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TMI Blog2022 (11) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... ase, in order to meet the principles of natural justice. We therefore, remit the matter back to the file of the Ld.Pr.CIT to give one more opportunity of being heard to the assessee. Appeal of the assessee is allowed for statistical purpose. - I.T.A.No.237/Viz/2021 - - - Dated:- 14-10-2022 - Shri Duvvuru Rl Reddy, Hon ble Judicial Member And Shri S Balakrishnan, Hon ble Accountant Member For the Appellant : Shri GVN Hari, AR For the Respondent : Shri M.N.Murthy Naik, CIT(DR) ORDER PER SHRI DUVVURU RL REDDY, JUDICIAL MEMBER : Condonation of Delay : This appeal is filed by the assessee against the order of the Principal Commissioner of Income Tax [in short, [Pr.CIT], Visakhapatnam-1 in DIN Letter No.ITBA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the period of limitation provided in the said order of the Hon ble Supreme Court dated 10.01.2022, respectfully following the order of the Hon ble Apex Court, we condone the delay and admit the appeal for hearing. 3. Brief facts of the case are that the assessee is an individual, filed his return of income for the A.Y.2016-17 on 28.09.2017, admitting total income of Rs.8,49,590/- under the heads income from house property and income from business . The case was selected for complete scrutiny under CASS to verify the reason large turnover shown in ITR but Audit Report (3CD Form) not filed . The assessment was completed u/s 143(3) of the Income Tax Act, 1961 (in short Act ) on 18.12.2018, assessing the total income at Rs.11,15,810/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... consideration of the house purchased as income from other sources u/s 56(2)(vi)(b)(ii) of the Act, after affording opportunity of being heard to the assessee. 4. On being aggrieved, the assessee preferred an appeal before the Tribunal and raised the following grounds : 1. The order of the learned Principal Commissioner of Income Tax is contrary to the facts and also the law applicable to the facts of the case. 2. The learned Principal Commissioner of Income Tax is not justified in assuming jurisdiction u/s 263 of the Act in as much as the assessment order dated 18.12.2018 u/s 143(3) of the Act is neither erroneous nor prejudicial to the interests of revenue. 3. The learned Principal Commissioner of Income Tax erred in dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld.Pr.CIT, requested to uphold the same and dismiss the appeal of the assessee. 8. We have heard both the parties and perused the material placed on record. It is an admitted fact that the Ld.Pr.CIT has not given sufficient opportunities to the assessee to explain and substantiate the case of the assessee. Therefore, we are of the firm view that the assessee should be given an opportunity to explain his case, in order to meet the principles of natural justice. We therefore, remit the matter back to the file of the Ld.Pr.CIT to give one more opportunity of being heard to the assessee. 9. In the result, the appeal of the assessee is allowed for statistical purpose. Order pronounced in the open court on 14th October, 2022. - - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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