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2020 (6) TMI 665 - AT - Income TaxValidity of reopening of assessment - Non appearance by assessee - non-disclosure of profit on transactions at National Stock Exchange platform carried out by the assessee - Four Notices were issued by the AO but Assessee did not reply - important fact that was placed before the ld. CIT (Appeals) was that there was a fire on 9.11.2017 at the principal place of business of the assessee - HELD THAT:- We find that naturally if there is a fire then subsequent non-compliance within a short span of one month may be due to sufficient cause - non-compliance prior to that cannot be accepted in the civilized society. CIT (Appeals) has also not dealt with the issue on the merits of the case, but has merely brushed aside the arguments of the assessee and upheld the order of the AO - assessee could not get proper opportunity of explaining transactions before the lower authorities. We have given an offer to the AR to explain the transaction before the lower authorities by placing the accounts of the broker, the bank statement etc. with which he readily agreed. The purpose of making the assessment would be met if complete details are filed by the assessee before the Assessing Officer. Assessee has not co-operated before the lower authorities, precisely the Assessing Officer, we direct the assessee to deposit as a contribution ₹ 5,000/- to the Prime Ministers National Relief Fund as the public money is involved in the efforts of AO and same is wasted by non-compliance of the assessee. The learned Authorized Representative also agreed to that. There was no objection from the learned Departmental Representative, if the issue is set aside to the file of the Assessing Officer. In view of this, we direct the assessee to make the contribution as directed above on or before 30th June, 2020 and on or after 16th August, 2020 appear before AO with relevant information. - Appeal of the assessee is allowed, for statistical purposes.
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