9911796707
TMI Blog2021 (6) TMI 924X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(A) with a direction to grant one final opportunity to the assessee to substantiate his case and decide the issue as per fact and law. The assessee is also hereby directed to appear before the CIT(A) and substantiate his case without seeking any adjournment under any pretext failing which the ld.CIT(A) is at liberty to pass appropriate order as per law. Grounds raised by the assessee are accordingly allowed for statistical purposes. - ITA No.2559/Del/2019 (Assessment Year: 2015-16) - - - Dated:- 25-5-2021 - SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER Assessee by: Shri Raj Kumar Gupta, CA Shri J.B. Sharma, CA Revenue by: Shri Farhat Khan, Sr. DR ORDER PER R.K. PANDA, AM: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12,500 shares of M/s B G Freight shoppe India Pvt. Ltd. were received in Demat account of the assessee 24.01.2014 18,750 shares of M/s B G Freight shoppe India Pvt. Ltd. were received in Demat account of the assessee 29.01.2015 to 10.03.2015 Sold 2,00,000 shares @ ₹ 209.2 per share through M/s India Bulls Ventures Ltd. 4,17,85,660 4. He noted that the Director of Investigation, Kolkata carried a countrywide investigation to unearth the organized racket of generating bogus entries of longterm capital gain which is claimed as exempt. The AO, therefore, confronted the same to the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the paper book and submissions, therefore, in the interest of justice, the assessee should be granted an opportunity to substantiate his case either before the CIT(A) or before the AO as the Bench deems proper. 7. The ld. DR, on the other hand, strongly objected to the above submissions of the ld. Counsel. He submitted that despite number of opportunities granted, the assessee did not appear before the CIT(A) and was seeking adjournment under some pretext or the other. He accordingly submitted that the order of the CIT(A) should be upheld and the grounds raised by the assessee should be dismissed. 8. We have considered the rival arguments made by both the sides and perused the orders of the lower authorities. We find, the AO, in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 24.09.2018 No Compliance 5. 23.10.2018 22.11.2018 A letter for adjournment was filed by the Appellant on Dak Counter. 9. From the above, it can be seen that although letter for adjournment was filed by the assessee on dak counter of CIT(A) on 22.11.2018, however, there is no mention of any acceptance or rejection of the same by the ld. CIT(A). Considering the totality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the CIT(A) with a direction to grant one final opportunity to the assessee to substantiate his case and decide the issue as per fact and law. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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