2014 (8) TMI 163

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....4-05. In pursuance to the search and seizure operation, notice u/s 153C was issued to the assessee calling for returns of income. However, assessee did not comply to the same. During the assessment proceeding also, though the AO called for various information and details neither the assessee appeared nor filed any return of income. Subsequently, after repeated reminders, assessee filed its return of income on 15/02/2006 declaring "NIL' income. However, so far as other informations called for are concerned, assessee stated that necessary informations were furnished on 15/12/2006 by tapal. As noted by the AO in the assessment order, in absence of any information regarding the deferred revenue expenditure of Rs. 49,79,000/-, which was reduced ....

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.... sustaining the addition made by the AO. Being aggrieved of such order of CIT(A), assessee is in appeal before us raising as many as 9 grounds. 5. However, at the time of hearing, the learned AR submitted that due to unavoidable circumstances, assessee could not appear before the CIT(A) to represent his case. He, therefore, requested for granting opportunity to the assessee to represent his case before the CIT(A). 6. The learned DR, on the other hand, submitted that since the assessee inspite of several opportunities being granted to him failed to appear and represent his case, no leniency should be shown to it. 7. We have considered the submission of the parties and perused the material on record as well as the orders of the revenue aut....

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....ed that out of the total of 14 parties to whom sales have been made during the year, discount is allowed only to the following two parties: 1. Sujana Oil Products Rs. 6.10 crores 2. Sujana Universal Ltd. Rs. 13.8 crores When the AO called upon the assessee to justify the discount given, assessee submitted its explanation. However, the AO not being satisfied with the explanation of the assessee, disallowed trade discount of Rs. 19,91,52,720/-. Similarly, AO also disallowed depreciation claim of Rs. 43,35,602/-. As a result, total income was determined at Rs. 1,39,57,857/-. Being aggrieved of such assessment order, so passed, assessee preferred appeal before the CIT(A). 10. As it appears from the order of CIT(A) on examining the Memorandu....

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....11/02/2011. In view of the above, I would like to state that the appeal in respect of M/s Handum Industries Ltd., may please be considered and the delay may please be condoned and the appeal may please be accepted for the assessment year 2008- 09. You are there requested to kindly condone the delay in filing of the appeal which was beyond my control. I state that the delay is for good and sufficient reasons. What is stated above is true to the best of my knowledge and belief." 12. The learned AR has submitted that delay being bonafide and only for 12 days, it should be condoned and appeal be decided on merits. For that purpose, he requested to remit the matter back to the file of the CIT(A). It is an admitted fact that the assessee has ....