K. C. A. BANK LIMITED (PRIMARY AGRICULTURAL CREDIT CO-OPERATIVE SOCIETY LIMITED),CHIKKAMAGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CHIKKAMAGALURU

The Ld. Counsel appearing for the assessee submitted that the Ld. Pr. CIT issued the show cause notice on 7.3.2020 after initiation of revision proceedings u/s 263 of the Act. On the date of hearing, the assessee sought adjournment and accordingly, the Ld. Principal CIT granted time up to 19.3.2020 to furnish the details. Subsequently, the Ld. Pr. CIT passed the impugned order on K.C.A. Bank Ltd., Chikkamagaluru Dist.

We heard Ld. D.R. and perused the record before us. From the copies of documents filed before us, we notice that the assessee has forwarded the details to Ld. Pr. CIT through E-mail on 13.3.2020. Admittedly, the Ld. Principal CIT has passed the impugned revision order without considering those details and also without affording adequate opportunity of being heard to the assessee. Accordingly, in the interest of natural justice, we are of the view that the entire issue should be restored back to the Ld. Pr. CIT, so that he can afford adequate opportunity to the assessee and also consider the replies furnished by the assessee or that may be furnished before him before passing revision order on all the issues. Accordingly, we set aside the order passed by Ld. Pr. CIT and restore all issues to his file with the direction to afford adequate opportunity of being heard to the assessee and decide them in accordance with law.