9911796707
TMI Blog2025 (4) TMI 1562X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment order dated 06.03.2024 passed by the Assessment Unit, Income Tax Department u/s 143 (3) read with Section 144B of the Act (DIN:ITBA/AST/S/143(3)/2023- 24/1062071703(1). 2. The grounds of appeal raised by the assessee in Memorandum of Appeal filed with Income Tax Appellate Tribunal, New Delhi, reads as under: "1. That the Ld. CIT(A) has erred in law and the facts of the case by dismissing the appeal of the appellant ex parte, without deciding the same on the merits of the case. 2. That the Id. CIT(A) be directed to decide the appeal of the appellant on merits. 3. That the appellant respectfully craves leave to add alter omit or substitute any or all of the above grounds of appeal at any time before or at the time of heari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appeal. 5. Aggrieved, the assessee has now filed appeal with the Tribunal. At the outset Ld. Counsel appearing for the assessee submitted that the assessee has filed affidavit stating that the assessee has studied up to 12th standard only and have very little knowledge of income-tax. The assessee was carrying on the business of trading of medicine under the name of M/s Paras Medical Store. The assessee had undertaken transactions in derivatives in F&O of total sales value of Rs. 7,58,19,411/- and total buy value of all the transactions in F&O was Rs. 7,59,43,345/-. The assessee has shown the sales and purchases separately. The assessee has also submitted that since he was not well versed with e-mails and hence he could not comply with t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therein and the reasoning thereof. The learned CIT(A) has not dealt with the issue on merit and simply dismissed the appeal of the assessee on the ground that no compliance was made by the assessee. The claims and contentions of the assessee need verification and investigations of facts. Proceedings before ld. CIT(A) are extension of assessment. The powers of ld. CIT(A) are co-terminus with powers of the AO, which includes power of enhancement also. In the instant case, the learned CIT(Appeals) has not made any enquiry, nor any remand report was called by ld. CIT(A) from the AO, and the appeal of the assessee was dismissed by ld. CIT(A) ex-parte and without deciding the issues arising in the appeal on merits. The ld. CIT(A) is required and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating appeal as it will be an order passed without reasoning on the issues on merits. The appellate order of the CIT(A) is clearly in violation of section 250(6) of the Act and liable to be set aside. Merely stating that the assessment order passed by AO is upheld, and that the assessee has not submitted details/documents is not sufficient. The ld. CIT(A) is not toothless as his powers are co-terminus with the powers of the AO., which even includes power of enhancement. It is equally true that the assessee also did not complied with the notices issued by ld. CIT(A), and did not file the requisite details/documents to support his contentions. Thus, the assessee is equally responsible for its woes. Under these circumstances and fairness to bo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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