K G VORA SECURITIES LTD,MUMBAI vs. DCIT, CIRCLE 4(3)(1), MUMBAI

Having heard rival submissions, we have carefully perused the orders of the authorities below. When the Bench pointed out that both the AO and the ld. CIT(A) have given sufficient opportunity then how it can be said that no proper opportunity was given, to which the ld. Counsel for the assessee replied that at the assessment stage, Shri K G Vora, expired and the new committee did not respond to the Assessment Year: 2012-13 K.G. VORA SECURITIES LTD. 2 assessment proceedings and at the appellate stage, the Chartered Accountant representing the assessee expired and the appellate proceedings also went unattended.

Considering the above facts, we are of the considered view that no prejudice will be cause to the revenue if one more opportunity is given to the assessee. Therefore, in the interest of justice and fairplay, we deem it fit to restore the entire issues to the file of the AO. The AO is directed to decide the issue afresh after affording reasonable and adequate opportunity to the assessee and the assessee directed to take this opportunity to present its case properly.

In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the Court on 9th July, 2024 at Mumbai. (RAHUL CHAUDHARY) ACCOUNTANT MEMBER Kolkata, Dated 09/07/2024 *SC SrPs *SC SrPs *SC SrPs *SC SrPs Assessment Year: 2012-13 K.G. VORA SECURITIES LTD. 3