2026 (8) TMI 1436

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....learned Senior Advocate appearing with Ms. Vaibhavi K. Parikh, learned advocate appearing for the respondent. 2. By way of present petition, the petitioner herein has prayed for the following reliefs: "(A) YOUR LORDSHIPS may be pleased to issue a writ of certiorari and/or any other appropriate writ, order or direction quashing and setting aside the order dated 16.10.2019 passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in M.A. No. 1/RJT/2018 in ITA No. 491/RJT/2014 for Assessment Year 2009-10 (Annexure - A), and also the subsequent order dated 12.12.2019 passed by the Income Tax Appellate Tribunal in ITA No. 491/RJT/2014 (Annexure-E); (B) Such other and further relief/s as may be deemed just in the fact....

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....dated 29.12.2010 came to be confirmed in so far as the addition made on account of discrepancy in stock is concerned. Subsequently, the Assessing Officer vide order dated 25.03.2013 levied penalty of Rs. 2,47,124/- under Section 271(1)(c) of the Act on the ground that the respondent - assessee had concealed the particulars of income. 4.1 Being aggrieved by the said order, the respondent - assessee preferred an appeal before the CIT (Appeals), which came to be dismissed by order dated 04.07.2014. Being aggrieved by the order dated 04.07.2014 passed by the CIT (Appeals), the respondent - assessee preferred an appeal being ITA No. 491/RJT/2014 before the Appellate Tribunal, which came to be dismissed by order dated 25.07.2017. 4.2 The....

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.... de-novo arguments. It is submitted that on the aforesaid ground alone, the present petition is required to be allowed. 5.2 It is lastly submitted that the impugned orders dated 16.10.2019 and 12.12.2019 are required to be quashed and set aside and the petition is required to be allowed. 6. Mr. Tushar Hemani, learned Senior Advocate appearing with Ms. Vaibhavi K. Parikh, learned advocate appearing for the respondent - assessee, at the outset, submitted that the present petition is preferred after the Appellate Tribunal passed the final order dated 12.12.2019 wherein, the appeal filed by the respondent - assessee was allowed. 6.1 It is submitted that the order of the Appellate Tribunal dated 16.10.2019 recalling its earlier order da....