TMI Blog2021 (8) TMI 1395X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee before the ld. PCIT made, the same is not reflecting in the order passed by the ld. PCIT dt. 13-03-2020, issued after four(4) days from the date of making such request. In that event, we find that the principle of natural justice has not been properly adhered to. Therefore, for the ends of justice, we find it fit and proper to set aside the issue to the file of the PCIT with a further direction upon him to adjudicate the matter on merits positively upon granting an opportunity of being heard to the assessee and upon taking into consideration the evidences. Appeal of the assessee is allowed for statistical purpose. - Shri P.M. Jagtap, V.P (KZ) And Smt. Madhumita Roy, JM For the Appellant : Shri Tejander Singh, Ld. A.R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hence, the delay is condoned. 3. The Ld. PCIT issued notice u/s. 263 of the Act dated 07-01-2020 with the prima-facie finding of failure on the part of the Ld.AO to assess the income of the assessee u/s. 144/147 of the Act and found it erroneous as it is prejudicial to the interest of the revenue within the ambit of section 263 of the Act with the following observations:- In this regard the following discrepancies have been observed: Information from Investigation Wing was received. On the basis of the same and after verification of information/records, the case was reopened u/s 147 of the I.T. Act, 1961. It was found that your company had received an amount of Rs. 4,95,00,000/- in the bank account(s) from various companies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 were issued, but he further submitted that the assessee has not received any one of the same. The Ld. Counsel for the assessee further drew our attention to page-13 of the P.B filed before us, wherein it is reflected that on 9-3-2020 the applicant has also sought for adjournment and prayer was made for fixing of the matter for hearing. It was further clarified by the assessee that he could come to know that the matter was fixed for hearing on 3-3-2020 only on 9-3-2020. There was some latches on their part due to illness of the partners of the assessee company for not being vigilant in the matter and finally the assessee prayed for granting of fresh date of hearing on a subsequent date. However, such plea was not taken into consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X
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