TaxTMI 
TaxTMI 
2021 (10) TMI 1099
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..../s. 143(3)/254 of the Act dated 31/07/2014 are bad in law and on facts of the case, for want of jurisdiction and various other reasons and hence the same kindly be deleted. 2.1 The ld. CIT(A) further erred in law as well as on the facts of the case in not admitting & considering the evidences submitting before him alleging that there did not exist any circumstance as prescribed u/r. 46A. The evidences so produced/furnished but not admitted being contrary to the provisions of law and facts, the additional evidences so furnished kindly be admitted, considered and the addition be deleted. Alternatively, the ld. CIT(A) kindly be directed to consider the same. 2.2 Rs. 14,82,450/-: The ld. CIT(A) erred in law as well as on the facts of the ....
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....the matter before the ld. CIT(A), however, the ld. CIT(A) also sustained the additions made by the A.O. 5. Aggrieved by the order of the ld. CIT(A), the assessee preferred appeal before the Tribunal being ITA No. 214/JP/2013 and after hearing the parties, the Tribunal vide order dated 21/08/2013 had restored the matter back to the file of the A.O. 6. On the set aside proceedings, the A.O. again sustained the additions vide order dated 31/07/2014 passed u/s. 143(3) r.w.s. 254 of the Act. 7. Aggrieved by the order of the A.O. u/s. 143(3) r.w.s. 254 of the Act, the assessee preferred appeal before the ld. CIT(A) and the ld. CIT(A) again dismissed the appeal of the assessee and upheld the additions. Thereafter, the assessee again approached ....
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....unds. In this regard, we have meticulously gone through all the orders placed on record by the parties and from the details of the case, we noticed that initially the matter in question was restored back by the Coordinate Bench of the ITAT in ITA No. 214/JP/2013 to the file of A.O. for fresh decision by holding that the authorities below ought to have applied their mind on the facts of the case as non-consideration of the transaction being transactions in mutual funds ex-facie depicts the non-application of mind. The A.O. was directed to verify the claim of the assessee and decide the issue afresh by allowing an opportunity of being heard to the assessee. The ld. AR submitted that the assessee had filed details of redemption of mutual funds....
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....from the mutual funds only whereas on the contrary, the entire matter of Rs. 14.57 lacs was restored back for a fresh decision which comprises of the income from sale of shares and also redemption of mutual funds. The lower authorities completely ignored the specific ground taken by the assessee before the ITAT and had confined its findings only to the redemption of mutual funds and that too was decided against the assessee on the ground that no evidence of investment in the mutual fund was furnished by the assessee. Whereas on the contrary, the ld. AR strongly relied upon his submissions made before the lower authorities and drawn our attention to the fact that the assessee had already placed on record the various evidences which are drawn....