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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.
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.
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.