TMI Blog2014 (4) TMI 783X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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. - ITA No. 286/Mum/2013 - - - Dated:- 26-3-2014 - Shri D. Karunakara Rao, AM And Shri Amit Shukla, JM,JJ. For the Petitioner : Shri Sameer Dalal For the Respondent : Shri Ashok Suri ORDER Per D. Karunakara Rao, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt of the Id. CIT (A) was called for. WITHOUT FURTHER PREJUDICETO TUE ABOVE: 3.1 The Id. CIT (A) erred in partly confirming the addition made by the A.O. to the extent of Rs 5,85,191/-, alleging that the Appellant was not able to explain the source of investment in various assets mentioned in the balance sheet filed along with the return of income. 3.2. While doing so, the CIT (A) failed to appreciate that the source of investment in the assets were duly explained to him during the Appellate proceedings. 3.3 While sustaining the addition, the Id. CIT (A) erred in: (i) taking into account irrelevant and impermissible considerations while ignoring relevant considerations; and (ii) totally ignoring and bypassing the cogent ev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved by the said best judgment assessment, the assessee filed an appeal before the CIT(A). In the first appellate proceedings, also there was some problem in matters of making appearance by the assessee before the CIT (A). However, eventually, the assessee represented before the CIT (A) and 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. However, it is erroneously held by the CIT(A) that the profit and loss account were not enclosed/filed. In this regard, the ld. Counsel brought our attention to the said copies of the returns where there is a clear remark under the enclosures columns , a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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