MARG PROPERTIES LTD,CHENNAI vs. DCIT, CHENNAI

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ITA 555/CHNY/2024Status: DisposedITAT Chennai20 May 2024AY 2013-14Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI (Judicial Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal, considering the principle of natural justice, granted the assessee another opportunity to present its case. The matter was remitted back to the Assessing Officer for a fresh assessment after providing a hearing.

What were the facts?

The assessee failed to appear before the lower authorities, leading to an ex-parte assessment order and dismissal of the first appeal. The Assessing Officer made an addition of Rs. 54 Crores under Section 68.

What were the issues?

Whether the assessee should be granted another opportunity for hearing despite previous non-compliance, and the validity of the ex-parte assessment.

Which sections of the Income-tax Act were involved?

Section 68,Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, CHENNAI

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANU KUMAR GIRI, JM

O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2013-14 arises out of an passed by learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] on 12-02-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 144 of the Act on 13-09-2021. The assessee has failed to appear before any of the lower authorities. The Ld. AR pleaded for another opportunity of hearing which has been opposed by Ld. Sr. DR.

2.

In the assessment order, Ld. AO made addition u/s 68 for Rs.54 Crores. The Ld. CIT(A) dismissed the appeal since assessee failed to make any submissions therein. Aggrieved, the assessee is in further appeal before us.

3.

Though the assessee has remained negligent, however, keeping in mind the principle of natural justice, we deem it fit to grant another opportunity to the assessee to substantiate its case. Accordingly, the matter stand remitted back to Ld. AO for de novo assessment after affording opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith failing which Ld. AO shall be at liberty to proceed with framing of assessment on merits. 4. The appeal stand allowed for statistical purposes. Order pronounced on 20th May, 2024.

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