2023 (5) TMI 359

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....Addl. CIT, Sr. D.R., appeared on behalf of the Revenue ORDER Per Shri Rajpal Yadav, Vice-President (KZ):- The assessee is in appeal before the Tribunal against the order of ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 26.12.2022 passed for A.Y. 2008-09. 2. The assessee has taken two grounds of appeal. However, its grievances revolve arou....

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....r section 144 of the Income Tax Act, i.e. according to the best judgment of the ld. Assessing Officer. It revealed that the assessee has received fresh share capital including share premium of Rs.3,93,00,000/-. In the original assessment order, the ld. Assessing Officer has determined the income at Rs.28,451/- and failed to take cognizance of this fact. The ld. Commissioner has set aside the origi....

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....ssee through Registered Post with acknowledgment, which has returned back with the postal remark "no such person in the given address". The second notice has also been returned with the same remark. Hence, under the compelling circumstances, we proceed to decide the appeal ex-parte. 6. With the assistance of ld. D.R., we have gone through the record carefully. We find that the assessee has rece....