessee before the ld. AO which included the audited financial statements of Mauritius shareholder. The assessee came to know of the disposal of the appeal by the ld. CIT(A) only based on the recovery notice sent by the ld. AO on 29/03/2019 for recovery of tax arrears. The or....

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.... vide written submissions dated 27/11/2015 and 18/03/2016. (iii) Copy of return of allotment filed by the assessee with Registrar of Companies which were filed before the ld. AO vide written submission dated 18/03/2016. (iv) Copy of bank statements of Mauritius shareholder as well as the assessee company which were filed before the ld. CIT(A) on his request vide letter dated 30/01/2019. 5.1. We find that these documents were not considered by the ld. CIT(A) while disposing off the appeal for the A.Y.2008-09. Hence, in the interest of justice and fair play, we deem it fit and appropriate to remand this appeal to the file of the ld. CIT(A) for denovo adjudication of the entire issues raised before him and dispose off the ....