TaxTMI 
TaxTMI 
2019 (10) TMI 1538
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....n passing the order in the manner passed by him and the learned Commissioner of Income tax (Appeals) has erred in confirming the same. The impugned orders being bad in law, void ab-initio are required to be quashed. 2. In any case the order passed in gross violation or the principles of natural justice and lair play, especially in the absence of the cross examinations or the persons whose averments arc sought to be relied upon by the Assessing Officer while passing the order. makes the order totally bad in law and liable to be cancelled. 2 In any case and without prejudice, the learned Assessing Officer had erred in making addition of Rs. 1.02.68,954/ - being sale proceeds of shares to the income of the appellant and * the learned CIT (....
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....essment Year 2014-15 on 19.12.2014 declaring total income of Rs.8,53,883/-. The case was selected for scrutiny and notices under section 143(2) and 142(1) of the Income Tax Act, 1961 were issued. In response to the notice, the AR appeared from time to time and filed various details as called for. During the course of assessment proceedings, the AO noticed that the assessee has disclosed income from long term capital gain in respect of transfer of equity shares of M/s. SRK Industries Ltd, therefore, called upon the assessee to file necessary evidences including contract notes for sale of shares and bank statements. In response, the assessee has filed complete details including contract notes, bank statements and other details. The AO, on the....
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....reasonable opportunity, an assessment order could not be sustained and could be interfered with under article 226 of the Constitution of India and accordingly, set aside the issue to the file of the AO to reconsider the issue in light of the claim of the assessee that the statement and information relied upon by the AO was not confronted to the assessee. The AR has also relied upon the decision of the ITAT Bengaluru Bench, in the case of Ramesh Kumar Shah Vs. ACIT in ITA No.595/Bang/2018. 5. The learned DR, on the other hand strongly supporting the order of the AO as well as the learned CIT(A) submitted that this case is not squarely covered by the decision of the Hon'ble Karnataka High Court in the case of DevichandKotheri (supra), becaus....
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....sessee in the light of the decision of the Hon'ble High Court of Karnataka in case of Devichand Kothari, HUF (supra) is squarely applicable to the facts of present case. We further noted that the Hon'ble Karnataka High Court, in the Said case held that in absence of opportunity of hearing by providing copy of the statement and related detailed regarding the alleged share amount, the additions made by the AO cannot be sustained. We further noted that the ITAT Bengaluru 'A' Bench in the case of Ramesh Kumar Shah (supra) has considered identical issue and after considering the facts and also the decision of ITAT in the case of Aravind KumarMoochand in ITA No.509/Bang/2017, set aside the issue to the file of the AO to decide the issue afresh af....