9911796707
TMI Blog2021 (6) TMI 442X X X X Extracts X X X X X X X X Extracts X X X X ..... 2202/H/2017 however, the cruxes of the issues are as follows: (i) The Ld. CIT (A) has erred in deleting the addition made by the Ld. AO amounting to Rs. 3,58,10,000/- U/s. 68 of the Act relying on the additional evidence filed by the assessee without calling for remand report from the Ld. AO. (ii) The Ld. CIT (A) has erred in deleting the addition made by the Ld. AO for Rs. 34,66,340/- who had estimated the income of the assessee which was agreed by the assessee at the time of assessment proceedings. 3. The brief facts of the case are that the assessee is a private Limited Company engaged in the business of trading in Auto Parts and Iron filed its return of income for AY 2013-14 on 30/09/2013 declaring loss. Subsequently, the case was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore the Ld. AO and hence it was not necessary for the Ld. CIT (A) to obtain remand report as there was no fresh evidence filed before the ld. CIT (A). It was therefore pleaded that the appeal of the Revenue may be dismissed. 7. We have heard the rival submissions and carefully perused the materials available on record. Neither by reading the order of the Ld. AO nor by examining the paper book filed by the assessee, we find any evidence to establish that the assessee has filed the confirmation statements and other requisite documents before the Ld. AO which was filed before the Ld. CIT (A). Moreover it is evident from the paper-book filed before us that the income tax return of the creditors were not filed before the Ld.AO which was filed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... find that nether the Ld. AO nor the Ld. CIT (A) has come out with a speaking order on the issue. Therefore, in the interest of justice, this issue is also remitted back to the file of the Ld. AO for de-novo consideration. 11. The other appeal is in ITA No. 210/H/2018 is with respect to levy of penalty U/s. 271(1)(c) of the Act which was deleted by the Ld.CIT(A) with respect to the above mentioned additions made by the Ld.AO. Since, we have remitted back the quantum appeal back to the file of the Ld. AO for de-novo consideration, We find it appropriate to remit the penalty appeal also back to the file of the Ld. AO in order to pass appropriate order in accordance with law and merit based on the assessment order passed in lieu of the appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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