TMI Blog2012 (12) TMI 754X X X X Extracts X X X X X X X X Extracts X X X X ..... th the years allowed for statistical purposes. - ITA No.983 & 984/Mds./2011 - - - Dated:- 4-6-2012 - SHRI ABRAHAM P.GEORGE AND SHRI V.DURGA RAO, JJ. Appellant by : Shri T.Banusekar C.A. Respondent by : Shri K.E.B.Rengarajan Jr. Standing Counsel O R D E R PER ABRAHAM P.GEORGE ACCOUNTANT MEMBER: These are appeals filed by the assessee for the Assessment Years 2006-07 2007-08 which are directed against an order dated 24.02.11 of Commissioner of Income 2. These appeals have been filed with a delay of 34 days for which condonation petition has been filed by the assessee. Reasons shown being satisfactory, delay is condoned and appeals are admitted. 3. Grounds taken for the years are common and read as under:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 143(3) of the Act were completed on 23.12.2008 30.12.2009 respectively. Aggrieved by certain additions, assessee moved in appeal before the Commissioner of Income Tax(Appeals) for both the years. While the said appeal was pending before the Commissioner of Income Tax(Appeals), proceedings under Section.263 were initiated by Commissioner of Income Tax- II,Tiruchirapalli for both the years and both the assessments were set aside through orders dated 15.02.2011 for a reason that Assessing Officer had not examined certain aspects and issues relating to the assessments. Appeals of the assessee against original assessment under Section.143(3) of the Act were dismissed by the Commissioner of Income Tax(Appeals) on 24.02.2011, since according t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce treated as capital expenditure by Assessing Officer 6,90,000.00 Legal and professional charges Disallowance of excess claim for which no reconciliation was filed. 1,72,500.00 6.2 For Assessment Year 2007-08, the issues on which assessee was on appeal before the Commissioner of Income Tax(Appeals) were as under:- Amount involved Disallowance of claim of depreciation on Skoda and BMW 14,30,001.00 Disallowance under Section.14A of investment in shares of Breeze Hotels 1,09,14,889.00 Addition of demed interest from the investments made in M/s.Jennay Hotels 65,69,192.00 Addition of notional interest on advances made to outsiders 88,57 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... argeable to tax on sale of the shares and debentures.. 2. Investment made in shares of Breeze Hotels Ltd. Assessing Officer not looked into the sources of investment, claim of deduction in respect of such investment in order to check the applicability of the provisions of Sec 68/14A. 6.5 Thus the appeals filed by the assessee for both the years were on substantially different issues, vis- -vis the issues for which proceedings under Section 263 were initiated and completed by the Commissioner of Income Tax. We are therefore, of the opinion that the Commissioner of Income Tax(Appeals) was obliged under law to deal with the grounds taken by assessee for the respective Assessment Years, since orders under Section.263 did not cover these asp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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