TMI Blog2013 (10) TMI 1065X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Dr. S. T. M. Pavalan,JJ. For the Petitioner : Shri Vijay Mehta For the Respondent : Shri. P. Daniel ORDER Per Dr. S. T. M. Pavalan, JM:- These Cross appeals filed by the assessee and the Revenue are directed against the orders of the Ld.CIT(A)-40, Mumbai dated 31.08.2010 for the assessment years 2005-06 2006-07. For the sake of convenience all the four appeals are disposed off by this common order. Assessee s appeal for the A.Ys 2005-06 2006-07 2. Ground no. 1 of the assessee s appeals has not been pressed and hence requires no adjudication. 3. Ground no. 2 relates to the issue of not adjudicating on merits by the Ld.CIT(A), the ground of appeal pertaining to action of the AO rejecting the books of account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s given by the Assessing Officer while rejecting the books of account and the submissions of the AR. It is noticed that the deposits in the bank account as well as corresponding withdrawals or payments are made only at the instance of the Custodian. These evidences including the copies of the bank statements are regularly forwarded by the Custodian to the appellant. The sample copies of such letters were placed on record by the AR. Based on these documents which are forwarded by the Custodian, the appellant has prepared the books of account. However, I find that inspite of the rejection of the books of accounts, the Assessing Officer has determined the income of the appellant as per the return of income filed by the appellant. The only di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have heard the rival submissions on this issue and perused the material on record. The perusal of para 6.9 at page no 8 of the assessment order reveals that one of the reasons for not allowing the provisions of interest claimed by the assessee is that the books of accounts produced by the assessee during the assessment proceedings has been held to be unreliable. Shorn off all other unnecessary details, considering the facts and circumstances in toto, we are of the view that it would be appropriate that the issue is set aside to the file of the Ld.CIT(A) to adjudicate afresh on merits in respect of the issue pertaining to the rejection/reliability of the books of accounts produced by the assessee after giving due opportunity of being heard ..... X X X X Extracts X X X X X X X X Extracts X X X X
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