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TMI Blog2021 (6) TMI 1109X X X X Extracts X X X X X X X X Extracts X X X X ..... an says that such a direction would satisfy the petitioner. Therefore, the assessment order, passed under Section 143(3) of the Act, dated 13.03.2021, is set aside. AO will be at liberty to pass a fresh order, after considering the reply/submissions, filed by the petitioner, dated 12.03.2021. The AO will accord a personal hearing to the authorized representative of the petitioner, and for this purpose, he/she will indicate, in writing, the date and time of the hearing. The AO will transmit this information via the registered e-mail ID of the petitioner. Furthermore, the A.O. will ensure that the link for the hearing is also sent to the petitioner. X X X X Extracts X X X X X X X X Extracts X X X X ..... mpugned assessment order was passed on 13.03.2021, without having regard to the aforesaid reply dated 12.03.2021 submitted by the petitioner. 3. A perusal of the impugned assessment order shows that the AO has made an addition to the petitioner's declared income of ₹ 9,56,00,000/- under Section 68 of the Income Tax Act, 1961 (in short "the Act") concerning the assessment year 2018-2019. The addition has been made on account of purported unexplained, unsecured loans. 3.1. It is Mr. Lakshmikumaran's contention that, the petitioner had, via the material placed before the AO, along with its reply dated 12.03.2021, explained and attempted to establish the genuineness of the unsecured loans received by the petitioner. 4. Mr. Zoheb Hos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dingly assessment order has been passed based on the details available on record." [Emphasis is ours] 5.1. Furthermore, as noticed above, although, a personal hearing was sought by the petitioner, the same was not granted by the AO. 6. Given these circumstances, we are of the view, that the petitioner has been able to establish, at least at this stage, a prima facie case in its favour. 7. Accordingly, issue notice. Mr. Hossain accepts service on behalf of the respondents/revenue. 7.1. Let the counter-affidavit be filed within three weeks from today. Rejoinder thereto, if any, will be filed before the next date of hearing. 8. In the meanwhile, there shall be a stay on the operation of the impugned assessment order till further ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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