2026 (7) TMI 781

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to the directions of learned Dispute Resolution Panel ('DRP'). 2. The grounds raised by the assessee are as under: "1. On the facts and circumstances of the case the Ld. DRP and Ld. AO has not given proper opportunity of being heard to the appellant. 2. On the facts and circumstances of the case the Ld. DRP has erred in law and fact in confirming the assessment proceedings even though the assessment order is showing the status as a resident even though the assessee is a non-resident. 3. On the facts and circumstances of the case the Ld. DRP has erred in law and fact in also not deleting the closing balance of Rs. 13,35,899.88 as on 31.03.2016 in HDFC Bank NRO account so it cannot be treated as the income for t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me voluntarily under Section 139(1) of the Act. From the information available in the ITBA/Insight Portal of the Department, the Assessing Officer found that during the year under consideration, the assessee had following transactions: (i) Payment made to non-residents of Rs. 2,86,782/-. (ii) Payment deposits should be Rs. 30,00,000/- . (iii) Purchase of foreign currency Rs. 38,33,956/-. Since the assessee had not filed any return of income, the Assessing Officer, having reason to believe that income is chargeable to tax have escaped assessment, reopened the assessment under Section 147 of the Act. As observed by the Assessing Officer, though show cause notice under Section 148A(b) of the Act was issued to the assessee, however, the assesse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... draft assessment order and not to any other issue, learned DRP rejected the objections of the assessee. Accordingly, the final assessment order was passed. 4. Before us, learned counsel appearing for the assessee submitted that since the Assessing Officer has treated the status of the assessee as a resident, he could not have proceeded to pass draft assessment order under the provisions of Section 144C(1) of the Act. Without prejudice, he submitted that neither the Assessing Officer nor learned DRP have afforded reasonable opportunity of being heard to the assessee. He submitted, even the DRP has not examined the merits of the additions made by the Assessing Officer. Learned DR submitted that since the assessee did not participate in th....