LOHANA STEEL PVT. LTD.,VADODARA vs. THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2), VADODARA

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ITA 403/AHD/2024Status: DisposedITAT Ahmedabad01 November 2024AY 2015-16Bench: DR. BRR KUMAR (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal acknowledged the assessee's submission and the CIT-DR's concession. The case was remitted back to the CIT(A) for a fresh adjudication on merits, with the assessee directed to comply with future notices.

What were the facts?

The assessee's appeal was against the CIT(A)'s order confirming the rejection of its books of accounts and estimating income at a 5% GP rate. The assessee claimed it couldn't submit details due to a dire situation, leading to an ex-parte order.

What were the issues?

Whether the CIT(A) erred in confirming the rejection of books of accounts and estimating income without proper adjudication on merits, and if the assessee should be given an opportunity to present its case.

Which sections of the Income-tax Act were involved?

Section 145(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, AHMEDABAD

Before: DR. BRR KUMAR & SHRI SIDDHARTHA NAUTIYAL

For Appellant: Shri Jignesh Parikh, A.R
For Respondent: Shri Prothviraj Meena, CIT-DR
Hearing: 24.10.2024Pronounced: 04.11.2024

(Assessment Year: 2015-16) Lohana Steel Pvt. Ltd., Vs. Deputy Commissioner of 1, C/o. Vijay Lokhand Bhandar Income Tax, Dabhoi Road, Pratapnagar, Circle-1(1)(2), Vadodara-390004 Vadodara [PAN No.AAACL3235B] (Appellant) .. (Respondent) Appellant by : Shri Jignesh Parikh, A.R. Respondent by: Shri Prothviraj Meena, CIT-DR Date of Hearing 24.10.2024 Date of Pronouncement 04.11.2024 O R D E R

PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:

1.

This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short “Ld. CIT(A)”), National Faceless Appeal Centre, (in short “NFAC”), Delhi vide order dated 08.02.2024 passed for A.Y. 2015-16.

2.

The Assessee has taken the following grounds of appeal:-

“1. On the facts and in the circumstances of the case as well in law, the (Appeals) NFAC, New Delhi erred in confirming the action of Ld. AO in rejecting the books of Accounts u/s 145(3) of The Income Tax Act, 1961.

2. On the facts and in the circumstances of the case as well in law, the (Appeals), NFAC, New Delhi erred in estimating the income of the appellant by applying the GP of 5% as against the returned loss of Rs. 84,66,872/-.

3.

The appellant further reserves its right to add, alter, amend or modify any of the aforesaid grounds before or at the time of hearing of an appeal.”

4.

The Ld. Counsel for the assessee submitted that the assessee was in dire situation which prevented him to submit the details before the Ld. CIT(A) which led to passing of an ex-parte order and prayed that given an opportunity all the required details would be submitted before the Revenue Authorities.

5.

The Ld. CIT D.R. fairly accepted that the matter needs to be looked into on the merits of the issue by the Ld. CIT(A). Hence, the case is remitted to the Ld. CIT(A) to adjudicate the issue afresh. The assessee shall comply to all the notices issued by the Ld. CIT(A) from time to time without fail. Hence, the appeal of the assessee is allowed for statistical purposes.

6.

In the result, the appeal of the assessee is allowed for statistical purposes.

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