VELAYUDHANPARAMBIL KUMARAN RAJEEVAN,ERNAKULAM vs. ITO, NON-CORP WARD 1(4), KOCHI, ERNAKULAM

It emerges at the outset with the able assistance coming from both the parties that the CIT(A)/NFAC has passed exparte order confirming the Assessing Officer’s action making section 68 addition of Rs. 10,00,000/- as unexplained cash credit without dealing with the relevant factual matrix as contemplated u/s. 250(6) of the Velayudhanparambil Kumran Rajeevan Act requiring him to frame points of determination followed by a detailed discussion thereupon. Faced with this situation, we deem it fit appropriate to restore this assessee’s appeal back to the CIT(A) for his afresh verification and adjudication with a rider that it shall be the assessee’s risk and responsibility only to plead and prove all the relevant facts within three effective opportunities of hearing, in consequential proceedings. Ordered accordingly.

This assessee’s appeal is allowed for statistical purposes in above terms. Order pronounced in the open court on 25th September, 2024.