2020 (12) TMI 296 - ITAT DELHI - Income Tax

Head Note / Extract:
Penalty u/s 27IB - assessee has maintained proper books of account and accounts are also Audited by Chartered Accountant - HELD THAT:- CIT(A) has not given any categorical finding on merit of the case and dismissed the appeal on the ground of non-prosecution of appeal. It is also observed that the CIT(A) did not give sufficient opportunity of hearing to the assessee. CIT(A) was not right in dismissing the appeal of the assessee without giving proper opportunity of hearing. We are remanding back the entire issue to the file of the CIT(A) to be decided on merit. Needless to say, the assessee be given opportunity of hearing by following principles of natural justice. The appeal of the assessee is partly allowed for statistical purpose.