2013 (12) TMI 529

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....rofit & Loss Account and TDS certificate. 2. The Ld.CIT(A) has further erred in not appreciating the fact that the appellant has passed off major portion of commission received to his clients and has produced all the relevant documents before the Assessing Officer and the Commissioner of Income Tax Appeals. 3. The Ld.CIT(A) has not appreciated the fact that the appellant has even obtain TDS certificate u/s 197(1) from ITO (TDS) 3(1) for lesser deduction of TDS on the above fats and accepted practice in the industry. 4. The Ld.CIT(A) has erred in treating the Short Term Capital Gain of Rs.20,23,004/- as Business Income as against Short Term Capital Gains declared by the appellant. 5. The Ld.CIT(A) has further erred in accepting t....

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....d order, the assessee is in appeal before us. 5. At the outset, the additional grounds no. 7-9 are purely legal in nature and go to the root in relation to the assessability of the impugned amounts. The same do not require verification of new facts or material. Respectfully following the judgment of the Hon'ble Supreme Court in the case of NTPC 229 ITR 383, we admit the additional grounds. 6. Before us, the Ld.AR has stated that during the assessment proceedings by the AO, the assessee has been served with the show cause notice on 29.12.2008 to which an instant reply was insisted upon by the AO as the assessment is getting time barred two days later on 31.12.2008. The reply to the show cause notice has been filed on the same day i.e.,....