TMI Blog2015 (11) TMI 1293X X X X Extracts X X X X X X X X Extracts X X X X ..... his in the preceding para that the reopening was made on the basis of material. Hence, we are of the considered opinion that in the facts of the present case, the orders of the CIT(A) is not sustainable on this issue because when this is accepted by the Ld. CIT(A) that reopening was made on the basis of material indicated by the AO in the remand report reopening of assessment cannot be said to be faulty. - Decided in favour of revenue Unexplained investment on account of sales - CIT(A) deleted the addition - Held that:- The reason made by the AO without disposing of the objection of the assessee and on the basis of assessment order passed by the Trade Tax Authority which was set aside and the subsequent order of the Trade Tax Authority h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law and on facts in deleting the addition of ₹ 24,70.124/- made as unexplained investment on account of sales without appreciating the facts the AO had scrutinized the sales/ purchase account. 3. That the order of the Id. Commissioner of Income Tax (Appeals) being erroneous, unjust and bad in law be vacated and the order of the Assessing Officer be restored. 4. That the appellant craves leave to modify any of the grounds of appeal or take additional ground during the pendency of this appeal. 3. Learned D.R. of the Revenue supported the assessment order whereas the Ld. AR of the assessee supported the order of the Ld. CIT(A). He also submitted a judgment of the Hon ble Delhi High Court rendered in the case of CIT Vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and making assessment and therefore, its conclusion is not based any material in his position and he simply assessed by trade tax authority. After making this disallowance, he held that making an assessment in such a manner is fairly not permissible and is contravention of the judgment of the Hon ble Supreme Court rendered by Ld. AR in his submission. We fail to understand this finding of Ld. CIT(A) after observing this in the preceding para that the reopening was made on the basis of material. Hence, we are of the considered opinion that in the facts of the present case, the orders of the CIT(A) is not sustainable on this issue because when this is accepted by the Ld. CIT(A) that reopening was made on the basis of material indicated by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... worked out. As per the reply of the assessee submitted to the AO available on page 7 of the paper book also which was submitted that the assessee before AO that there is no quantity available and the matter evolution is also not available and it merely states about the difference in the value of the stock difference but in the absence of such data the query cannot be replied. Even after this specific reply of the assessee before the AO, the AO has not given any finding of the assessment order that what is the position of difference in valuation of stock. Hence, it is seen that the reason made by the AO without disposing of the objection of the assessee and on the basis of assessment order passed by the Trade Tax Authority which was set asi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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