M/S. ATHARVASS TRADERS LLP (EARLIER ATHARVASS TRADERS PRIVATE LIMITED),BENGALURU vs. THE INCOME TAX OFFICER, WARD-1(1)(2), BENGALURU

Assessee has raised Ground no. 2 wherein a plea of non- granting of sufficient opportunity of being heard has been alleged.

On perusal of the record, we note that assessee was not able to file the evidences / documentation in respect of the creditors Page 2 of Ld.AO however details were filed before the Ld.CIT(A). The Ld.CIT(A) had called for a remand report in which necessary verification based on the details filed were not conducted. In the interest of justice, we deem it appropriate to remand this issue back to the Ld.AO for a de novo consideration and the alleged issue before this Tribunal by assessee.

Assessee is directed to file all relevant information / details before the assessing officer in accordance with the requirement of section 68 and the assessing officer shall verify the same in accordance with law. Needless to say that proper opportunity must be granted to assessee in accordance with law. The Ld.AO shall pass a detailed order on merits having regard to various principles laid down by various High Courts as well as Hon’ble Supreme Court. Accordingly, the grounds raised by assessee stands allowed for statistical purposes. In the result, the appeal filed by the assessee stands allowed for statistical purposes. Order pronounced in the open court on 29th September, 2022.