9911796707
TMI Blog2024 (9) TMI 192X X X X Extracts X X X X X X X X Extracts X X X X ..... nowhere a party in the said proceedings pending before their lordships. Nor there is any stay order against us in both these appeals. Faced with this situation, we hardly see any reason to disturb the learned lower authorities findings declining the assessee s sec. 10(46) exemption claim for want of it s statutory notification. X X X X Extracts X X X X X X X X Extracts X X X X ..... ty in view of article 289 of the Constitution of India. Ref - Mumbai Metropolitan Region Development Authority v. Dy. DIT 2014 TaxPub(DT) 4751 (Bom-HC) : (2015) 273 CTR 0317. 3. On the facts and in the circumstances of the case the learned assessing officer has grossly erred to tax the amounts collected by PMRDA in the capacity of "Special Planning Authority" in the hands of PMRDA, albeit the fact that a "Special Planning Authority" is merely a trustee of the funds which are collected by it on behalf of the Government of Maharashtra. The true owner of the funds collected is in fact the Government of Maharashtra and the said receipts cannot be taxed in the hands of PMRDA. Ref : Kishanchand Lunidasing Bajaj v. CIT, [1966] 60 ITR 500 (SC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 129 of the Income Tax Act in spite of the fact that the assessee has made a specific demand for rehearing. This act of the assessing officer is in contravention to all known principles of natural justice and equity and as such the assessment order is liable to be quashed for being bad in law. 8. The appellant craves the leave to add, amend, modify, alter, and delete any of the grounds of appeal during the course of appellate proceedings." 3. The first and foremost identical issue that arises for our apt adjudication in both these cases is that of the assessee's sec. 10(46) exemption claim. Learned counsel could hardly dispute that the assessee has not been a "notified" authority u/sec.10(46)(c) of the Act which forms the precise reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce in both these cases to restore the assessee's identical third substantive ground to the NFAC's for afresh appropriate adjudication as per law preferably within three effective opportunities of hearing. It is made clear that in case the assessee fails to appear, lead and prove all necessary facts before the NFAC in the prescribed mode at it's own risk and responsibility, our remand instant directions herein shall stand automatically vacated. 5. The impugned delay of 5 days each herein is condoned as per assessee's solemn averments in light of Collector, Land Acquisition vs., MST Katiji [1987] 167 ITR 471 (SC) having settled the law long back that all such technical aspects must make a way for the cause of substantial justice. 6. These a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
