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

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ITA 969/PUN/2023Status: HeardITAT Pune11 October 2023AY 2017-183 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found it just and fair to set aside the impugned order and remit the matter back to the AO. The AO is directed to pass a fresh assessment order after allowing the assessee a reasonable opportunity of hearing and to produce fresh evidence.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 32.50 lakh under Section 68 due to a lack of proper inquiries. The assessee provided additional evidence to the CIT(A), who forwarded it to the AO for a remand report. The AO did not admit the additional evidence, and the CIT(A) granted partial relief.

What were the issues?

Whether the assessee should be granted another opportunity to produce additional evidence before the AO for a proper assessment.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SMC BENCH, PUNE

Before: SHRI R.S. SYAL

For Appellant: Shri Suhas Bora
For Respondent: Smt. Neha Deshpande

This appeal by the assessee arises out of the order dated 06-07-2023 passed by the National Faceless Appeal Centre (NFAC), Delhi u/s.250 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) in relation to the assessment year 2017-18.

2.

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.

3.

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

Order pronounced in the Open Court on 11th October, 2023.

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