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Issues involved: Appeal under Section 260-A of the Income-tax Act, 1961 regarding the confirmation of assessment order made u/s. 158BD r.w.s. 144 of the I.T. Act.
Summary: The appeal involved a case where a search was conducted in the Khadkhad Group cases, revealing undisclosed income. The assessment was made under Section 158BD of the Act, but the Commissioner (Appeals) annulled the assessment order due to lack of opportunity provided to the agent. The Tribunal upheld this decision, emphasizing the necessity of giving an opportunity of hearing to the person to be treated as an agent, as per Section 163(2) of the Act. The appellant Revenue argued that since the notice was served on the agent and no objection was raised, it should be deemed that an opportunity of hearing was granted. However, the Tribunal found no such opportunity was given, leading to the dismissal of the appeal. The judgment highlighted Section 163 of the Act, which defines who may be regarded as an agent, emphasizing the requirement of providing an opportunity of being heard before treating a person as the agent of a non-resident. Without such an order under Section 163, the concerned person is deprived of the right to challenge the decision. In this case, the agent did not meet the criteria specified under Section 163(1) of the Act. Ultimately, the Tribunal's decision was upheld, as no substantial question of law was found to warrant interference with the impugned order. The appeal was dismissed accordingly.
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