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2019 (3) TMI 146 - AT - Income TaxRevision u/s 263 - Unexplained cash credit u/s. 68 - amounts received by the assessee towards share capital and share premium - as per assessee no proper opportunity was given to the assessee to discharge the onus casted upon it as required when section 68 - change in address of assessee initimated - summons u/s. 131 of the directors of the assessee company (to old address) - reassessment order ex parte by invoking sec. 144 - no proper opportunity provided to the assessee. HELD THAT:- Effective verification of the documents produced by the assessee could not be possible because within 30 days of the assessee submitted the written submission along with documents, the AO passed the “Best Judgment Assessment” u/s. 144 of the Act. And we note that other than issuing summons u/s. 131 of the directors of the assessee company (to old address) no other investigation as directed by Ld. CIT was conducted by AO as is discernable from the order. So, in the light of the aforesaid facts, we find force in the submission of the Ld. AR that no proper opportunity the assessee got during the reassessment proceedings before the AO. Since proper opportunity was not given to assessee by AO during the reassessment proceedings, we are of the opinion that assessee should get proper opportunity before the AO during reassessment proceedings. In the light of the Hon’ble Supreme Court’s decision in Tin Box Company [2001 (2) TMI 13 - SUPREME COURT] and taking into consideration the fact the order of the IT passed u/s. 263 of the Act in similar cases being upheld up to the level of Apex Court, and taking note of Hon’ble Delhi High Court’s order in Jansampark Advertising & Marketing Pvt. Ltd. [2015 (3) TMI 410 - DELHI HIGH COURT], we set aside the order of the Ld. CIT(A) and remand the matter back to the file of AO for de novo assessment and to decide the matter in accordance to law after giving opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes.
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