CUPID BIOTECH LTD.,AHMEDABAD vs. THE ITO, WARD-1(1)(3), AHMEDABAD

The reopening of assessment u/s 148 is bad in law as same has been done for verification purpose only for making fishing and roving inquiries.

I.d. NFAC erred in law and on facts in dismissing appeal violating provision of section 250(6) of the Act thus appellant prays that appeal may be set aside to CIT(A) / NFAC for adjudication cm merits.

Ld. NFAC erred in law and on facts in confirming addition of Rs. 9,84.694/-by treating same as unexplained money ignoring fact that this section does not have applicability.

Ld. NFAC erred in law and on facts in confirming addition ignoring fact that the material relied on by AO was not provided and thus violated the principle of natural justice.

Both lower authorities erred in law and on facts in passing orders without providing statements of the persons relied on and consequential cross examination.

Charging of Interest u/s 234A,234B,234C & 234D are unjustified.

Initiation of penalty proceedings u/s 271(l)(c) is unjustifled.

On going through the record, I find that notices u/s.250 were issued on 31.08.2020, 29.12.2020, 23.10.2023 & 21.06.2024 requesting the assessee to submit certain details/clarification/ explanation. However, in pursuance to the same the assessee failed to submit any reply and the appeal of the assessee was dismissed by the Ld.CIT(A). The Ld. Counsel for the assessee prayed that, given an opportunity, all the details/clarification/explanation would be provided to the revenue authorities. Since the primary adjudication of the ground of appeal has not been taken by Ld.CIT (A), in the interest of justice, the matter is remanded back to the Ld.CIT(A) for adjudication of entire issue. The assessee shall comply with I.T.A No. 1746/Ahd/2024 A.Y. 2012-13 Page No 3 the notices issued by the authorities without seeking any unnecessary adjournments.

In the result, the appeal of the assessee is allowed for statistical purposes.

Revenue 3. Concerned CIT 4. CIT (A) 5. DR, ITAT, Ahmedabad 6. Guard file. By order/आदेश से,