2015 (9) TMI 1748

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....Chandrekar, Sr. D.R. For the Respondent  Sh. Akhilesh Kumar, Adv. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA 2043/Del/2010 and Both these appeals are filed by the assessee. ITA 2043/Del/2010 is directed against the order passed by the Ld.CIT, Meerut u/s 263 of the Income Tax Act, 1961 (the Act) dt. 30.3.2010, to the extent recalled by the Tribunal by way of its order dt. 2....

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.... "4. Because the Ld.CIT is not right to direct the AO to pass fresh assessment order which according to her is erroneous in so far as prejudicial to interest of revenue in respect of old advances of A.Y. 2002-03 and old sundry creditors of A.Y. 2001-02 and to consider their taxability in A.Y. 2005-06." 2.3. The Ld. Counsel for the assessee Mr. Akhilesh Kumar, Advocate, submitted that the ....

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....the submissions of the Ld. Sr. D.R. were upheld, for the reason that the addition in question, is not made u/s 68 of the Act. Thus the year of receipt of credit and entry into the books of accounts is of no consequence. No other argument has been advanced before us on this issue. Thus this ground of the assessee is dismissed. 4. In ITA 3230/Del/2012, the Ld. Counsel for the assessee submitted t....