SATHYAMOORTHY GANESH,CHENNAI vs. ITO, NON CORPORATE WARD- 19(6), CHENNAI

The grievance of the assessee in captioned appeal is confirmation of certain addition of unexplained investment for Rs.29.57 Lacs as made by Ld. Assessing Officer while framing an assessment u/s 144 on 20.09.2019. The addition represents credits in the bank accounts. Though the assessee preferred further appeal, it failed to file any supporting documents and accordingly, the addition was confirmed. Aggrieved, the assessee is in further appeal before us. The Ld. AR submitted that the assessee is in a position to substantiate its case. The Ld. Sr. DR pleaded for dismissal of the appeal.

Accepting the plea of Ld. AR and keeping in mind the principle of natural justice, we deem it fit to grant another opportunity of hearing to the assessee to substantiate its case. Accordingly, the impugned order is set aside and the appeal is restored 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 failing which Ld. CIT(A) shall be at liberty to dispose-off the appeal on merits. 3. The appeal stand allowed for statistical purposes. Order pronounced on 16th April, 2024.