M/S. GOODLUCK INDIA LTD.,NEW DELHI vs. INCOME TAX OFFICER, NEW DELHI

At the outset, we find that there is a delay in filing of appeal by the assessee before us by 335 days. Considering the reasons adduced in the condonation petition, we are inclined to condone the delay and admit the appeal of the assessee for adjudication.

The assessee has challenged the addition made in the sum of Rs 1,25,00,000/- on account of share capital and share premium under section 68 of the Act. The assessee had also challenged the validity of assumption of jurisdiction under section 147 of the Act by the Learned AO. But the preliminary ground raised by the assessee is that the Learned CIT(A) had passed an exparte order without securing the presence of the assessee. We deem it fit to address this preliminary ground first as it goes to the root of the matter.

We have heard the rival submissions and perused the materials available on record. On perusal of the order of the ld NFAC, we find that the ld NFAC had dismissed the appeal of the assessee for non-appearance and having done so, proceeded to adjudicate the issue on merits by simply reiterating what has been done by the Learned AO. No independent findings were given by the Learned NFAC. Hence, in the interest of justice and fairplay, we deem it fit and appropriate to restore this appeal to file of ld NFAC for de novo adjudication in accordance with law. Needless to mention the assessee be given reasonable opportunity of being heard. The assessee is directed to cooperate with ld NFAC for expeditious disposal of the appeal by not taking unwarranted adjournments. Hence, the grounds raised by the assessee are allowed for statistical purposes.

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