TMI Blog2020 (12) TMI 553X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Tribunal and set aside the order of the CIT(A) and restored the issue to the file of the AO for decision afresh on the issue after giving the assessee a reasonable opportunity of being heard - second round of appeal HELD THAT:- Admittedly the directions given by the Tribunal have not been complied with by the AO while framing the impugned assessment in this case. Though the ld. CIT(A) tried to comply with the directions by writing letters to the concerned officers related to the investigation and assessment framed in the case of M/s. Tambi Exports, however, no record was furnished by them in this respect to the ld. CIT(A). Even the Assessing Officer also failed to give his comments on the submissions/objections submitted by the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... both in law and facts in sustaining addition of ₹ 4,99,295/- on account of credit in bank account of the appellant with Punjab National Bank; 2. That while sustaining addition of ₹ 4,99,295/- the Ld. CIT(A) erroneously held that the Ld. Assessing Officer complied with the directions of Hon'ble IT AT after restoration the case back to his file. 3. That while sustaining the addition of ₹ 4,99,295/- the Ld. CIT(A) did not appreciate that credit of ₹ 4,99,295/- as had had emanated from capital gains (Long Term) on account of sale of diamond jewellery stood accepted in the hands of the buyer/the appellant finally for the Assessment Year 1998-99. 4. That the appellant reserves the right to alter or take ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not genuine. The Tribunal further observed that there was no indication as to the manner in which such investigations have been considered in the assessment of M/s. Tambi Exports by the concerned AO. The Tribunal further observed that it would be in the fitness of things that such evidence be brought on record by the Revenue and the assessee be confronted on the same. The Tribunal, accordingly, set aside the order of the CIT(A) and restored the issue to the file of the AO for decision afresh on the issue after giving the assessee a reasonable opportunity of being heard. In view of the above directions of the Tribunal, the fresh assessment was made by the AO vide order dated 31.12.2009 reiterating the earlier assessment order and reaffirmi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. 5. I have heard the rival contentions. Admittedly the directions given by the Tribunal have not been complied with by the AO while framing the impugned assessment in this case. Though the ld. CIT(A) tried to comply with the directions by writing letters to the concerned officers related to the investigation and assessment framed in the case of M/s. Tambi Exports, however, no record was furnished by them in this respect to the ld. CIT(A). Even the Assessing Officer also failed to give his comments on the submissions/objections submitted by the assessee before the CIT(A) stating that the record was very old and was not traceable. The Tribunal while setting aside the matter to the AO has given a categorical observation that the report o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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