Ex-parte order of CIT(A) set aside as non-appearance of assessee was not wilful: ITAT Bangalore

Innovior Advisory Pvt Ltd Vs ITO (ITAT Bangalore) ITAT Bangalore held that hearing notices sent by CIT(A) was not received by the assessee since notices were sent to old auditor’s email ID. Thus, non-appearance was neither wilful nor wanton hence ex-parte order of CIT(A) set aside. Facts- AO made an assessment u/s. 143(3) of the Act in which he had estimated the share premium received by the assessee by following the Net Asset Value method rejecting the value adopted by the assessee under the Discounted Cash Flow method. CIT(A) had dismissed the appeal for the non-appearance of the assessee ...