KALYAN CHAKRAVARTHY KONCHADA ,HYDERABAD vs. INCOME TAX OFFICER, WARD-12(2), HYDERABAD

The assessee has raised the following grounds in his appeal:-

At the outset, Learned Counsel for the Assessee submitted that the Ld. CIT(A) has passed ex-parte order confirming the assessment order wherein addition was made for Rs. 17,74,959/- being 0.01% of the share transaction as his unexplained investment U/s. 68 of the Act and an amount of Rs. 1,35,000/- disallowing the claim of deduction under Chapter-VI-A of the IT Act, 1961. The Learned Counsel for the Assessee further submitted that the Ld. A.O. had also passed an ex- prate order in the case of the assessee without providing proper opportunity to the assessee of being heard. The Learned Counsel for the Assessee further submitted that the assessee is in possession of all the requisite materials to argue his case and therefore pleaded that the matter may be remitted back to the file of the A.O. for fresh consideration thereby providing the assessee one more opportunity of being heard.

Learned DR has strongly opposed to the submission of the Learned Counsel for the Assessee and argued by stating that sufficient opportunities were provided by both the A.O. as well as CIT (A). However, the assessee has grossly failed to represent his case. It was therefore pleaded that the appeal of the assessee may be dismissed.

I have heard the rival submissions and carefully perused the materials on record. On perusal of the facts of the case, it is apparent that sufficient opportunities were provided by the Ld. CIT(A) by posting the case for hearing number of times. It is also apparent that the assessee has not cooperated before the Ld A.O. as well during the assessment proceedings. In this situation, I do not find much strength in the arguments advanced by the Learned Counsel for the Assessee. However, considering the prayer of the Ld. AR that the assessee is now in possession of all the materials and evidence in order to obtain favourable order from the Revenue which was not available during earlier occasions due to misplacement, in the interest of justice I hereby remit the matter back to the file of the Ld. A.O. for fresh consideration thereby offering the assessee one more opportunity to present his case before them. I also make it clear that if the assessee do not promptly cooperate before the Ld. Revenue Authorities, they are at liberty to pass appropriate orders in accordance with merit and law based on the material before them.

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