Case Law Details
ACIT Vs Rohini Hotel (Madras) Pvt. Ltd. (ITAT Chennai)
A perusal of the Page Nos. 6-13 of the Paper Book filed by the assessee shows that the assessee has filed certain reconciliation statements in respect of the shortfall of investments u/s. 68 added by the AO. The same are scanned and made a part of this order. As these additions were not produced before the AO or the Ld. CIT(A), in the interest of natural justice, the issues in these appeals are restored to the file of the AO for re-adjudication after granting the assessee adequate opportunity of being heard. Here, we must mention that as the Ld. CIT(A) has accepted the explanation and has given the benefit of telescope for the AY, in respect of which, the Revenue is on appeal, it would not be appropriate to restore only those appeals where the assessee is on appeal on account of the addition being confirmed by the Ld. CIT(A). In these circumstances, as the investment in the Hotel building in its entirety is under consideration, all the issues in the two appeals filed by the Revenue and in the two appeals filed by the assessee are restored to the file of the AO for re-adjudication after granting the assessee adequate opportunity of being heard.
FULL TEXT OF THE ITAT JUDGEMENT
ITA Nos.1627 & 1687/Chny/2017 are the appeals filed by the Revenue and ITA Nos.1841 & 1842/Chny/2018 are the appeals filed by the assessee against the consolidated Order of the Commissioner of Income Tax (Appeals)-3, Chennai, in ITA Nos.60, 61, 62 & 63/2013-14/CIT(A)-3 dated 31.03.2017 for the AYs 2006-07, 2007-08, 2005-06 & 2008-09 respectively.
2. Shri R.Clement Ramesh Kumar, Addl.CIT, represented on behalf of the Revenue and Shri R.S.Balaji, Adv., represented on behalf of the assessee.
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