KUMARAN TRADERS,POTHERI vs. ITO, NON CORP WARD 22(2), TAMBARAM

Aggrieved by confirmation of certain addition of undisclosed investment made u/s.69 for Rs.47.94 Lacs vide impugned order dated 08-12-2023, the assessee is in further appeal before us. Upon perusal of para 5.1 of impugned order, it could be seen that the assessee did not attend first appellate proceedings. The Ld. AR submitted that managing partner of assessee firm expired on 29-09-2022 and therefore, the assessee remained unrepresented. The Ld. AR pleaded for another opportunity of hearing before lower authorities which has been opposed by Ld. Sr. DR.

We are of the opinion that the assessee has reasonable cause for non-appearance. Therefore, we set aside the impugned order and restore the appeal back to the file of Ld. CIT(A) for de novo adjudication after affording opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith without any fail failing which Ld. CIT(A) shall be at liberty to proceed with the disposal of the appeal on merits. 3. The appeal stand allowed for statistical purposes. Order pronounced on 16th April, 2024.