2022 (1) TMI 1192 - ITAT DELHI

Validity of Reopening of assessment u/s 147 - submission of non providing sufficient opportunity to the assessee - information was received that the assessee had made investment in shares of M/s. Mirzapur Chemicals Works Pvt. Ltd - on the basis that the Directors of M/s. Mirzapur Chemicals Works Pvt. Ltd. fail to attained the office of the AO made addition - HELD THAT:- Addition was made purely on the basis that the Director of M/s. Mirzapur Chemicals Works Pvt. Ltd. failed to attend the office of the assessing authority. It is seen that the Authorized Representative had categorically stated before the Assessing Officer that the Directors of M/s. Mirzapur Chemicals Works Pvt. Ltd. were out of station. The Assessing Officer had not given other opportunity to the assessee to support its contention.

Under these circumstances the assessee was not provided adequate opportunity by the Assessing Authority. Therefore, the impugned assessment order is set aside and assessment is restored to the file of the AO to make it denovo assessment after giving sufficient opportunity to the assessee. Further, the Assessing Officer would also advert to the objections of the assessee against the reopening of the assessment. The grounds raised by the assessee are allowed for statistical purpose