Tribunal orders fresh adjudication on notice issuance under Section 143(2)

The Tribunal set aside the matter to the CIT(A) for fresh adjudication, specifically to verify the issuance of notice under Section 143(2). The appeal was allowed for statistical purposes, and other grounds were left open for consideration during the re-adjudication process.

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Issues Involved:
1. Ignoring submissions by the appellant.
2. Denial of deduction under Section 54B.
3. Addition of Rs. 49,51,437 without mandatory notice under Section 143(2).
4. Validity of reassessment without providing reasons for reopening.

Summary:

1. Ignoring Submissions by the Appellant:
The assessee contested that the CIT(A) erred in ignoring the submissions made via letter dated 26.12.2019 and dismissed the appeal without considering the appellant's submissions. The action of CIT(A) was deemed arbitrary, unlawful, and unjustified.

2. Denial of Deduction under Section 54B:
The assessee claimed a deduction under Section 54B of the Income-tax Act, 1961, for the purchase of new agricultural lands amounting to Rs. 62.46 lacs. However, the A.O. denied this deduction except for the land purchased in the assessee's name at Village Alekhunta on 28.09.2012. The A.O. noted that other investments did not qualify for deduction as they were either purchased in the names of others or outside the stipulated period.

3. Addition of Rs. 49,51,437 without Mandatory Notice under Section 143(2):
The assessee argued that the assessment order was void ab-initio as it was passed without issuing a mandatory notice under Section 143(2). The Tribunal observed that the issuance of notice under Section 143(2) is foundational for a valid assessment under Section 143(3). The A.O. failed to provide specific evidence of issuing such notice. Consequently, the Tribunal directed the CIT(A) to re-adjudicate this issue, verifying whether the notice under Section 143(2) was issued. If it was found that no such notice was issued, the assessment order would be quashed.

4. Validity of Reassessment without Providing Reasons for Reopening:
The assessee raised an additional ground that the reassessment was completed without providing the reasons recorded for reopening the case, rendering the reassessment order unsustainable. The Tribunal did not specifically address this issue separately but implied that it would be considered in the re-adjudication process.

Conclusion:
The Tribunal set aside the matter to the CIT(A) for fresh adjudication, specifically to verify the issuance of notice under Section 143(2). The appeal was allowed for statistical purposes, and other grounds were left open for consideration during the re-adjudication process.

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