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Judgment
PER ANUBHAV SHARMA, JM:
The appeal along with application for early hearing was listed today and on hearing both side we find that in an order passed u/s 147/144 of the Income Tax, Act, 1961 addition of only Rs.3,00,000/-have been made u/s 68 on account of alleged unexplained cash credits.
Assessee had failed to appear before ld. CIT(A) where the appeal was dismissed for non appearance.
We find that there is a delay in filing of the appeal also.
Ld. Counsel has apprised that the chartered accountant who was engaged by the assessee lacked professional competence to assist the assessee and failed to represent the case of the assessee. It was also pointed out that assessee company discontinued the business operation and managing director of the company, Vinod Kathuria, is aged 70 years and suffering many health issues for which relevant documentary evidences have been filed. It was also pointed out that for AY: 2012-13 in the case of Vinod Kathuria vide order date 06.03.2025 Coordinate Bench had set aside the order for fresh assessment before the assessing officer.
In the light of aforesaid facts and circumstances the Bench was of the considered view that no purpose would be served by keeping appeal pending by granting an early hearing. The issue involved is only of addition of Rs.3,00,000/- and assessee needs to be given an opportunity to contest on merits before ld. Tax authorities below.
Accordingly, condoning the delay for filing the appeal before the Tribunal, the appeal of the assessee is allowed for statistical purposes and issue on merits, as well as law, are restored to the files of ld. Assessing Officer to give fresh opportunity of hearing to the assessee and pass order afresh.