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Facts
The assessee failed to file a return for A.Y. 2016-17. The AO, based on information about a property purchase of Rs. 1.60 crore, initiated reassessment proceedings and made an addition of Rs. 42,00,000/- under sections 69 and 69A for unexplained investments/credits. The Dispute Resolution Panel (DRP) partially sustained an addition of Rs. 10,00,000/- under section 69A, leading to a final assessment order.
Held
The Tribunal observed that the DRP did not provide adequate opportunity of hearing to the assessee, who was stationed on a ship, and failed to consider all submissions and evidences. Citing principles of natural justice, the Tribunal restored the matter concerning the addition under section 69A back to the DRP for a fresh examination, directing them to provide proper opportunity to the assessee.
Key Issues
Whether the DRP erred in sustaining an addition under section 69A without providing adequate opportunity of hearing and considering all submissions and evidences, especially given the assessee's constraints of being stationed on a ship.
Sections Cited
144, 144C(13), 144C(5), 148, 143(2), 142(1), 69, 69A, 144C(1)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, PANAJI
आदेशानुसार/ BY ORDER, स�या�पत ��त //True Copy// 1. ( Asst. Registrar)
ITAT, Panaji
Initial Date 1. Draft dictated on PS 2. Draft placed before author PS
Draft proposed & placed before PS the second member 4. Draft discussed/approved by PS Second Member. 5. Approved Draft comes to the PS Sr.PS/PS 6. Kept for pronouncement on 7. File sent to the Bench Clerk 8. Date on which file goes to the AR 9. Date on which file goes to the Head Clerk. 10. Date of dispatch of Order. 11. Dictation Pad is enclosed 2. Other M