TaxTMI 
TaxTMI 
2016 (8) TMI 1517
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....e appeal is filed by the Revenue directed against the order of the Ld. Commissioner of Income Tax (Appeals), Rohtak dated 9.3.2015 pertaining to the Assessment Year (A.Y.) 2010-11 on the following grounds. "1. On the facts and in the circumstances of the case, the Ld.CIT(A) has erred in law and in facts in deleting the addition amounting to Rs. 35,00,000/- made by the A.O. following the informat....
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.... of proceedings u/s 147 of the Act and framing of assessment u/s 147/143(3) of the Act without satisfying the statutory provision contained in the Act were without jurisdiction and therefore be quashed as such. 2. That since there was no tangible and, relevant material on record to allege, assume or even have a prima facie opinion that any income of the appellant has escaped assessment the....
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....h on the same ground. Under the circumstances, as the Bench cannot be allowed to collapse, I reject some of these applications filed by the Revenue for adjournments and dispose of the case ex parte qua the Revenue on merits. 3. Heard the Ld.Counsel for the assessee. 4. The Ld.CIT(A) has at para 4 of the order held as follows. "4. I have examined the submissions made by the assessee and the fac....
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....I, therefore, delete the same. The addition of Rs. 51,04,609/- on account of loss is also deleted. This ground of appeal is allowed." 5. I find no infirmity in this finding of the First Appellate Authority. The Assessing Officer has made the addition in question on the premise that, this amount of Rs. 35 lakhs was taken to accommodate book entries in the shape of share capital and whereas the act....