GRIN BEAR ENERGY LIMITED,PATNA vs. DC/AC, PATNA

This appeal of assessee is time barred by 56 days. A separate application for condonation of delay has been filed. Considering the averments made the said application, the delay in filing the appeal is hereby condoned.

The assessee in this appeal is aggrieved by the action of the Ld. CIT(A) in confirming the addition made by the Assessing Officer of Rs.11,00,000/- on account of introduction of fresh capital and addition of Rs.18,49,406/- was made on account of excess loss claimed in the revised return as compared to the loss claimed in the original return.

I.T.A. No.: 579/PAT/2024 Grin Bear Energy, AY : 2012-13 4. At the outset, the Ld. Counsel for the assessee has invited my attention to the impugned assessment order to submit that the same is an ex parte/best judgment order passed u/s. 144 of the Act. The Ld. Counsel for the assessee has further submitted that in fact there was a mistake on the part of the Assessing Officer in correctly appreciating the facts on file. He has submitted that the introduction of capital of Rs. 11,00,000/- in the shape of unsecured loans was already part of the Balance Sheet of the assessee filed along with the original return of income. He has further submitted that even there was no difference of amount of loss claimed by the assessee in the return of income. He has further brought my attention to the impugned order of the Ld. CIT(A) to submit that the same is an ex parte order of the Ld. CIT(A). He has further submitted that the assessee did not receive any notice of hearing from the ld. CIT(A) as the business of the assessee was closed down in the year 2012 and the notices were sent on business address which might have returned unserved. The ld. Counsel for the assessee has submitted that the assessee has a fair case on merits and that he may be given an opportunity to present its case before the Assessing Officer.

Considering the overall facts and circumstances of this case, in my view, the interests of justice will be well served, if the assessee is given an opportunity to present its case before the Assessing Officer. Impugned order of the Ld. CIT(A) is accordingly, set aside and the matter is restored to the file of the Assessing Officer for assessment afresh on the issue. Needless to say, the Assessing Officer will give proper opportunity to the assessee to present his case and thereafter to decide the matter in accordance with law.

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