2021 (3) TMI 163

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d arisen before learned CIT(A) from assessment order dated 10.03.2015 passed by learned Assessing Officer (hereinafter called "the AO") u/s. 143(3) read with Section 148 of the Income-tax Act, 1961 (hereinafter called "the Act") for ay: 2011-12. We have heard both the parties through physical hearing in open court 2. The brief facts of the case are that the re-assessment in the case of the assessee was framed by AO u/s. 143(3) read with Section 148 of the 1961 Act vide reassessment order dated 10.03.2015, wherein additions to the tune of Rs. 34,00,000/- were made by the AO to the returned income of the assessee. 3. Aggrieved, by additions made by the AO, the assessee challenged the additions as were made by the AO by filing first appe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f litigation. The ld. DR fairly submitted that Revenue has no objection if the matter is restored to the file of learned CIT(A) for fresh adjudication on merits in accordance with law. 6. We have heard rival parties and perused the material on record. We have observed that the reassessment proceedings were initiated by Revenue by invoking provisions of Section 147/148 of the 1961 Act, which culminated into reassessment order dated 10.03.2015 passed by AO u/s. 143(3) read with Section 148 of the 1961 Act, wherein additions to the tune of Rs. 34,00,000/- were made by the AO to the returned income of the assessee. The assessee filed first appeal before learned CIT(A). The learned CIT(A) gave several opportunities of hearing to the assessee ....