9911796707
TMI Blog2021 (6) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... as law on the subject, the learned Commissioner of Income Tax (Appeals) has erred in not adjudicating grounds of appeal. He ought to have passed the speaking order after giving the reason for his decision. 2. On the facts and circumstances of the case as well as law on the subject, the learned assessing officer has erred in making the addition of Rs. 1,29,35,385/- on account of income from undisclosed sources on protective basis. 3. The order passed by the CIT(A) may please be set aside and the matter may please be restored to the file of CIT(A) for fresh decision and/or the addition made by the assessing officer may please be deleted. 2. Perusal of record shows that the appeal is filed after 64 days of prescribed period of limitation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... succeed. 3. On the other hand, the ld. DR for the revenue not seriously opposed the contention of ld. AR of assessee. 4. We have considered the contention of both the parties. We have also gone through the contents of application filed by assessee for condoning the delay in filing appeal, which is supported by affidavit of assessee. Considering the fact that initially assessee was advised not to file appeal as addition was made on protective basis. Non-filing appeal was based on advise of consultant. Considering the contents of application and the submission made by ld. AR of the assessee, the delay of 64 days in filing appeal is condoned. 5. On merits of the case the ld. AR of the assessee submits that the AO made protective addition of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax has been paid by M/s Saheli Developers then the protective addition may be deleted at the hand of assessee. 8. We have considered the rival submissions of both the parties and have gone through the orders of lower authorities. There is no dispute that AO made addition of Rs. 1.29 crore on protective basis at the hand of assessee. The substantive addition is made against the M/s Saheli Developers in assessment order dated 23.03.2015 passed by ITO Wart-2(3)(6), Surat. The learned AR for the assessee has also filed the copy of the assessment order in case of Saheli Developer having PAN ABLFS 4624 G. further, we find that Saheli Developer filed application under VSV-20 for settlement of dispute of tax and the Designated Authority concern h ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
