2016 (10) TMI 1189

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.... PER SHRI VIKRAM SINGH YADAV, A.M. This Miscellaneous Application has been filed by the Revenue against the order passed by the Co-ordinate Bench in ITA No. 369/JP/14 dated 8.10.2015. In its application, the Revenue has submitted that the Tribunal has set aside the assessment to decide the issue of estimation of income on account of bogus/unverifiable purchases to the file of the AO for fres....

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...., therefore an assessment cannot be kept in abeyance till such order of the Hon'ble High Court. Further, it was submitted that it is mentioned in the Tribunal order that Departmental Representative had stated that the issue in question may be decided as per the judgement of Hon'ble ITAT dated 22.10.2914 rendered in the case of Anuj Kumar Varshney & others vs. ITO. This observation is factually not....

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.... Kumar Varshney & others (supra) is delivered, after giving adequate opportunity of being heard to the assessee. Thus, the appeal of the assessee is allowed for statistical purposes." 4. The ld DR took us through the relevant provisions of Section 153(2A) of the Act which states as under: "(2A) Notwithstanding anything contained in sub-sections(1), (1A), (1B) and (2) in relation to the....

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....s of accounts on account of unverified purchases and estimation of appropriate gross profit rate thereon. The AO had applied 25% gross profit rate on unverified purchases which has been confirmed by the ld. CIT(A) which was the subject matter of appeal before the Coordinate Bench. The Coordinate Bench vide its order dated 8.10.2015 has set aside the issue relating to estimation of profits and rest....