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2022 (5) TMI 1540 - ITAT PUNERevision u/s 263 - CIT observed that the assessee contravened the provisions of section 40A(3) and also that the income declared during the course of survey on account of excess stock was not declared - These issues were found not to have been considered by the Assessing Officer at the time of completing the assessment - Pr.CIT proceeded ex parte and held the assessment order to be erroneous and prejudicial to the interests of the Revenue - HELD THAT:- Pr.CIT did not himself adjudicate on the two issues espoused by him for revision primarily on the ground that the assessee did not furnish any reply by the stipulated date. Though the assessee furnished its reply giving necessary details on 15.03.2021, being, the same date as given by the ld. Pr.CIT for making submissions, the ld. Pr.CIT passed order on 18.03.2021 without taking note of such replies. This shows that the impugned order has been passed without considering the replies of the assessee. Under these circumstances, we are of the considered opinion that it would be in the fitness of things if the impugned order is set aside and the matter is restored to the file of the ld. Pr.CIT. We order accordingly and direct him to pass the revisionary order afresh as per law after allowing reasonable opportunity of hearing to the assessee and taking into consideration the replies already filed by the assessee and any further reply that the assessee may seek to lodge. Appeal is allowed for statistical purposes.
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