The Tribunal held that the Assessing Officer was to adjudicate the matter recording definite findings of fact, by a speaking order after allowing the assessee a reasonable opportunity of being heard in the matter and, needless to add, within the time frame permissible by the amended statute. Although this amounted to converting a section 144 assessment into a section 143(3) assessment, impermissible in law, a decision on the merits, after proper examination of evidence and hearing both the sides, was the only course warranted in the interest of justice. (AY: 2005-06)
ACIT v. Kamlesh Kumar Sahu (2022) 96 ITR 53 (SN) (Jabalpur) (Trib)
S. 144 : Best judgment assessment-Cash deposited in assessee’s Bank Account-Burden of proof on assessee that bank account not his-Matter remanded for adjudication afresh. [S. 143(3)]