2019 (1) TMI 1339

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....THI CHAUDHURY, JM : This appeal preferred by the assessee emanates from the order of the Ld. CIT(Appeals)-2, Aurangabad dated 05.04.2016 for the assessment year 2010-11 as per following grounds of appeal on record: "1. The Hon'ble CIT(A) has not looked into fact of the case that there was genuine mistake while submission of original return of income and revised return is submitted ....

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....sed the case record and find that for the interest of justice and considering the Income tax laws as welfare legislation, we should condone the delay and hear the appeal on merits. Accordingly, we do so. 4. At the time of hearing neither the assessee nor his Authorized Representative was present. We have recorded the presence of the Ld. DR. 5. That on perusal of the penalty order passed u/s.....

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....nt. From these transactions, he has received income and credited to the P & L Account. However, the same has not been taken in the original computation of income. 6. That from perusal of the penalty order of Assessing Officer as well as the order of Ld. CIT(Appeals), the main contention of the Revenue is that it is because of the questionnaire issued by the Assessing Officer asking the assessee....

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....cause of the fact that Assessing Officer had asked the assessee through questionnaire to file details in the revised return that resulted in providing details of transactions in such return. In absence of this exercise by the Assessing Officer, the assessee would have concealed the income. However, in the penalty order, we find that it is admitted by the Assessing Officer himself that from transac....