TaxTMI 
TaxTMI 
2024 (7) TMI 718
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....CCOUNTANT MEMBER: This appeal filed by the assessee is against the order of Ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi, vide order no. ITBA/NFAC/S/250/2022-23/1045768952(1), dated 21.09.2022 passed against the assessment order by Income Tax Officer - 16(3)(3), Mumbai, u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"), dated 30.12.2016 for Assessment Yea....
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.... of shares which was claimed as exempt u/s. 10(38) of the Act. Assessee had sold 7500 shares of the scrip Asianlak Ltd. For the sale consideration of Rs. 62,20,653/- resulting into a long term capital gain of Rs. 61,45,653/-. These shares were purchased on 10.09.2011 for the sum of Rs. 75,000/-. Name of the scrip changed to Global Infratech & Finance Ltd. Necessary details and documents were calle....
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....lant at given E-mail. Therefore, it seems appellant has no interest in pursuing the appeal. Nothing has been brought on records by the appellant, which will allow me to defer with the findings by the AO. Therefore, I do not find any reason to interfere with the order passed by the assessing officer. In sum, appeal is dismissed." 6. Aggrieved, assessee is in appeal before the Tribunal. 7. Before ....
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....osing of the appeal by the Ld. CIT(A). Sub-section (4) of section 250 of the Act provides that the Ld. CIT(A) may, before disposing of any appeal, make such further inquiry as he thinks fit, or may direct the Assessing officer to make further inquiry and report the result of the same to the Commissioner (Appeals). Further, sub-section (6) provides that the CIT(A) shall pass an order in writing and....