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TMI Blog2019 (2) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... in not appreciating the facts and circumstances of the case and ignored the basics, i.e., 1. That the order u/s 144 is null and void. 2. That his predecessor had thoroughly examined the books of accounts, including purchase and sales, and expenses and after satisfaction the remand report was called within limited point for reason of ex-parte assessment. 3. That the findings of the Ld. Commissioner of Income Tax Appeal is against the facts." 2. The facts in brief are that, assessee is engaged in the business of wholesale trading of metal and alloys. The return of income was filed on 30.09.2008, declaring income of Rs. 1,10,000/-. The assessing officer from the balance-sheet and Profit and Loss Account as on 31.3. 2018, noted that acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore ld. CIT(A) also in response to various queries raised by him, the assessee has given point-wise reply and submitted that, assessee is purchasing scrap of metals and converting them into bar/ingot for which assessee was though not maintaining any manufacturing account but entire quantitative details was filed before him. It was further submitted that business started during the previous year and same was stopped as on 23.03.2008 and entire stock was sold and there is no business in the subsequent year as assessee has left Delhi with his son to settle at Ranchi. As specifically required by ld. CIT(A), assessee had filed confirmation from M/s. Jai Ambey Alloys (P) Ltd. along with bank statement. Regarding cash creditors also assessee poi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng VAT also, assessee submitted the proof of payment of VAT. 4. Ld. CIT(A) without even looking into the facts and material placed before him and also the copy of remand report submitted by the AO has dismissed the assessee's appeal in a very flimsy manner after observing and holding as under: "The assessee filed Balance Sheet and P & L a/c as on 31.3.08 which were not audited. Though the appellant was required by law to get its accounts audited u/s 44AB as the turnover of the appellant was Rs. 78,62,773/- i.e. above the limit Prescribed 44AB of the IT Act. The appellant has not offered any explanation for the same. The appellant has only contended that the action of the AO was ad hoc. The appellant has furnished some explanations, b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition could have been made. 5. On the other hand, learned DR strongly relied upon the order of the assessing officer and ld. CIT(A). 6. I have considered the rival submissions and also perused the relevant finding given in the impugned order as well as material referred to at the time of hearing. The entire case of the Assessing Officer and the ld. CIT(A) is that no audited account or audit report has been furnished. From the perusal of the letter filed before the Assessing Officer, I find that assessee has filed the audit report in response to a notice issued by the Assessing Officer and said audit report is also appearing at pages 11 to 16 of the paper book, wherein auditors have duly certified the books of account and the trading res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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