CANDID INDUSTRIES LIMITED, Hyderabad V. DCIT., Circle-1(1), Hyderabad

ITA 82/Hyd/2024

• Counselvise Citation: [2024] 101 COUNSELVISE.COM (IT) 8213 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 18-03-2024
• Assessment Year: 2013-2014
• Appeal Filed On: 29-01-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard

Judgement Text

ITA No 82 and 86 of 2024 Candid Industries Ltd Page 7 of 8 matter to the file of the Assessing Officer in the quantum appeal and therefore, the penalty which is an offshoot of the quantum proceedings are also required to be set aside to the file of the Assessing Officer. 6. The learned DR has no objection if the matter is sent back to the file of the Assessing Officer for deciding the penalty afresh along with the quantum assessment. 7. We have heard the rival arguments made by both the sides and perused the material available on record. We find the Tribunal vide order dated 28.12.2023 has remanded back the matter to the file of the Assessing Officer for the A.Y 2013-14 and 20161-17therefore, we deem it proper to remand back this penalty appeals which are sequel to the assessment order back to the file of the Assessing Officer with a direction to decide afresh after affording due opportunity of being heard to the assessee. In the light of the above, appeal of the assessee is allowed for statistical purposes. 9. In the result, appeal filed by the assessee for the A.Ys 2013-14 and 2016-17 are allowed for statistical purposes. Order pronounced in the Open Court on 20 th March, 2024. Sd/- Sd/- (R.K. PANDA) VICE-PRESIDENT (LALIET KUMAR) JUDICIAL MEMBER Hyderabad, dated 20 th March, 2024 Vinodan/SPS ITA No 82 and 86 of 2024 Candid Industries Ltd Page 8 of 8 Copy to: S.No Addresses 1 Candid Industries Ltd C/o P Murali Mohan & Co. CAs, 6-3-655/2/3, Somajiguda, Hyderabad 500082 2 Dy. CIT, Circle 1(1) Hyderabad 3 Pr. CIT - Hyderabad 4 DR, ITAT Hyderabad Benches 5 Guard File By Order