2021 (12) TMI 1195

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....e 'Act') for the Assessment Year (hereinafter 'AY') 2011-12 as per the following grounds of appeal: "1. Because, the Id. Pr.C.I.T.-13/Kol. erred in law as well as in facts in passing of the impugned order u/s 154(8), rejecting the rectification application of the appellant, on the alleged ground, that the same was not maintainable in law as well as in facts, and his such conclusions are based on his surmises and conjunctures and are grossly unjustified, erroneous and unsustainable, and are contrary to the facts and material on record and provisions of law. 2. Because, the reliance placed by the Id. Pr.C.I.T.-13/Kol. on the ratio of the judgements relied upon by him in his impugned order, are contrary to the facts of the ca....

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....hearing to the assessee. That during such proceeding before the AO, it was noticed that a reconciliation of accounts has to be verified as regards the creditor M/s. Sadbhav Engineering Ltd., however, it was stated by the assessee that they do not have the reconciliation details as regards the said concern. That with relevant enquiries conducted, the AO passed an order dated 29.09.2016 u/s 143(3)/263 of the Act which is the consequential order passed by the AO. The assessee aggrieved with the said order by the AO dated 29.09.2016 filed a rectification application u/s 154 of the Act before the AO on 21.05.2019. The AO thereafter passed order dated 27.05.2019 rejecting the assessee's rectification application by making various observations/fin....

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....mitted within the framework of the Income-tax Act. This view was vehemently supported by the ld. D/R at the time of hearing. 3. Per contra, the ld. Counsel for the assessee submitted that his only prayer is that at the time of proceedings before the AO while he was passing the consequential order u/s 263/143(3) of the Act, the AO had asked for reconciliation statement in respect of M/s. Sadbhav Engineering Ltd. At that point of time the assessee was unable to furnish the details however before us, the ld. Counsel for the assessee submitted that they have acquired certified copy of reconciliation statement of the said M/s. Sadbhav Engineering Ltd. from the Department and that the matter may be restored to the file of the AO so that he may....