RAJDHANI TRANSPORT COMPANY PRIVATE LIMITED,HOSHIARPUR, PUNJAB vs. INCOME TAX OFFICER, WARD-3, HOSHIARPUR , HOSHIARPUR, PUNJAB

It emerges that the assessee was assessed u/s 143(3) on 17-06- 2016. However, the assessment was subjected to revision u/s 263 vide order dated 10-01-2019 of Ld. Pr. CIT-1, Jallandhar which was challenged by the assessee before Tribunal in ITA No.150/Asr/2019. During pendency of assessee’s challenge, consequential assessment was framed by Ld. AO u/s 143(3) r.w.s. 263 on 16-12-2019 which stood confirmed by Ld. CIT(A) vide order dated 05-09-2024 which is impugned before us. The assessee failed to make any representation during the first appeal. In the meanwhile, revisionary order stood restored back by Tribunal in on 05-05-2022 as under: - 3. We observed the order of the Revenue authority passed u/s 263. The order was passed only on the basis of the non-appearance of assessee and non submission of the document during the proceeding. Section 263 is moved up by two limbs, one erroneous order and second is prejudicial to the interest of the revenue. The ld. PCIT had not taken proper cognizance to discuss the issue and applicability of section 263 in relation to the order of the ld. Assessing Officer. A non speaking order was passed. The ld. CIT-DR also accepted the defect of the impugned order. The order, u/s 263 of the Act should be in details & be enriched with facts and should be well reasoned in relation to application of section 263 of the Act. We are directing the ld. PCIT to pass a fresh order considering to the provisions of section 263 and identify the proper lacunae in the order of the ld. Assessing Officer. Needless to add that adequate opportunity of hearing shall be granted to the assessee.