TaxTMI 
TaxTMI 
2015 (6) TMI 54
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....f unexplained stock of finished goods. 2.1 The Learned CIT(Appeals) ignored the finding recorded by the A.O. and the fact that the assessee did not file the requisite evidence during the course of reassessment proceeding despite having been provided with ample opportunities. 3. On the facts and in the circumstances of the case and in law, the Learned CIT(Appeals) has erred in deleting the addition of Rs. 28,80,609 made on account of shortage of finished goods and raw material. 3.1 The Learned CIT(Appeals) ignored the finding recorded by the A.O. and the fact that the assessee did not file the requisite evidence during the course of reassessment proceeding despite having been provided with ample opportunities. 4. On the facts and....
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....claimed on bogus purchases. 5. Aggrieved with the assessment order, the assessee preferred appeal before the Learned CIT(Appeals) and the Learned CIT(Appeals) vide her order dated 18.12.2003 allowed the appeal. The Learned CIT(Appeals) deleted all the additions mentioned above. The Revenue preferred appeal against the said order before the ITAT and the ITAT vide its order dated 03.10.2007 restored the matter back to the file of the Assessing Officer with the following observations: "11. In ground No.2 the Revenue has challenged the deletion of Rs. 1,14,95,416 on account of excess unexplained finished goods/rawmaterial, Rs. 28,80,609 on account of shortage of finished goods/rawmaterial and Rs. 19,88,497 on account of modvat claimed on ....
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....spects of the matter nor he examined the books of account and documents pertaining to survey. It is also to be pointed out that proceedings before the Settlement Commission and Central Excise Department on the basis of which the Assessing Officer has initiated proceedings, have not reached any final conclusion and therefore, the position is not clear. Under these circumstances, in our opinion, it will be proper if the matter is properly examined and all relevant aspects relating to various additions made and deleted are thoroughly considered. In fact, the at the time of hearing, both the parties agreed to such a course. Hence we set aside the findings of the Learned CIT(Appeals) in deleting the additions and restore the matter back to the f....
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....the Assessing Officer has not examined its case independently from the case of the Central Excise Department. He reiterated the submissions made on behalf of the assessee before the Learned CIT(Appeals). He submitted further that the details of stock were submitted to the Assessing Officer vide letter dated 17.12.2008 and some details were also submitted on 8.12.2008 but the Assessing Officer has not given any finding on those details and has simply repeated the addition made on earlier occasion in the assessment framed under sec. 147/143(3) of the Act. The Learned AR also referred page No. 116 of the paper book filed on behalf of the assessee which is the copy of the original assessment framed under sec. 143(3) on 29.2.2000, wherein it has....
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.... the assessee has filed part of the books, which have been duly considered by him. Thus, the Assessing Officer while passing the order on 31.3.2003, and the assessment order dated 30.12.2008 in question has not mentioned as to what were those details filed by the assessee stated to be in part and what he had found after examining those details. The Learned CIT(Appeals) has reproduced the following submissions of the assessee made before him against the assessment order in question: "The A.O. made additions merely on the findings of Central Excise Department. The A.O. has not checked any record. There was neither excess finished goods nor excess raw material on the date of search or even during the year under consideration. Had there been....
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....he additions on the basis that the fact and circumstances of the case remained unchanged in the reframed assessment order dated 30.12.2008. The Learned CIT(Appeals) has also reproduced his predecessor's order wherein it has been mentioned that the books of account were produced before the Assessing Officer during the course of assessment as well as reassessment proceedings; in the course of assessment proceedings, all the information and documents called for by the Assessing Officer were furnished; the books of account were audited by a firm of Chartered Accountants and their report was unqualified, full quantity tally of raw-material, finished goods etc. was maintained; the total turnover declared for the year has been accepted as correct ....