VISHNUDAS JAGANNATH BIYANI, Beed V. Income Tax Officer, Ward-2, Beed, Beed

ITA 236/PUN/2023

AI Insights

The case involves an appeal by Vishnudas Jagannath Biyani against an order passed by the Principal Commissioner of Income Tax-1, Nashik under section 263 of the Income Tax Act, which was deemed erroneous and prejudicial to the interest of the Revenue for the assessment year 2010-11. The appeal was initially filed with a delay of 275 days, which was later condoned by the Tribunal. The core issue revolved around the assessment order dated 26-12-2017, which the Pr. CIT found lacking in examining certain financial aspects such as cash deposits, sundry debtors, and sundry creditors. The Tribunal, considering the circumstances and in the interest of justice, decided to remand the matter back to the Pr. CIT for a fresh assessment after providing a reasonable opportunity of hearing to the assessee.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 133003 (ITAT-PUNE)
• Duration Of Justice: 6 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 15-08-2023
• Assessment Year: 2010-2011
• Appeal Filed On: 26-02-2023
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 263

Judgement Text

आयकर अपीलीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.236/PUN/2023 धििाारण वर्ा / Assessment Year : 2010-11 Vishnudas Jagannath Biyani, C/o. Kapil Trading Company, Parli Vaijnath, Beed-431515 PAN : AJCPB5578P ......अपीलार्थी / Appellant बिाम / V/s. The Income Tax Officer, Ward – 2, Beed ......प्रत्यर्थी / Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Kesari सुनवाई की तारीख / Date of Hearing : 16-08-2023 घोषणा की तारीख / Date of Pronouncement : 29-08-2023 आदेश / ORDER PER S.S. VISWANETHRA RAVI, JM : This appeal by the assessee against the order dated 17-03-2021 passed u/s. 263 of the Act by the Principal Commissioner of Income Tax-1, Nashik (“Pr. CIT”) for assessment year 2010-11. 2. We note that this appeal was filed with a delay of 275 days. The assessee filed notarized affidavit dated 01-03-2023 explaining the reasons for the said delay. On perusal of the same and hearing both the parties, we are of the opinion that the assessee made out a sufficient cause which really prevented the assessee to file the present appeal in time. Therefore, the delay of 275 days is condoned. 2 ITA No. 236/PUN/2023, A.Y. 2010-11 3. At the outset, we note that the Pr. CIT invoked jurisdiction u/s. 263 of the Act and held the assessment order dated 26-12-2017 passed u/s. 143(3) r.w.s. 147 of the Act is erroneous and prejudicial to the interest of Revenue. We note that the Pr. CIT issued notice dated 28-02-2020 asking for explanation/submission of the assessee why the jurisdiction u/s. 263 of the Act should not be invoked. On an examination of para 3.1 of the impugned order, we note that there was no response by the assessee. The Pr. CIT conducted the proceedings ex-parte of the assessee and held that the AO has failed to examine the issues relating to cash deposits, sundry debtors and sundry creditors and quashed the order of AO with a direction to examine afresh, frame assessment after providing reasonable opportunity of hearing to the assessee. The ld. AR requested one more opportunity to the assessee and submitted that the assessee is ready to comply with the notices issued by the Pr. CIT. The ld. DR did not report any objection to the said submissions. Taking into consideration the facts and circumstances of the case and in the interest of justice, we deem it proper to remand the issue to the file of Pr. CIT for its fresh consideration. The assessee is liberty to file evidences, if any, in support of its claim. Thus, the grounds raised by the assessee are allowed for statistical purpose. 4. In the result, the appeal of assessee is allowed for statistical purpose. Order pronounced in the open court on 29 th August, 2023. Sd/- Sd/- (R.S. Syal) (S.S. Viswanethra Ravi) VICE PRESIDENT JUDICIAL MEMBER पुणे / Pune; दिनाांक / Dated : 29 th August, 2023. रदव 3 ITA No. 236/PUN/2023, A.Y. 2010-11 आदेश की प्रधिधलधप अग्रेधर्ि / Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant. 2. प्रत्यर्थी / The Respondent. 3. The Pr. CIT-1, Nashik. 4. दवभागीय प्रदतदनदि, आयकर अपीलीय अदिकरण, “बी” बेंच, पुणे / DR, ITAT, “B” Bench, Pune. 5. गार्ड फ़ाइल / Guard File. //सत्यादपत प्रदत// True Copy// आिेशानुसार / BY ORDER, वररष्ठ दनजी सदचव / Sr. Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune