ANTONY VINCENT,CHENNAI vs. DCIT, NON CORP CIRCLE 7(1), CHENNAI

The sole grievance of the assessee in Rs.43.33 Lacs on account of denial of deduction u/s 54. The Ld. AO has levied penalty against the same which is subject matter of ITA No.431/Chny/2024. The impugned orders have been passed by first appellate authority vide orders dated 03.08.2023 and 20.12.2023. The registry has noted delay of 139 days in quantum appeal, the condonation of which has been sought by Ld. AR on the strength of an affidavit of the assessee. Considering the period of delay, the delay is condoned and we proceed for adjudication of the appeal on merits.

The Ld. AR sought another opportunity of hearing since impugned orders are ex-parte orders. The Ld. Sr. DR has opposed the same. 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. Therefore, we set aside the impugned orders and restore both the appeals back to the file of Ld. CIT(A) for de novo adjudication after affording reasonable opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith failing which Ld. CIT(A) would be at liberty to proceed with disposal of appeals on the basis of material on record. 4. Both the appeals stand allowed for statistical purposes. Order pronounced on 2nd May, 2024 Sd/- Sd/- (MANU KUMAR GIRI) (MANOJ KUMAR AGGARWAL) �ाियक सद4 / JUDICIAL MEMBER लेखा सद4 / ACCOUNTANT MEMBER चे3ई Chennai; िदनांक Dated : 02-05-2024 DS आदेशकीNितिलिपअ/ेिषत/Copy of the Order forwarded to : 1. अपीलाथ�/Appellant 2. � थ�/Respondent 3. आयकरआयु</CIT 4. िवभागीय�ितिनिध/DR 5. गाडAफाईल/GF