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ITAT set aside ex-parte order passed by CIT(Appeals)/NFAC against assessee for non-compliance with hearing notices regarding undisclosed cash payments. Tribunal granted final opportunity to assessee, considering benefit of doubt and circumstances beyond assessee's control preventing representation. Matter remanded to CIT(Appeals)/NFAC for de novo adjudication following precedent established in similar case. ITAT noted assessee's involvement in substantial unaccounted investments and money rotation through related entities, directing revenue authorities to conduct detailed investigation to determine whether transactions constitute legitimate tax planning or tax evasion. Tribunal emphasized that if fraud is established, it vitiates everything including natural justice principles, requiring assessee to approach court with clean hands. Appeal allowed for statistical purposes with mandate for thorough examination of potential sham transactions.
ITAT set aside ex-parte order passed by CIT(Appeals)/NFAC against assessee for non-compliance with hearing notices regarding undisclosed cash payments. Tribunal granted final opportunity to assessee, considering benefit of doubt and circumstances beyond assessee's control preventing representation. Matter remanded to CIT(Appeals)/NFAC for de novo adjudication following precedent established in similar case. ITAT noted assessee's involvement in substantial unaccounted investments and money rotation through related entities, directing revenue authorities to conduct detailed investigation to determine whether transactions constitute legitimate tax planning or tax evasion. Tribunal emphasized that if fraud is established, it vitiates everything including natural justice principles, requiring assessee to approach court with clean hands. Appeal allowed for statistical purposes with mandate for thorough examination of potential sham transactions.
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