9911796707
TMI Blog2019 (5) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... Brief facts of the case are that in the Asstt.Year 2005-06 an assessment order was passed under section 143(3) r.w.s. 147 on 19.3.2013 whereby an addition of Rs. 35,82,131/- were made to the total income of the assessee. This addition was made on account of unexplained loans and advanced received from Shantisuri Securities P.Ltd. When this dispute travelled to the CIT(A), then vide order dated 16.1.2015, the ld.CIT(A) has observed that out of the above addition, Rs. 26.44 lakhs was received in the F.Y.2003-04 and cannot be added during the Asstt.Year 2005-06. The following finding of the ld.CIT(A) in this regard is worth to note. It reads as under: page no.13 "...... However, the addition is directed to be restricted to the amount of R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... O, SK Ward-3/91/13-14 dated 16/01/2015 vide para No. 4.3, the amount of closing balance of Rs. 26,44,000/- received by assessee for F.Y. 2003-04 is to be added in A. Y. 2004-05 and this office was given appeal effect order of retrospective effect to the order of Hon'ble CIT(A)'s order for A. Y. 2005-06. 3. In this regard, your rectification application u/s. 154 of the 1. T. Act is hereby rejected and you are dissatisfied to this appeal effect order for A. Y. 2004-05 dated 09/03/2015, you may be preferred an appeal before Hon'ble CIT(A)-2. Ahmedabad. 4. Further, you are requested to pay the outstanding art-ear demand of Rs. 15,21,472/-for A.'Y. 2004-05 within 15 days of the receipt of this letter." 6. Dissatisfied with this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plication and proceeded to dispose of in accordance with law, then, he would have vacated his order dated 9.3.2015 passed in the Asstt.Year 2004-05. There is no debatable issue in that, rather his order dated 9.3.2015 was patently illegal. The AO ought to have entertained the application of the assessee, and ought to have rectified his order dated 9.3.2015. Therefore, in view of the above discussion, we allow this appeal and set aside both the impugned orders i.e. order dated 1.9.2016 passed by the ld.CIT(A) and dated 14.8.2015 passed by the AO. We allow the application of the assessee and direct the AO to rectify his order dated 9.3.2015 by deleting the amount of Rs. 26.44 lakhs from the taxable income of the assessee in the Asstt.Year 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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