2022 (5) TMI 938

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....ted u/s. 143(3) r.w.s. 147 of the Income Tax Act, 1961, on 29.12.2018 and determined total income at Rs. 3,41,260/- by making additions towards trade discount allowed by the assessee at Rs. 1,25,000/-. The case has been subsequently taken up for revision and notice u/s. 263 of the Income Tax Act, 1961 dated 16.12.2020 was served on the assessee. The assessee neither appeared nor filed any details in response to show-cause notice. Therefore, the learned PCIT passed order u/s. 263 of the Income Tax Act, 1961, and set aside assessment order passed by the Assessing Officer u/s. 143(3) r.w.s. 147 of the Act dated 29.12.2018 and directed the Assessing Officer to redo assessment in accordance with law. The relevant findings of the learned PCIT are....

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....cial to the interest of revenue. Accordingly, the order is set aside for the Assessing Officer to re do the assessment de novo after giving due opportunity to the assessee and take a judicious decision and pass an appropriate order." 3. The learned A.R. for the assessee submitted that the learned PCIT has passed order u/s. 263 of the Act without observing principles of natural justice, which is evident from the fact that the learned PCIT has passed order without affording reasonable opportunity of hearing to the assessee and thus, appeal maybe set aside to the file of the learned PCIT to give one more opportunity of hearing to the assessee. 4. The learned DR, on the other hand, supporting order of the learned PCIT submitted that when ....