2021 (6) TMI 1205

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.... Shri P. Chandra Sekhar, DR ORDER PER A. MOHAN ALANKAMONY, A.M: This appeal is filed by the assessee against the order of the Ld. Principal Commissioner of Income Tax-3, Hyderabad in F. No. Pr. CIT3/Hyd/263/2018-19, date 28/02/2019 passed U/s. 143(3) r.w.s 263 of the Act for the A.Y. 2014-15. 2. The assessee has raised eight grounds in its appeal and they are extracted herein below for....

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....6 made U/s. 143(3) of the Act. 6. The Learned Commissioner erred in assuming that the assessee obtained loans/advances in cash in violations of section 269SS of the IT Act. 7. The Learned Commissioner erred in setting aside the order without establishing the fact that the order originally passed U/s. 143(3) is erroneous and prejudicial to the interest of revenue. 8. The ....

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....refore the Ld. Pr. CIT had no other option but to pass ex-parte order based on the materials available on record. Hence, it was pleaded that the order passed by the Ld. Pr. CIT does not call for any interference. 4. We have heard the rival submissions and carefully perused the materials on record. On examining the facts of the case, We find merit in the submissions of the Ld. DR. The Ld. Pr. CI....