CHITHRA,THENI vs. ITO, WARD-1,, THEN

Aforesaid appeal by assessee for Assessment Year (AY) 2018-19 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 22-08- 2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] on best judgment basis u/s. 147 r.w.s. 144 rws 144B of the Act on 01-03-2023. The sole grievance of the assessee is against confirmation of addition of Rs.57.80 Lacs as unexplained cash deposits in the bank accounts. Upon perusal of para-5.1 of impugned order, it could be seen that the assessee has failed to attend first appellate proceedings and accordingly, the assessment has been confirmed. Aggrieved, the assessee is in further appeal before us. The Ld. AR has prayed for another opportunity of hearing which has been opposed by revenue. 2. Though the assessee has remained negligent, however, keeping in mind the principles of natural justice, we accept the prayer of Ld. AR. Accordingly, the impugned order is set aside and the assessment is restored back to the file of Ld. AO for de novo assessment with a direction to the assessee to substantiate its case. 3. The appeal stand allowed for statistical purposes. Order pronounced on 2nd January, 2025 (S. S. VISWANETHRA RAVI) (MANOJ KUMAR AGGARWAL) ाियक सद! / JUDICIAL MEMBER लेखा सद! / ACCOUNTANT MEMBER