TMI Blog2022 (3) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... ount which was not mentioned in the balance sheet. The assessee's grievance before the CIT(A) was that the entire credit in that account even after explaining the transactions has been added to the income of the assessee. As been submitted by the Ld. AR that the explanation offered by the assessee has not been duly considered by the AO. CIT(A) has also passed ex-parte order in violation of pri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 018 pertaining to assessment year ( AY ) 2013-14. 2. The assessee is a company deriving income from consultancy services. It filed its return of income on 25.8.2014 declaring income of ₹ 2,070/-. The case was selected for scrutiny under CASS. The Assessing Officer ( AO ) issued statutory notices along with questionnaire during the course of assessment proceedings. According to the Ld. AO, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. During the assessment proceedings, Ld. AR of the assessee submitted vide letter dated 14.3.2016 that I had taken data from the balance sheet where no bank account shown in the balance sheet. The assessee did not clarify whether he is having bank account or not. The auditor did not detect the same. The reply of the assessee was not acceptable to the Ld. AO. Since the transaction recorded in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has ever been received/served upon the assessee and thus the impugned order passed by Ld. CIT(A) is in violation of principles of natural justice. 6. We have heard the Ld. Representatives of the parties and perused the material on record. We are of the opinion that the matter deserves to be remanded back to the Ld. AO. The Ld. DR had no objection. 7. It is observed from the statement of fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if the matter is remanded to the Ld. AO for fresh adjudication. Since the assessee has accepted that it had a bank account which was not mentioned in the balance sheet, let the Ld. AO scrutinise thoroughly the entire transactions recorded therein and arrive at a correct and lawful conclusion after affording reasonable opportunity of being heard to the assessee. We order accordingly. 8. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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