2010 (8) TMI 1079

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er) Both the appeals filed by the assessee are directed against separate orders dated 18.3.2008 of ld CIT (A)-I, Mumbai for the assessment years 1999-2000 and 2000- 2001, respectively. 2. Facts in brief are that for the assessment year 1999-2000, in the assessment order, the Assessing Officer has observed that an information was received that M/s. Precision Shears & Knives Pvt Ltd., an assessee ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f exporters, by over invoicing of export consignment and taking benefit under DEPT/duty draw back scheme. In assessee's case, Panchanama was drawn on 24.8.2000 at the office premises of the assesse. The AO determined the total income at ₹ 1,01,94,360/-. The CIT (A) dismissed the assessee's appeal. 3. For the assessment year 2000-2001, under the similar facts, the AO determined the total inc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eleased to it and hence one more opportunity be granted for leading evidence in support of the claims made by the assessee. As the assessment was made u/s.144 in the circumstances enumerated above, we are of the considered opinion it will be in the interest of justice if the impugned order is set aside and the matter is restored to the file of AO. We order accordingly and direct the AO to frame th....