TaxTMI 
TaxTMI 
TaxTMI 
2022 (10) TMI 941
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....nged in this appeal is against law, weight of evidence and probabilities of the case. 2. The learned CIT(A) failed to appreciate that a single appeal is maintainable against composite orders or even against separate orders under the same enactment as held by Hon'ble Calcutta High Court and Hon'ble Patna High Court and consequently dismissed the appeal on merits arbitrarily. 3. The learned CIT(A) grossly erred in dismissing the appeal filed by the appellant as not maintainable despite the fact that the appeal was filed as a common appeal against both the orders u/s 154 as well as u/s 143(3) of the IT Act 1961. 4. The learned CIT(A) failed to appreciate that the appellant 17,64,13,323/- objected to the estimation of GP at 0.53Percentage....
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....aments. It filed a return of income for A.Y. 2018-19 through e-filing acknowledgement No. 32769105108 018 on 08.10.2018 declaring total income of Rs.57,23,200/-. The case was selected for scrutiny through computer aided scrutiny selection system. Accordingly, notice u/s 143(2) was issued to the assessee on 22.09.2019 which was duly served upon the assessee through email. 3. The case was selected for Scrutiny through CASS for examining the issue i.e. "High risk transactions (PAN reported in STR)". À perusal of STR on the system showing that the assessee made huge credit of Rs. 312,84,71,392/- including a cash deposit of Rs.66,68,25,000/- during the year. Further, a note for Assessing Officer is also available on the system, which is ....
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....d other relevant information along with documentary evidence. In response, the assessee stated that we maintain Bank Account with ICICI Bank vide A/c No. 018305005629. We also maintain our Account with State Bank of India Patny Secunderabad vide A/c No. 00000062 471145529. We also maintain our Account with State Bank of India Panjagutta Hyderabad vide A/c No. 00000062091816872. The cash realized on sale of pure gold, pure silver etc, is deposited in the above bank accounts. Assessing Officer had only made additions of Rs.3,12,29,580/- to the returned income of the assessee as against the cash deposit of Rs Rs 66,68,25,000/ during the demonetization period. 5. Assessee being aggrieved, received a copy of the assessment order on 28.10.2021, ....
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.... rectification petition and the same was rectified vide order u/s 154 dated 01.11.2021. Against the order u/s 154, the appellant filed an appeal wherein it has Contested the estimation of profit at 0.53%. in this regard, it is to be noted that the estimation of profit at 0.53% was subject matter of assessment proceedings u/s 143(3) r.w.s. 144B and does not pertain to order u/s 154. The order u/s 154 was merely to rectify an arithmetic error arising out of order u/s 143(3/ r.w.s. 144B and thus the issue of estimation of profit is not the subject matter of order u/s 154 and thus there 1s no cause of grievance related to the ground raised in the appeal, arising out of order u/s 154, in view of the same, the ground no.1 pertaining to estimation....
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....he learned DR submitted that under the scheme of Income Tax Act, separate remedies are provided for filing appeals against the order u/s 143(3) as well as the order against 154. It was the contention of the learned DR that a separate part of limitation is also provided under the Act for challenging the order before the learned CIT (A). In the instant case, the assessee had only challenged the order passed by the Assessing Officer u/s 154 as discernible from Form 35 (Col.2) where the date of order has been mentioned as 01.11.2021. It was submitted that the order passed by the learned CIT (A) was correct as he found no discrepancy or error in the order passed by the Assessing Officer u/s 154. It was the contention of the learned DR that the l....
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....ssing Officer". It was further the ground of appeal before the learned CIT (A) that the Assessing Officer cannot make the estimation of profit when the book results are not accepted by the assessee. The substance of the grounds raised before the ld.CIT(A) was only to challenge the order passed by the Assessing Officer u/s 143(3) on 1.6.21, which was subsequently rectified on 1.11.21. For all purposes, the assessee's appeal only challenged the addition of Rs.3,12,29,580/- to the assessee's income. In view of the above, once the assessee has challenged the order of the Assessing Officer in the appellate proceedings, the pedantic hyper-technical approach of the Revenue Officer is required to be rejected as it is an admitted position th....