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1 - 6 of 6 (0.20 seconds)Section 50C in The Income Tax Act, 1961 [Entire Act]
National Thermal Power Co. Ltd. vs Commissioner Of Income Tax on 4 December, 1996
5. We have heard the rival submissions and gone through the
relevant material on record on the admission of the additional
ground. The instant additional ground raises a pure question of
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ITA No. 1930/PUN/2017
G M Kenjale Constructions Pvt. Ltd.,
law, which does not require any fresh investigation of facts.
The same is admitted in view of the judgment of Hon'ble
Supreme Court in National Thermal Power Company Ltd. Vs.
CIT (1998) 229 ITR 383 (SC).
Assistant Commissioner Of ... vs Smt. Ashadevi Sushil Agarwal,, Pune on 24 April, 2018
In this
regard, the ld. AR has relied on the judgment of the Hon'ble
Calcutta High Court in the case of Sunil Kumar Agarwal Vs.
CIT (2014) 47 taxmann.com 158 (Cal.) in which it has been
held in para 8 that: "Even in a case where no such prayer is
made by the learned advocate representing the assessee, who
may not have been properly instructed in law, the assessing
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ITA No. 1930/PUN/2017
G M Kenjale Constructions Pvt. Ltd.,
officer, discharging a quasi judicial function, has the bounden
duty to act fairly and to give a fair treatment by giving him an
option to follow the course provided by law". On a
consideration of the above precedent in juxtaposition to the
additional ground raised before the Tribunal, we are of the
considered opinion that the ends of justice would meet
adequately if the impugned order is set-aside and the matter is
restored to the file of the AO. We order accordingly and direct
the AO to frame the assessment afresh as per law after allowing
reasonable opportunity of hearing to the assessee. In such
assessment, he will take into consideration the discussion made
above qua the making of a reference to the DVO for
determination of the fair market value of the property
transferred by the assessee, which is not a capital asset.
Chartered Accountants Act, 1949
Finance Act, 2013
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