G.RAMASWAMY NAIDU MATRIC HR.SEC. SCHOOL,COIMBATORE vs. ACIT, EXEMPTIONS,, COIMBATORE

Brief facts of the case are that the appellant is an AOP and not registered u/s 12A of the Act and the said trust is running a school by the G Ramaswamy Naidu Matric Higher Secondary School and not filed any return of income. Notice u/s 148A(b) of the Act was issued and duly served. In response to the same, the appellant had filed the return of income declaring total income at Rs. 4,09,230/-. During the course of assessment proceedings, the AO issued notice u/s 142(1) & show-case notice. In response to the same, the appellant has not compliance any details. On perusal of the documents furnished the AO came to the conclusion that the appellant had deposited cash amounting to Rs. 2,48,11,359/- in bank account and not offered any taxation for the said transitions. The Assessing Officer completed the assessment u/s 147 r.w.s. 144 r.w.s. 144B of the Act by assessing the total Income Rs. 2,52,20,590/- thereby raising the tax demand of Rs. 2,34,11,007/-. Assessee further challenged the ex-parte order of assessment u/s 147 r.w.s 144 r.w.s. 144B of the Act before the ld.CIT(A) who proceeded ex-parte and confirmed the order of the AO on merits. Aggrieved, assessee is in appeal before us.

Before the ld. Counsel for assessee submitted that the AO has not given sufficient time to file evidence and documents to substantiate his explanation. The ld.DR stated that the assessee is habitual defaulter in appearing before the appellate authority hence no lenient view is to be taken in this case and prayed for dismissal of appeal.

Though we concur with the submissions of Ld. Sr. DR however, keeping in mind the principle of natural justice and grant another opportunity of hearing