2012 (9) TMI 623

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....S.RAVINDRA BHAT (OPEN COURT)   The Revenue claims to be aggrieved by the order of ITAT passed in ITA No.1522/DEL/2010 and ITA No.2727/DEL/2010. The question of law sought to be urged is whether the Tribunal fell into the error in upholding the deletion of Rs.1,01,00,000/- under Section 69A on the ground that appropriate opportunity had been denied to the assessee.   2. The brief fa....

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....llate Commissioner. The assessee and the Revenue felt aggrieved as far as question of validity of reassessment was concerned on the merits of reassessment order. The Tribunal rejected both the appeals. The assessee has not questioned the reopening of the assessment under Section 147-148. The Tribunal's reasoning as far as it upholds the Appellate Commissioner's order vis-à-vis deletion of a....

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....ut by the AO to sustain this addition. (iv) Cross-examination of Shri Brij Mohan Gupta was never allowed despite CIT(A)'s direction and remand of the matter. (v) The assessee firm had strongly denied having any financial transaction with Mr. Brij Mohan Gupta. 10.1. In view of these findings, CIT(A) has rightly held that the addition made by the AO, without any corroborative evidence, what....

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....ugned order." 4. In the present case, the AO has referred to certain materials. A close reading of the assessment order discloses that neither has the contentions of the assessee been discussed nor any attempt made to connect entry 177 with the assessee. It is also apparent from the Appellate Commissioner's order that these matter were not put to the assessee. Consequently, there cannot be two ....