MAMCHAND TYAGI,GAZIABAD vs. ITO, WARD-1(4), GAZIABAD

Facts, in brief, are that AO received information that assessee had sold residential property for Rs. 8,05,000/- (circle rate Rs. 13,35,000/-) on 27.01.2012. The AO issued notice u/s 148 of the Income-tax Act, 1961(the “Act”) on 29.03.2019 after obtaining necessary approval of the Pr. CIT, Ghaziabad. The AO completed the assessment u/s 143(3)/147 of the Act and assessed assessee’s income at Rs. 44,41,340/- as against Rs. 92,360/- returned by the assessee by making additions of Rs. 30,07,332/- deposited in saving bank account as unexplained money; Rs. 13,35,000/- unexplained short term capital gain u/s 50 of the Act; and Rs. 6,650/- on account of bank interest. Aggrieved against it the assessee preferred appeal to the learned CIT(A), who affirmed the action of the AO. Aggrieved against this now the assessee is in appeal before this Tribunal.

It is noticed from the record that there was no representation on behalf of the assessee before the learned CIT(A). The learned CIT(A) has dismissed the assessee’s appeal for want of prosecution, without going into the merits of the case. Therefore, the impugned order of the learned CIT(A) is hereby set aside and in the interest of principles of natural justice, the grounds raised by the assessee are restored to the file of learned CIT(A) who will decide the grounds of appeal afresh son merits after giving due opportunity to the assessee of being heard.

Appeal of the assessee is allowed for statistical purposes.