2015 (11) TMI 1293

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....) of the IT Act 1961 without appreciating the facts of the case and by quoting precedents of various courts without relating these to the facts in issue. 2. That the Id. Commissioner of Income Tax (Appeals)-II, Kanpur has erred in law and on facts in deleting the addition of Rs. 24,70.124/- made as unexplained investment on account of sales without appreciating the facts the AO had scrutinized the sales/ purchase account. 3. That the order of the Id. Commissioner of Income Tax (Appeals) being erroneous, unjust and bad in law be vacated and the order of the Assessing Officer be restored. 4. That the appellant craves leave to modify any of the grounds of appeal or take additional ground during the pendency of this appeal. " 3. Learned....

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.... the reopening was baseless. 5. After observing this, Ld. CIT(A) has stated on the same page of his order that the AO has not appraised any of the evidence, rendered to in his remand report while framing the order and making assessment and therefore, its conclusion is not based any material in his position and he simply assessed by trade tax authority. After making this disallowance, he held that making an assessment in such a manner is fairly not permissible and is contravention of the judgment of the Hon'ble Supreme Court rendered by Ld. AR in his submission. We fail to understand this finding of Ld. CIT(A) after observing this in the preceding para that the reopening was made on the basis of material. Hence, we are of the considered opi....

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.... amounting to Rs. 33 lacks was found. When the stock register it was not found then how the physical verification of stock can be compared with stock register and difference stock can be worked out. As per the reply of the assessee submitted to the AO available on page 7 of the paper book also which was submitted that the assessee before AO that there is no quantity available and the matter evolution is also not available and it merely states about the difference in the value of the stock difference but in the absence of such data the query cannot be replied. Even after this specific reply of the assessee before the AO, the AO has not given any finding of the assessment order that what is the position of difference in valuation of stock. He....