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Judgment
T. S. Kapoor, Accountant Member
This is an appeal filed by the assessee against the order of Ld. CIT-VII, dated 15/07/2014 passed u/s 263 of the Act. None was present on behalf of the assessee. However, an application for adjournment was placed on record where the Ld. Counsel had requested for short adjournment. From the record, it was observed that the assessee through his counsel had moved an application dated 13/10/2015 for earlier fixation of the appeal. We also observed that the assessee has been taking adjournments and last adjournment was obtained on 13/03/2019 and the appeal was fixed for hearing on 27/06/2019, on which date bench did not function and therefore the appeal was fixed for hearing today i.e. 06/08/2019. Today also, the Authorized Representative has filed a request for short adjournment wherein he has submitted that they were in the process of returning the file back to the briefing counsel, therefore, keeping in view the facts and circumstances, the adjournment application of the assessee was rejected and we decided to pass the order ex-parte qua the assessee and Ld. DR was directed to proceed with his arguments.
The Ld. DR invited out attention to para 2 to 5 of the order of the Ld. CIT(A), wherein, he has held that assessee had purchased REC bonds beyond the period of six months from the date of transfer of assets and therefore the assessee was not eligible for deduction u/s 54EC of the Act and the Assessing Officer had ignored in his order and therefore it was prayed that the order passed by the Ld. CIT should be upheld.
Since, none was present on behalf of the assessee and no arguments were advanced against passing of order u/s 263 of the Act and moreover, the Assessing Officer has passed very cryptic order where he has not even mentioned the dates of investment in REC bonds u/s 54EC of the Act. In view of the above facts and circumstances, the order of the Ld. CIT is sustained and the appeal filed by the assessee is dismissed.
Finally, the appeal of the assessee is dismissed.