MGM MINERALS LIMITED,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

S/Shri B.K.Mahapatra/A.K.Sabat, S/Shri B.K.Mahapatra/A.K.Sabat, ld ARs appeared for appeared for the assessee and Shri Sanjay Kumar, ld CIT Sanjay Kumar, ld CIT DR appeared for the revenue. DR appeared for the revenue.

The appeal is time barred by The appeal is time barred by 292 days. The assessee 292 days. The assessee has filed condonation petition supported by affidavit for condoning the delay. In the condonation petition supported by affidavit for condoning the delay. In the condonation petition supported by affidavit for condoning the delay. In the petition, it is stated that petition, it is stated that the statutory auditors, while auditing the accounts the statutory auditors, while auditing the accounts

It was submitted by ld AR that the ld CIT(A) has passed order exparte without affording reasonable opportunity of hearing to the assessee. Ld AR also submitted that assessment has been completed u/s.143(3)/147 and the issue of notice including in view of the reasons recorded for reopening is erroneous and illegal and, therefore, assessment order should be quashed apart from merits of the case.

However, ld AR submits that since the ld CIT(A) has passed an exparte order the matter may be restored to the file of the ld CIT(A) and the assessee be allowed adequate opportunity to present its case before the ld CIT(A) with documentary evidences. Therefore, in the interest of justice, we set aside the order of the ld CIT(A) and remit the matter back to the file of ld CIT(A) and readjudicate the issue after affording reasonable opportunities of hearing to the assessee, subject to cost of Rs.25,000/- P a g e 2 | 3 Assessment Year : 2008-09 (Rupees twenty five thousand only) to be deposited within 60 days from the date of this order under the head “others” in ITNS challan 280 in the Account No.500 and same is to be filed before the ld CIT(A) when the appeal is posted for hearing. In the event the cost is not paid, the order passed by the ld CIT(A) and that of the AO would stand confirmed.

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