2021 (6) TMI 810

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he order of the Ld. CIT(A)-1, Hyderabad in appeal No. 10358/2018-19/ITO 12(5)/CIT(A)-1/Hyd/2019-20, dated 29/07/2019 passed U/s. 144 r.w.s 250(6) of the Act for the AY 2016-17. 2. The assessee has raised four grounds in his appeal and they are extracted herein below for reference:- "1. On the facts and in the circumstances of the case, the order of the Ld. CIT(A)-1, Hyderabad enhancing the inco....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g his total income as Rs. 10,82,500/-. The case of the assessee was taken up for scrutiny and the assessment was completed on 8/12/2018 u/s. 144 of the Act because the assessee failed to respond to the notice of the ld. AO. Based on the materials before the Ld. AO, the Ld. AO made addition of Rs. 4,67,318/- estimating the profit derived from sale of shares/units and treated the same as speculative....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....using the order of the ld. CIT(A), it appears that the Ld. CIT(A) has not adhered to the provisions of section 251(2) of the Act. The Ld. AO has also passed an ex-parte order due to the non-cooperation of the assessee. Considering these facts, in the interest of justice, I hereby remit back the entire matter back to the file of the Ld. AO for de novo consideration. At the same breath, I hereby cau....