2025 (12) TMI 169

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....2. At the very outset, it is noted that hearing of the present case had started since 08th July, 2025 and finally, it was taken as heard today i.e. 03.11.2025. In the entire span of time, the matter was posted for hearing on 11.08.2025, 01.09.2025, 15.09.2025, 09.10.2025 and 03.11.2025 and in all these occasions, there were neither any compliances from the assessee for hearing nor any adjournment application had been filed. Even when the matter was called for hearing today, there was none present from the assessee. That from record, it is amply clear that several opportunities have already been provided to the assessee which the assessee had not availed off and as per direction of the Hon'ble Apex Court in the case of Ishwarlal Mali Rathod ....

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....sed by the Pr. CIT, dated 20.03.2025 for A.Y.2015-16 u/s.263 of the Act. The assessee being individual had filed return of income on 19.10.2022 in response to the notice u/s. 148 of the Act declaring total income of Rs. 19,10,820/-. The assessee derives income from the business of sales of foreign liquor and country liquor. During the course of assessment proceedings, the assessee submitted that the case deposits of Rs. 1,23,14,705/- made by him in his bank account maintained with Punjab National Bank and Rs. 12,76,500/- in Dena Bank was from sale of liquor and liquor business all the sales were done in cash. The A.O accepted the returned income and being satisfied with the reply of the assessee vide order dated 24.03.2023 u/s. 147/144B of ....

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....y has been conducted. That going through the assessment order, it is absolutely clear that such assessment has been done in a summary manner accepting the return income as well as the reply of the assessee. That on plain reading of Section 263 of the Act a/w. Explanation-2 of the said provision of the Act, since the assessment order has been passed without making inquiries or verification and the order is passed allowing relief without inquiring into the claim and also considering the deeming nature in Explanation-2, the assessment order, therefore, is erroneous in so far it is prejudicial to the interest of the revenue. 6. In the cases of Rampyari Devi Saraogi Vs. Commissioner of Income-Tax, West Bengal, Calcutta, 67 ITR 84 (SC) and Smt....