2022 (5) TMI 1540

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....SYAL, VP : This appeal by the assessee is directed against the order dated 18.03.2021 passed by the ld. Pr.CIT, Pune-1 u/s 263 of the Income-tax Act, 1961 (hereinafter referred to as "the Act") in relation to the assessment year 2015-16. 2. Briefly stated, the facts of the case are that the assessee, engaged in the business of manufacturing and trading of gold and silver ornaments, filed its....

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....ng any reply, the ld. Pr.CIT proceeded ex parte and held the assessment order to be erroneous and prejudicial to the interests of the Revenue. Setting aside the assessment order, he directed the Assessing Officer (AO) to revisit the issues discussed above after allowing proper opportunity of hearing to the assessee. 3. We have heard the rival submissions and perused the relevant material on rec....