2010 (9) TMI 1121

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....ws- "1..... 2.The ld Assessing Officer as well as the learned  CIT(A) are in error both in law and on facts by reason of their failure to follow the mandatory statutory provisions of section 142(3) of the Income-tax Act, 1961, while passing the relevant assessment order and appellate order respectively. 3.The learned  Assessing Officer as well as the ld  CIT(A) are in error both in law and on facts, by reason of their relying solely on the impounded material while denying the exemption claimed u/s.11 of the Act without any regard whatsoever to regular books of account maintained on the facts and in the circumstances of the case. 4.The ld. CIT(A) erred in law and on facts  in holding th....

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....ear 2003-04 in ITA No.1138/Hyd/2006.  As against this, though the learned  counsel for the assessee could not controvert the submission of the learned Departmental Representative, he invited our attention to para-29 of the order of this Tribunal dated 30th January, 2009 in Misc. Application No.43/Hyd/2008 (in ITA No.1138/Hyd/2006).  With regard to grounds No.4 and 5 of the assessee in the present appeal, he also submitted that the additions have been made in the assessment based merely on the statement of an employee, with regard to which no opportunity of cross-examination has been allowed to the assessee.   He placed reliance on the decision of Chennai Bench of the Tribunal in the case of ITO(OSD) V/s. Sicgil Indi....