JAI SHREE BALAJI SPINNING MILLS PRIVATE LIMITED,AKOLA vs. DCIT/ACIT AKOLA CIRCLE, AKOLA

Despite affording seven opportunities by the learned CIT(A) to the assessee, the assessee made no compliance and, therefore, the learned CIT(A) in the constrained circumstances affirmed the addition of ` 1,76,83,712, made on account of transfer pricing adjustment by 2 Jai Shree Balaji Spinning Mills P. Ltd. ITA no.23/Nag./2025 the Assessing Officer vide assessment order dated 24/01/2019, passed under section 143(3) r/w section 144(C(3) of the Income Tax Act, 1961 (for short "the Act"). The notice of hearing for today was sent to the assessee, however, the assessee neither appeared nor filed any adjournment application and, therefore, we are constrained to decide this appeal as ex–parte. We find that the conduct of the assessee seems to be non–compliant and, therefore, it does not deserve any leniency.. However, considering the peculiar facts and circumstances of the case in totality, as the issue involved in the appeal filed by the assessee remained to be adjudicated in its right perspective and proper manner, specifically in the absence of relevant documents and submissions, which the assessee admittedly failed to file, this Court is inclined to remand the issue back to the file of the learned CIT(A) but subject to payment of ` 22,000 (Rupees Twenty Two Thousand Only) to be deposited within 15 days from the date of this order, in the Revenue Department under the “Other Head”. The assessee is also directed to file the relevant submissions/documents. It is clarified that, in case of subsequent default, the assessee shall not be entitled for any leniency.