2013 (10) TMI 1084

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....i, Mr. C.S. Chauhan and Ms. Henna George, Adv ORDER :- Revenue by this appeal under Section 260A of the Income Tax Act, 1961 impugns findings of the Income Tax Appellate Tribunal that the Assessing Officer had wrongly invoked Section 154 of the aforesaid Act. The appeal relates to assessment year 2004-05. 2. Return filed by the respondent-assessee for the said year was made subject matter....

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....ribunal on the two grounds and this order dated 7th August, 2008, has been set aside. Firstly, the Assessing Officer had not complied with the principles of natural justice as he had earlier issued notice dated 18th March, 2008 for hearing fixed on 25th March, 2008, but the hearing on the said date was adjourned at the request of the respondent. Thereafter, no fresh date of hearing was fixed and o....

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....nce notice, has drawn our attention to the order passed by the CIT (Appeals), wherein he has recorded the contention of the respondent-assessee. It stated that Rs.1,94,51,222/- in the earlier assessment year i.e., 2003-04, was shown as expense in the profit and loss account, but it was added back in the tax computation sheet. As there was error in the profit and loss account of the last assessment....