2022 (8) TMI 289

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....ssment year 2006-07. The impugned order was originated from the order of Dy. Commissioner of Income Tax, Circle-I Amritsar (in brevity A.O) order passed u/s. 14 of the Act order dated 23.03.2014. 2. Tersely we advert the fact of the case. The assessment was initiated u/s. 148 of the Act as information received from the department of Commissioner of customs Preventive, New Delhi, for cheating of Govt., exchequer by misusing duty entitlement pass book scheme/draw back and focus product scheme. The assessment was completed after rejecting books of account, the ld. AO added back the net profit @ 2.7% on assessee turnover amount to Rs. 8,25,34,222/- which is calculated Rs. 22,69,690/-. Considering the principal of natural justice Rs. 3,00,000....

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....export sale, so there is no question of embezzlement of duty Draw Back. The Revenue has re-opened and assessed from A.Y. 2006-07 to 2012-13. None of the order, the export sale was found or cheating export duty was made. In this respect, the ld. Counsel filed a synopsis and list is attached with this synopsis. Also reopening was made 2007-08 but the ld. AO drop the proceedings as there was no export sale vide order dated 16.03.2011 passed u/s. 143(3)/147 by the ld. Income-tax Officer, Ward 1(2), Amritsar. He also argued for Denovo as the matter was in ITAT No. 335/ASR/2016, the Bench has not found any export sale or any cheating the duty Draw Back and accordingly the order passed. 4.1. The ld. Counsel draw our attention in letter of the D....