2019 (7) TMI 1918

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..... CIT (D.R) ORDER PER SHRI B.R. BASKARAN, A.M. The assessee has filed this appeal challenging the order dated 31-01-2019 passed by Ld Commissioner of Income Tax (Appeals)-2, Bangalore for the Asst. Year 2015-16. The assessee is aggrieved by the decision of learned CIT (Appeals) in confirming the addition of sale consideration received on sale of shares as income of the assessee under Section 6....

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....n of Rs. 43.77 lakhs as income of the assessee under Section 68 of the Act. The learned CIT (Appeals) also confirmed the same. 3. The learned Authorised Representative submitted that an identical issue was considered by the SMC bench of Bangalore Tribunal in assessee's brother case named Sri Vinod Kothari (HUF) in ITA No.698/Bang/2019 and the Tribunal, vide its order dt.03.7.2019, has restore....

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....dered the rival submissions and first of all, I reproduce Para No.8 of the judgment of Hon'ble Karnataka High Court rendered in the case of M/s. Chandra Devi Kothari (Supra) and this is as under: "8. In the light of the facts and circumstances as adverted to above and as the petitioner has been denied an opportunity of fair hearing by providing copy of the statement and related details regarding....

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....e on hand, there appears to be no difference in facts and therefore by respectfully following this judgment in the case of Chandra Devi Kothari (Supra), I set aside the impugned order of learned CIT(A) for Assessment Year 2014-15 and restore the matters to the file of the AO for fresh decision with the same directions as were issued by the Hon'ble Karnataka High Court in the case as per Para No.8 ....