ANUPAMA JEWELLERY,ERNAKULAM vs. ITO, NON-CORP WARD 1(1), KOCHI

He appellant is a partnership firm engaged in the business of jewellery. The return of income for AY 2017-18 was filed on 24.11.2017 declaring income of Rs. 97,310/-. Against the said return of income, the assessment was completed by the Income Tax Officer, Ward -1(1), Kochi (hereinafter called "the AO") vide order dated 21.12.2919 passed u/s. 143(3) of the Income Tax Act, 1961 (the Act) at a total income of Rs. 23,97,310/-. While doing so, the

Being aggrieved, an appeal was filed before the CIT(A), who wide the impugned order dismissed the appeal by holding that trading in illegal currency is unlawful.

Being aggrieved, the appellant is in appeal before us in the present appeal.

When the appeal was called nobody appeared on behalf of the assessee despite due service of notice of hearing. Therefore, we proceeded to dispose of the appeal after hearing the learned Sr. DR.

The AO made addition of 50% of the sales made during the demonetisation period by holding that the appellant firm made abnormal sales. On appeal before the CIT(A), the CIT(A) confirmed the action of the AO without dealing with the grounds of appeal raised by the assessee and dismissed the appeal exparte. Thus, the order passed by the CIT(A) suffers from violation of principles of natural justice and, therefore, the appeal filed by the appellant stands restored to the file of the CIT(A) for de novo adjudication in accordance with law.