NIRMAN DEVELOPERS,PUNE vs. THE INCOME TAX OFFICER, WARD-3(1), PUNE

Heard the rival submissions and perused the relevant material on record. Filtering out unnecessary details, it is seen that the assessment order in this case was passed u/s.143(3) of the Act determining total income at Rs.33,54,650/-. The AO could not conduct proper enquiries due to paucity of time and made an addition u/s.68 of Rs.32.50 lakh consisting of Rs.25.00 lakh and Rs.7.50 lakh. The assessee filed certain additional evidence before the ld. CIT(A), who forwarded the same to the AO for a remand report. The AO, in his remand report, did not admit the additional evidence on the premise of having providing ample opportunities. The ld.CIT(A) allowed part relief. The case of the assessee is that complete information/details are now available with it and hence one more chance be given to produce the same so as to facilitate the completion of the assessment in a proper manner. In view of the facts obtaining in the instant case, I am of the opinion that it would be just and fair if the impugned order is set-aside and the matter is remitted to the file of the AO with a direction to pass the assessment order afresh as per law after allowing a reasonable opportunity of hearing to the assessee. I order accordingly. Needless to say, the assessee will be at liberty to lead any fresh evidence in support of his case in the fresh assessment.

In the result, the appeal is allowed for statistical purposes.