Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (3) TMI 1109 - ITAT HYDERABADUndisclosed income - Discrepancies between the income reported by the assessee and as noticed by the AO in Form No.26-AS - HELD THAT:- CIT (A) has reproduced the submissions of the assessee as held that the assessee has not submitted any further information besides what has been submitted before the AO and that the appeal with regard to the claim of conversion charges were not submitted and no fresh evidence or information was submitted by the assessee inspite of several opportunities. All the details have been given by the assessee. The invoices and also the ledger a/c of the parties are submitted before us and the certificate is also given that these documents have been filed before the AO and the CIT (A) except for the information from M/s. Alembic Pharmaceuticals Ltd and M/s. Ajanta Pharma Ltd before the CIT (A). We find that the CIT (A) has failed to consider the same nor has she called for a remand report from the AO for the evidence filed by the assessee. In view of the same, we deem it fit and proper to remand the Grounds 2 to 6 to the file of the AO for verification and reconsideration in accordance with law. Therefore, Grounds 2 to 6 are allowed for statistical purposes. Assessee had submitted detailed submissions before the CIT (A) but without verifying the same, the CIT (A) has confirmed the order of the AO. The assessee has pleaded that the income from trading unit alone may be disallowed u/s 80IC but the CIT (A) has confirmed the assessment order on the ground that the assessee has not submitted any proof that the expenses are not excessive and also held that the assessee is in trading business and not manufacturing business. We find that in the paper book filed before the Tribunal in pages 49 to 55 are the account details of the H.O Traders. CIT (A) has not considered this evidence also nor called for a remand report also. Therefore, we deem it fit and proper to remand this issue also to the file of the AO for denovo consideration in accordance with law. Assessee’s appeal is treated as allowed for statistical purposes.
|