2026 (7) TMI 1227

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....has arisen from the assessment order dated 03.12.2019 passed by the AO u/s 147 read with Section 143(3) of the 1961 Act. 2. The brief facts of the case are that the assessee is engaged in the business of manufacturing and sale of piston ring and castings. Reassessment proceedings were initiated by the AO for reopening of the assessment u/s 147/148. The details of aforesaid proceedings are enumerated by the AO in its assessment order. The assessee filed return of income in response to notice issued u/s 148, declaring income of Rs. 2,37,88,400/-. The assessee participated in reassessment proceedings, and filed replies. The AO observed that the assessee has not filed its return of income originally u/s 139 of the 1961 Act. The AO accepted r....

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....the appeal of the assessee stood dismissed by ld. CIT(A). 4. Still aggrieved, the assessee filed second appeal with the Tribunal. None appeared on behalf of the assessee when this appeal was called for hearing before the Bench. Adjournment application was filed through email, which was rejected by the Bench. 4.2 Ld. Sr. DR submitted that the assessee did not participated in the appellate proceedings before ld. CIT(A), as the assessee sought adjournments and no response/reply was filed. He relied upon the orders of authorities below. 5. We have considered rival submissions and perused the materials available on record. The brief facts are reproduced by us in the preceding para's of this order. The short issue before us is with respe....

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....of interest u/s 234A and 234B. We have observed that Ld. CIT(A) did not even call for the assessment records before dismissing the appeal of the assessee, as ld. CIT(A) could have verified the computational aspect of levying of interest u/s 234A and 234B. The ld. CIT(A) is required and obligated to pass appellate order in compliance with the provisions of section 250(6), as ld. CIT(A) is required to pass reasoned and speaking order on merits in accordance with law. Reference is drawn to provisions of Section 250(6), wherein ld. CIT(A) has to state point for determination, his decision and reasons thereof. The ld. CIT(A) did not called for the assessment records from the AO to verify the working of computation of interest u/s 234A and 234B. ....