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2023 (4) TMI 294 - ITAT LUCKNOWEx-parte order passed by CIT(A), NFAC - Deduction u/s. 57 denied - interest paid to Bank on overdraft facility - HELD THAT:- As contention of the ld. DR is correct that by and large the conduct of the assessee was of utmost recklessness and approach towards the proceedings has also been very casual. All the same, assessee should be given an opportunity to explain and demonstrate with evidence as to how the impugned amount is deductable u/s. 57 - restore the file to the office of the AO to decide the issue afresh after giving adequate opportunity to the assessee to explain and substantiate his case. Appeal of the assessee stands allowed for statistical purposes.
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