TaxTMI 
TaxTMI 
2023 (3) TMI 1347
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....been accepted. 3. That the Commissioner of Income Tax (Appeals) should have accepted the submission and evidence submitted before CIT(A) during the course of hearing. 4. That the Assessing Officer as well as the Commissioner of Income Tax (Appeals) committed the legal mistake in respect of making/ sustain the addition when the proof of payment of consideration was made in the immediately preceding year. Hence, the addition made and sustain during the year is not in accordance with the law. 5. That the entire amount was explained but rejected without assigning any reason. 6. That the reopening of assessment u/s 147/148 of IT Act is illegal and against the law as such the assessment completed is illegal. 7. That the charging of interest is illegal and against the law." 2. At the outset, Ld. Counsel for the assessee submitted that in this case, this Tribunal was pleased to recall its order dated 07.09.2021 to decide Ground No.2 raised by the assessee. Ground No.2 of the assessee's appeal is reads as under:- 2. "That the Order is illegal in view of the fact that the Commissioner of income Tax (Appeals) as well as the Assessing Au....
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....f the production in a spinning mill. On the above observations, the Hon'ble High Court has allowed the appeal of the assessee. 6.2. In case of CIT vs. Maharaja Shree Umaid Mills Ltd. (1991) 192 ITR 565 (Raj), the Hon'ble Rajasthan High Court has held that the Tribunal was justified in holding that since books of accounts had not been rejected, the mere fact that there had been a fall in the g.p. rate would not lead to the inference that the expenditure had been inflated. 6.3. In case of CIT vs. Padamchand Ram Gopal (1970) 76 ITR 719 (SC), the Hon'ble Supreme Court has held that no addition is justified if the books of accounts are not rejected. 6.4. We have also seen the other case law relied upon by the learned authorised representative and we find that the book results cannot be ignored if the books of accounts are not rejected or any defect were not pointed out by the AO. Therefore, we do not see any infirmity in the order of the CIT (A). On the reasons given by CIT (A) and on the reasons given here by us, the order of the CIT(A) is confirmed here by us. The above order is applicable in toto . The order is order of the co-....
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....he Commissioner of Income Tax summary partly allowed the appeal; the appeal has been decided by adopting the mode of cut and paste and even ignoring the binding nature judgment of even Supreme Court. it will be worthwhile to submit and draw your attention that the assessee categorically stated in the statement recorded before the A.D.I. that he is maintaining books of account and also produce the balance sheet thereof before the ADI and CIT(A). The statement of assessee is at page 14 to 16 and the version in respect of maintenance of books is at page 20 of the said statement. The books of accounts are being maintained and the assessing officer mention that assessee is not maintaining the books of account and the Commissioner of Income Tax follow the same reason best known to him. From the perusal of the balance sheet you will observe that amount of Rs. 2,00,000/- as advance in the immediately preceding year. The income tax officer fails to accept the same when balance sheet was there. The copies of balance sheets for the year ending on 31st March 2011, 31st March 2012 and 31st March 2013 are being attached in paper book at page No 14 to 16. As far as the savings is concerned the AS....
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....ains the source therefore even otherwise the entire amount is explained. You are therefore requested that the order may kindly be declared as illegal. Thanking you." 4. On the other hand, Ld. JCIT DR opposed these submissions and supported the orders of the authorities below. 5. We have heard Ld. Authorized Representatives of the parties and perused the material available on record and gone through the orders of the authorities below. We find that Ld. CIT(A) in para 6.3 of the impugned order has decided the issue as under:- 6.3. "I have carefully consider the observation made by the Assessing Officer in the assessment order, submission and additional evidences filed by the A/R of the appellant, remand report of the Assessing Officer and rejoinder filed by the A/R of the appellant. I find that the Assessing officer made the addition of Rs.4,00,000/- making detail observation that the appellant produce the Jamabandi and Girdawari but no bills of sale of agricultural products are produced. In support to his claim of source of investment the assessee produced a page giving head payment, income, loan and saving account on a white paper and apart from thi....