TaxTMI 
TaxTMI 
2022 (1) TMI 603
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....ribunal, "SMC-A" Bench, Bangalore ('Tribunal' for short) relating to the assessment year 2009-10. 2. The assesssee is an individual. For the assessment year under consideration, return of income was filed on 03.07.2009 by the assessee declaring the total income of Rs. 2,43,190/-. The return was selected for scrutiny by the respondent N.2 and notice under Section 143(2) of the Act was issued. The order under Section 143(3) was passed by the Assessing Officer considering the objections filed by the assessee by making addition of Rs. 28,59,942/- as long term capital gains. Being aggrieved, the assessee preferred an appeal before the CIT (Appeals). The said appeal came to be dismissed ex-parte. Being aggrieved by the same, the assessee has pre....
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....atter has confirmed the orders passed by the CIT (Appeals) and the Assessing Officer, which adversely affects the rights of the appellant - assessee, who has purchased the property on 09.07.2009 after selling the old property on 13.03.2009 for Rs. 80,00,000/-. Learned counsel further submits that the cost of acquisition of new house property at Rs. 40,00,000/- is not in conformity with the factual aspects. The authorities as well as the Tribunal have also not considered the commission amount paid with regard to the said transaction. Learned counsel submits that an opportunity, if provided to demonstrate by furnishing the correct valuation report, the same would be made available before the Assessing Officer along with other relevant documen....
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....ed notice, the same having been returned without due service of summons, as there was no other option, proceeded to pass ex-parte order. In such circumstances, in the interest of justice and equity, keeping in mind the principles of natural justice and in view of the CIT (Appeals) dismissing the appeal merely recording the observations made in paragraph No.6 of the assessment order sans independent application of mind, we are of the considered opinion that the said order calls for interference by this Court. Further, the finding of the Tribunal based on ex-parte order of the CIT (Appeals) also warrants interference. 8. Hence, we deem it appropriate to set aside the orders passed by the Tribunal as well as the CIT (Appeals) in order ....