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Income Tax Appellate Tribunal, INDORE BENCH, INDORE
Before: SHRI KUL BHARAT & SHRI MANISH BORAD
PER MANISH BORAD, AM.
This appeal of Assessee pertaining to A.Y. 2012-13 is directed
against the order of Ld. Pr. Commissioner of Income Tax-I, Bhopal
(in short ‘Pr.CIT’), dated 06.03.2017 which is arising out of the
order u/s 143(3) of the Income Tax Act 1961(hereinafter called as
the ‘Act’) framed on 13.03.2015 by DCIT-1(1), Bhopal.
Absolute HR Solutions Pvt Ltd ITA No.243/Ind/2017 2. The assessee has raised following grounds of appeal;
“1. That the learned Pr. Commissioner of Income Tax erred in cancelling order of assessment dated 13.03.2015 passed by the A.O. invoking provisions of section 263 of the Act.”
Briefly stated facts as culled out from the records are that the assessee is a Private Limited Company. Assessment U/s 143(3) of the Act was framed on 13.03.2015 thereby assessing income at Rs.NIL after disallowing the loss of Rs.50,96,323/- claimed by the assessee in the return of income filed on 26.9.2012 for Assessment Year 2012-13. Thereafter Ld. CIT(A) by virtue of his power u/s 263 of the Act issued notice to the assessee on 31.1.2017 alleging that the assessment order framed by the Ld.A.O is erroneous in so far as prejudicial to the interest of revenue as Ld.A.O has not examined the genuineness of the unsecured loan of Rs.48,00,000/- received from M/s. Bansal Construction Works. Ld.CIT(A) in the order u/s 263 of the Act cancelled the assessment order and directed the Ld.A.O to reframe the assessment after examining the issues mentioned in the order.
Aggrieved assessee is now in appeal before the Tribunal.
At the outset Ld. Counsel for the assessee submitted that all necessary documents in order to prove the identity, genuineness and creditworthiness of the unsecured loan of Rs.48,00,000/- were placed before the Ld.A.O which was thoroughly examined before 2
Absolute HR Solutions Pvt Ltd ITA No.243/Ind/2017 passing the assessment order. He further submitted that Ld.CIT(A) during the course of the proceedings u/s 263 of the Act did not examined the issue at his level and sufficient opportunity was not provided to furnish the details. He prayed that the issues in this appeal may be set aside to the file of Ld.CIT(A) to conduct fresh proceedings u/s 263 of the Act after providing sufficient opportunity to the assessee.
Ld. Departmental Representative raised no objection to the request of the Ld. Counsel for the assessee for setting aside the issue in this appeal to the file of Ld.CIT(A).
We have heard rival contentions and perused the records placed before us. Assessee is aggrieved with the order of Ld.CIT(A) framed u/s 263 of the Act thereby quashing assessment order framed u/s 143(3) of the Act on 13.3.2015 directing the Assessing Officer to reframe the assessment afresh. Ld. Counsel for the assessee brought to our notice that all necessary documents for proving the identity, genuineness and creditworthiness of the unsecured loan taken from M/s. Bansal Construction Works, Bhopal were duly examined by the Ld.A.O. Ld.CIT(A) during the course of proceedings u/s 263 of the Act have not gone through the documents filed during the assessment before quashing the assessment order u/s 143(3) of the Act.
Absolute HR Solutions Pvt Ltd ITA No.243/Ind/2017 8. We observe that the request made by the Ld. Counsel for the assessee for setting aside the issues raised in this appeal to the file of Ld.CIT(A) for conducting fresh proceedings u/s 263 of the Act have not been objected by the Ld. Departmental Representative. We therefore in the interest of justice and fair play set aside the issue raised in this appeal to the file of Ld.CIT(A) for framing order u/s 263 of the Act afresh and direct him to conduct the proceedings u/s 263 of the Act afresh after providing sufficient opportunity to the assessee and also to go through the documents filed by the assessee in support of the claim to prove the identity, genuineness and creditworthiness of the unsecured loan of Rs.48,00,000/- taken from Ms/ Bansal Construction Works. Needless to mention that sufficient opportunity of being heard should be provided to the assessee.
In the result the appeal of the assessee is allowed for statistical purposes.
The order pronounced in the open Court on 31.10.2018.
Sd/- Sd/-
( KUL BHARAT) (MANISH BORAD) JUDICIAL MEMBER ACCOUNTANT MEMBER �दनांक /Dated : 31 October, 2018 /Dev
Absolute HR Solutions Pvt Ltd ITA No.243/Ind/2017 Copy to: The Appellant/Respondent/CIT concerned/CIT(A) concerned/ DR, ITAT, Indore/Guard file. By order Asstt.Registrar,I.T.A.T., Indore