ITAT Raipur Remands Penalty Appeals for Fresh Hearing on Natural Justice Grounds

Tridev Ispat Private Limited Vs DCIT (ITAT Raipur) Short Notice, No Justice- Paper Opportunity Is No Opportunity- ITAT Raipur Holds Ex-Parte Dismissal Unsustainable Raipur Tribunal, dealt with two connected appeals filed by Tridev Ispat Pvt. Ltd. for AYs 2019-20 & 2020-21. Assessee, engaged in the manufacture of ingots, was subjected to a search & seizure operation u/s 132 on 22.01.2019. Consequent assessments were completed u/s 153A/143(3). For AY 2019-20, an addition of ₹3,60,400 was made on account of cash payments violating section 40A(3), resulting in penalty proceedings u/s 270...