SUNGREEN VALLEYS PVT. LTD,ROURKELA vs. ACIT CIRCLE, ROURKELA, ROURKELA

None appeared on behalf of the assesse, when the matter was called None appeared on behalf of the assesse, when the matter was called None appeared on behalf of the assesse, when the matter was called on hearing. However, an adjournment petition is placed on record to on hearing. However, an adjournment petition is placed on record to on hearing. However, an adjournment petition is placed on record to adjourn the appeal on the ground that the assessee has not prepared the adjourn the appeal on the ground that the assessee has not prepared the adjourn the appeal on the ground that the assessee has not prepared the submission to be filed before the Tribunal. Considering the fact that the to be filed before the Tribunal. Considering the fact that the to be filed before the Tribunal. Considering the fact that the there was no appearance by the assessee before the ld CIT(A) and appeal there was no appearance by the assessee before the ld CIT(A) and appeal there was no appearance by the assessee before the ld CIT(A) and appeal P a g e 1 | 3 was disposed of exparte, we reject the adjournment petition and proceed to dispose of the appeal in the absence of the assessee.

Shri Charan Dass, ld DR appeared on behalf of the revenue.

We have heard ld Sr DR and perused the record of the case. A perusal of the order of the ld CIT(A) shows that there was no response from the side of the assessee despite giving various opportunities as is evident from the impugned order. It is also noted that during the assessment proceedings, the assessee has not appeared before the Assessing Officer and the assessment has been passed exparte. The only dispute in this case is the application of section 50C. In the grounds of appeal, the assessee has agitated that the Assessing Officer without considering the factual information and submission enhanced the long term capital gain returned by the assessee, which is not correct. This fact has not been agitated either before the AO or before the ld CIT(A). In view of above, we consider it deem and fit to restore the matter back to the file of the Assessing Officer to pass denovo assessment order after considering the written submission and evidences filed on record and may be filed during the fresh proceedings after granting adequate opportunity of hearing to the assessee. The assessee is also directed to cooperate with the Assessing Officer for fresh adjudication of the issue.

In the result, appeal of the assessee stands partly allowed for statistical purposes.