TaxTMI 
TaxTMI 
2023 (3) TMI 1002
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....total income since the assessing officer was himself satisfied with the availability of cash in the regular books of accounts of the appellant prior to deposit in the bank account. 3. That on the facts and in the circumstances of the case and in law, the Ld Assessing Officer erred in restricting the claim of depreciation to the extent of Rs. 2,05,69,740/- only in place of depreciation as allowable under section 32 of the Act of Rs. 2,62,09,454/- 4. The appellant reserves its right to add, alter and modify the grounds of appeal as taken by it" Application of the assessee for condonation of delay in the Tribunal and for admission of new/additional grounds of appeal dated 18.11.2022: 3. The ld. Representative of the assessee (ld. AR), drawing our attention towards the affidavit of Dr. Anil Bandi sworn on 23.05.2019, submitted that the assessee company had filed its return of income for AY 2013-14 on 30.09.2013 declaring the total income of Rs.5,83,25,000/- on account of additional income as offered during the course of survey even though cash as available in the books of account duly justified the source of amount as advanced and, therefore, no corresponding entry was passed....
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....return of income on 30.03.2013 declaring the taxable income at Rs.5,83,25,000/- and the case was selected for scrutiny u/s 143(3) of the Act. The ld. DR further submitted that as per concluding para 8 of the said assessment order, it is clear that the AO accepted the return of income and made two additions only viz., addition of Rs.6,22,252/- u/s 36(1)(iii) of the Act and Rs.7,00,852/- u/s 36(1)(va) r.w.s 43B of the Act. The ld. Sr. DR further drew our attention towards Form No.35 filed by the assessee before the ld.CIT(A) dated 31.03.2016 and submitted that the assessee has raised the sole ground challenging the addition made by the AO of Rs.7,00,852/- and no other ground has been agitated or raised before the ld.CIT(A). Further drawing our attention towards the impugned first appellate order of the ld.CIT(A)-1, Indore, dated 24.09.2018, the ld. Sr. DR submitted that the sole ground of the assessee challenging the addition of Rs.7,00,852/- was allowed by the ld.CIT(A) deleting the addition and no grievance of the assessee was left to be agitated before the ITAT. Further drawing our attention towards new/additional grounds of the assessee placed in the revised form No.36 dated 15.1....
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....ere not agitated before the ld. CIT(A), but, subsequently as advised by the tax consultant thus the same are being raised first time before the Tribunal. Therefore, the same may kindly be admitted for adjudication and the matter be restored to the file of the AO for examination and verification. 10. Now, we proceed to adjudicate the issue of condonation of delay of 156 days in filing the present appeal by the assessee. In this regard, in para 2.6 of the application/affidavit it has been mentioned as under:- "2.6. However, during the course of appeal as filed against the order passed under section 153A r.w.s. 143(3) of the Act, it was explained that additional income to the tune of Rs. 5,83,25,000/- was offered for tax in the return of total income for the Assessment Year 2013-14 even though no corresponding entry for the same was passed in the books of accounts of the company since the source of amount as advanced was duly explained from the cash as available in the regular books of accounts of the company. Hence, it was advised to file an appeal before the Hon'ble Bench at the earliest without any further delay. It was for this reason that the present appeal is being filed late....
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..... In the case of National Thermal Power Corporation Ltd. (supra), the Hon'ble Supreme Court held that: 'the power of the Tribunal in dealing with appeals is, thus, expressed in the widest possible terms. The purpose of assessment proceedings before taxing authorities is to assess correctly tax liability of as assessee in accordance with the law........ Then, the additional ground which goes to the root of the matter can be adjudicated without any extraneous material on the basis of the material already available on record and the same may be admitted for adjudication as additional ground.' But, in the present case, the assessee is seeking admission of additional ground and restoration of the same to the file of the AO for examination, verification and adjudication. Therefore, as per the prayer of the assessee itself, these grounds cannot be adjudicated by the Tribunal on the basis of the material available on record as per the prayer of the assessee itself. At the same time, we may also point out that the ground No.4 of the assessee has been added by way of filing revised form No.36 on 15.11.2022 and this ground was not placed in the original Form No.36 dated 21.05.2019. In our hum....