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2014 (4) TMI 783 - AT - Income TaxOpportunity of being heard – Validity of best judgement u/s 144 of the Act – Held that:- The assessment was originally completed by invoking the provisions of section 144 of the Act - AO made best judgment assessment and determined the total income at Rs.10,13,700/- against the returned of income of Rs.1,48,200 - the AO disallowed all the loans and other assets without examining the assessee’s books of accounts - the assessee is a professional as interior designer - the assessee furnished various papers and evidences as copies of the returns of income of the assessee for the earlier assessment years 2002-03 to 2006-07and enclosed the relevant copies of the profit & loss account - it is erroneously held by the CIT(A) that the profit and loss account were not enclosed/filed – the copies of the returns have a clear remark under the “enclosures columns”, and evidenced the fact of enclosing the relevant profit & loss account – thus, the order of the CIT(A) are erroneous - it is an erroneous finding of the CIT(A) which requires revisit by authorities – thus, the matter is remitted back to the AO for fresh adjudication – Decided in favor of Assessee.
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