AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2023 (1) TMI 1527
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....s of Appeals: "1. In law and on the facts and in the circumstances of the Appellant's case, learned CIT(a) has erred in rejecting the relevant ground of appeal raised by appellant before him challenging the validity of the proceedings carried out u/s 147 of the I. T. Act. 2. In law and on the facts and in the circumstances of the Appellant's case, AO has erred in issuing reassessment notice u/s 148 of the Act even though time limit for issuing notice u/s 143(2) of the Act for regular assessment has not expired on the date of issuing such notice. The ld CIT(A) ought to have quashed reassessment order passed by AO on the ground that there was failure on the part of Assessing Officer to take proper proceedings within the time....
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....re made like name, address and documentary evidences. 6. However, the AO observed that the genuineness of the cash sales is not verifiable and books of accounts maintained by the assessee are not showing the correct picture of the business. So, the AO held the submission of the assessee not tenable and rejected the books of accounts of the assessee. Accordingly, the assessment was framed under section 147 of the Act after making an addition of Rs.14,04,789 only to the total income of the assessee. 7. Aggrieved assessee filed an appeal before Ld. CIT(A). The assessee before the ld. CIT-A has contested the validity of assessment under section 147 of the Act. It was submitted that the AO has rejected the books of Accounts of the assessee....
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....ecorded wherein he has admitted that actual sale is not made to Jayesh Steel. During the year under consideration, appellant company has issued bogus sales bills of Rs 93,09,401/- to Jayesh Steel Group, AO had issued notice u/s 148 of the Act on 11/02/2014 for alleged escapement of income. 4.2 On behalf of the appellant, it was argued that reassessment notice has been issued merely on the basis of statement of director recorded during the course of survey proceedings. As statement recorded during the course of survey proceedings u/s 133A has no evidentiary value, such statement cannot be relied upon and consequential reassessment notice is bad in law since inception. The appellant has also contended that as there is no tangible mat....
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....Hon'ble Gujarat High court in the case of Praful Chunilal Patel Vs ACIT [1999] 236 ITR 832. Further, reliance is also placed on decision of Hon'ble Gujarat High Court in the case of Amit Polyprints (P.) Ltd. Vs DCIT [2018] 94 taxmann.com 393. Further, reliance is also placed on decision of Hon'ble Gujarat High Court in the case of Puchpak Bullion (P.) Ltd. Vs DCIT [2017] 85 taxmann.com 84. Hon'ble Gujarat High Court in case of Aaspas Multimedia Ltd. Vs Deputy Commissioner of Income-tax, Circle 1(1) [2017] 83 taxmann.com 82. 4.4 So far as contention of appellant that statement recorded u/s 133A of the Act has no evidentiary value hence reassessment notice cannot be issued based upon such statement, it ....
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....ng aggrieved by the order of the ld. CIT-A, the assessee preferred an appeal before me. 9. At the outset, I may like to mention that neither the concerned Counsel nor any other person on behalf of the assessee appeared before the Tribunal to represent the case or even seek an adjournment at the time of hearing. The case is very old pertaining to assessment year 2012-13 and has already been listed eight times for hearing but none of the time, anybody appeared. The Appellate Tribunal is the appointed machinery under the Act for finally deciding questions of fact in relation to assessment of income-tax. The provisions of the Income Tax Act oblige it to decide an appeal, after giving an opportunity to the parties to put forward their case. T....