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2016 (9) TMI 1213

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..... ch is signed and verified by a duly authorised person as required under law that the process of appeal is set into motion. However, we find that the CIT(A) after arriving at the aforesaid observation and therein concluding that the appeal in the present case, as required under Section 249 r.w Rule 45 was statutorily required to be signed and verified by the managing director of the assessee company, had thereafter hushed through the matter and lost sight of the fact that at the relevant point of time when the appeal was signed and filed, i.e. as on 05.01.2012 and 06.01.2012, respectively, due to unavailability of the managing director of the assessee company, the same was signed and verified by Sh. C.R. Mulky, who pursuant to the resolu .....

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..... company read as under: 1. In the facts and circumstances of the case and in law, the Commissioner of Income tax (A) erred in dismissing the appeal by overlooking the fact that there was no managing director during the period in which the appeal was signed and filed and also disregarding the resolution and clarification given in this regard. 2. In the facts and circumstances of the case and in law, the Learned Assessing Officer erred in adding ₹ 6,98,043/- out of provision for bad and doubtful debts even though the same is created as per RBI norms. 3. In the facts and circumstances of the case and in law, the Learned Assessing Officer erred in disallowing ₹ 15,32,997/- u/s 36(1)(va) r.w.s. 2(24)(x) in respect of .....

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..... .s. 2(24)(x) ₹ 15,32,997/- 3. Undisclosed receipts ₹ 3,75,887/- 4. Addition on account of Suspense a/c ₹ 60,878/- Total ₹ 26,67,805/- , assessed the total income at ₹ 38,66,29,720/-. 4. The assessee company being aggrieved with the assessment so framed, filed an appeal with the CIT(A)-2 Mumbai as on 06.01.2012, wherein the Memorandum of appeal was signed by one Shri C. R. Mulky, Chief General Manager of the assessee company. That during the course of hearing of the appeal, the CIT(A) being of the view that as t .....

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..... of time when the appeal of the assessee company for the year under consideration was to be filed with the CIT(A)-2, Mumbai, therefore the same was signed and verified by Sh. C.R Mulky who was duly authorized by the assessee company to exercise such powers during the absence of the managing director. The Ld. A.R in order to fortify the aforesaid factual position, therein drew our attention to the extract of the minutes of the board meeting held on 17th October, 2011, as per which Sh. C.R. Mulky was duly authorised to exercise the powers and duties of the Chief executive officer during the period when Sh. Bhaskar K. Amin would be on leave or remain absent till his retirement on 31st January, 2012. The Ld. A.R further took us through an Affid .....

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..... The Ld. D.R thus submitted that the order of the CIT(A) may be sustained and the appeal of the assessee company be dismissed. 6. We have considered the rival submissions of either side and perused the relevant material available on record, including the orders of the authorities below. We find that the genesis of the issue involved in the present appeal revolves around the fact as to whether the memorandum of appeal filed by the assessee company with the CIT(A)-2, Mumbai, had been signed and verified by a duly authorised person or not. We are in agreement with the observation of the CIT(A) that there cannot be any escape as regards carrying out compliance of the statutory requirement of signing and verification of the memorandum of appe .....

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..... the same. We thus in light of the aforesaid facts restore the appeal to the file of the CIT(A) with a direction that the same be admitted and disposed of on merits after affording sufficient opportunity of being heard to the assessee company. Thus the Ground of appeal No. 1 raised by the assessee company is allowed. That as we have restored the appeal to the file of the CIT(A) for fresh adjudication, with a specific direction to dispose of the same on merits, therefore we do not deem it fit for adverting to Grounds of appeal No. 2 to 7 wherein the assessee company had assailed before us the additions made by the A.O on merits. 7. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the ope .....

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