Case Law Details
Integrated Finance Company Limited Vs ACIT (ITAT Chennai)
The ld. Counsel for the assessee has submitted that the assessee company, being under liquidation, was under strenuous pressure of running behind the Hon’ble High Court and public depositors as well as bond holders for consolidation and recover the dues with lack of sufficient staff and thereby could not put appearance before the ld. CIT(A) and prayed for one more opportunity of being heard to the assessee to substantiate its claim before the ld. CIT(A).
In this case, the assessee has not availed the opportunity of being heard accorded by the ld. CIT(A) on 23.05.2017, 16.06.2017, 16.08.2017, 15.09.2017, 08.11.2017 and 22.11.2017. We have also considered the detailed submissions made by the ld. Counsel. Taking into consideration of the entire facts and circumstance of the case, we are of the considered opinion that in order to meet the ends of natural justice, that to, the assessee is under liquidation, one more opportunity should be afforded to the assessee to substantiate its case before the ld. CIT(A). Accordingly, we remit the entire issues to the file of the ld. CIT(A) for fresh adjudication after considering the materials/explanation as may be submitted by the assessee.
FULL TEXT OF THE ORDER OF ITAT CHENNAI
This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 13, Chennai dated 01.12.2017 relevant to the assessment year 2006-07.
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