AIR PRODUCTS PUBLIC LIMITED COMPANY,UNITED KINGDOM vs. ASSISTANT COMMISSIONER OF INCOME-TAX (INTERNATIONAL TAXATION) CIRCLE - 1, PUNE, PUNE

The captioned appeal as well as Stay Application at the instance of assessee are directed against the order dated 09.01.2025 framed by ld.CIT(A), Pune-13 u/s.250 of the Income-tax Act, 1961 (in short ‘the Act’) arising out of Assessment order dated 19.04.2024 passed by ld.ACIT(IT), Circle-1, Pune

Along with the Stay application, the impugned appeal is also fixed for hearing and the same has been heard with the assistance of both the sides. Since the main appeal has been heard, the Stay application becomes infructuous. Ld. Counsel for the assessee fairly submitted that since the main appeal has been heard the present stay application may be dismissed as Infructuous. Accordingly, we dismiss the same.

At the outset, Ld. Counsel for the assessee submitted that the impugned order is exparte and assessee did not receive the third notice of hearing. He therefore prayed that the issues raised in the instant appeal may please be restored to the file of ld.CIT(A) for necessary adjudication. Ld. Departmental Representative did not oppose to the request made by ld. Counsel for the assessee.

We have heard the rival submissions and perused the record placed before us. We observe that assessee is a Limited company and the assessment u/s.143(3) r.w.s.144C(3) of the Act was framed on 19.04.2024 by ld. ACIT (IT), Circle-1, Pune wherein certain additions/ adjustments were made to the returned income of Rs.4,03,405/- declared in the return furnished on 17.11.2022.

We therefore considering the facts and circumstances of the case and also in the larger interest of justice deem fit to restore the issues raised on merits to the file of Ld. CIT(A) for necessary adjudication and for deciding the issue in accordance with law and pass a speaking order as contemplated u/s.250(6) of the Act. Assessee is at liberty to adduce evidences in support of its grounds of appeal which it intends to plead before ld.CIT(A). Ld.CIT(A) may call for a remand report from Ld. Jurisdictional Assessing Officer and after obtaining the comments of the assessee to such remand report, decide in accordance with law. Needless to say that the assessee will be given reasonable opportunity of hearing. Assessee is directed to provide latest email id and contact detail to the department for receiving the notices from ITBA portal. Assessee is further directed to remain vigilant and not to take adjournment unless otherwise required for reasonable cause, failing which the ld.CIT(A) shall be free to proceed in accordance with law. Findings of ld.CIT(A) is set aside and effective grounds of appeal raised on merits are allowed for statistical purposes.

In the result, appeal of the assessee is allowed for statistical purposes and the Stay Application filed by the assessee is dismissed.