Appeals allowed, orders set aside for reassessment. New evidence considered. Tribunal decision.

The appeals against the orders of the ld CIT (A)-I, Mumbai for the assessment years 1999-2000 and 2000-2001 were allowed for statistical purposes. The Tribunal set aside the orders and directed the AO to reframe the assessments after considering new evidence, finding the present case to be covered by a previous decision. The total income for the assessment year 1999-2000 was determined at Rs. 1,01,94,360, and for the assessment year 2000-2001 at Rs. 6,29,85,437. The appeals were dismissed by the CIT (A) but allowed by the Tribunal on 20th August 2010.

---

---

Issues involved: Appeals against separate orders dated 18.3.2008 of ld CIT (A)-I, Mumbai for the assessment years 1999-2000 and 2000-2001.

For the assessment year 1999-2000: The Assessing Officer observed fraudulent exports by M/s. Precision Shears & Knives Pvt Ltd. and M/s. Koyana Glass Works Pvt Ltd. The assessee did not file returns, leading to assessment u/s.144. Total income determined at Rs. 1,01,94,360. CIT (A) dismissed the appeal.

For the assessment year 2000-2001: Similar facts led to the AO determining total income at Rs. 6,29,85,437. CIT (A) dismissed the appeal following the assessment year 1999-2000.

Key Details: The Tribunal, in a similar case, set aside the order and directed the AO to frame the assessment afresh after considering new evidence. The Tribunal found the present case to be covered by the decision in the previous case. Consequently, both appeals were allowed for statistical purposes.

Judgment Date: Pronounced on 20th August, 2010.

---