2013 (3) TMI 672

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h ["Tribunal" for short] dated 21st September 2012, Revenue has challenged its order by proposing the following substantial question of law for our consideration :- (A) "Whether in law and in facts, the ITAT is right in deleting the addition to the tune of Rs. 57,04,983/- out of total addition of Rs. 62,20,098/= made by the A.O under the provisions of Sections 143 and 144 of the Act on account of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e two questions. Questions (C) & (D) are argumentative in nature. 2. We have heard learned counsel Shri Desai for the Revenue and also examined the material on record produced by the Revenue. 3. The first question pertains to addition made by the Assessing Officer of Rs. 62,20,098/= and deletion to an extent of Rs. 57,04,983/= made by both CIT (A) and the Tribunal. The Assessing Officer, during ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he circumstances of the case. CIT (A) confirmed the addition to an extent of Rs. 5,15,115/=, however, the amount of Rs. 57,04,983/= was directed to be deleted. When approached before the Tribunal, it concurred with the findings of the CIT (A). Since the Tribunal has chosen to deal with both these issues together, it would be appropriate at this stage to also discuss the second question proposed be....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and therefore, rejected such additions. 5. The Tribunal concurred with CIT (A) on both the issues, by holding thus- "Having heard the learned DR, we have carefully gone through the orders of the authorities below. It is pertinent to note that the A.O in the assessment order added all the things like opening stock, total purchases, total trading and P & L Account, expenses, secured and unsecured....