2014 (6) TMI 662

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ay and stated the reasons for not filing the appeal within the period of limitation is that Mr. Rajesh Vadgama, Managing Partner of the assessee was hospitalized during the period. 2. We have heard the Ld. Authorized Representative as well as Ld. DR and considered the record for condonation of delay. The assessee has explained the reasons for delay as hospitalization of the Managing Partner. Further the issues involved for the A.Y. 2008-09 and 2007-08 are common. Appeal for A.Y. 2007-08 was filed by the assessee within the time and, therefore, in the facts and circumstances of the case, we are satisfied that the assessee was having sufficient casue for non filing of appeal for the A.Y. 2008-09 within the period of limitation. Accordingly....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pleting assessment u/s 144 of the Act. 2. On the facts of the case the LAO erred in assessing income from Rental business from leased premises as "Income from House Property". 3. On the facts of the case the LAO erred in unfairly adding sundry creditors of Rs. 37,26,971/- under section 41(1) of the LT. Act, 1961. 5. The assessment orders for both the assessment years were passed u/s 144 of the Income Tax Act as nobody appeared before the Assessing Officer. For the A.Y. 2007-08, none has appeared on behalf of the assessee even before the CIT(A) and, therefore, the appeal of the assessee was decided ex parte. For the A.Y. 2008-09 though the representative of the assessee appeared before the CIT(A) however, the CIT(A) has decided the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....from house property. The Ld. Authorized Representative has submitted that the additional evidence sought to be filed by the assessee is relevant to determine the real nature of the income and the authorities below have decided the same without considering the relevant evidence. Since the additional evidence goes to the root of the issue, therefore, it is pleaded that the additional evidence may be admitted in the interest of justice. He has relied upon the decision of Hon'ble Jurisdictional High Court in the case of Smt. Prabhavati S. Shah Vs. CIT ( 231 ITR 1). 7. On the other hand, the Ld. DR has submitted that when the additional evidence sought to be filed at this stage was available with the assessee then the assessee should have fil....