2021 (8) TMI 460

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..... passed the appellate order without proper application of mind and failed to give proper opportunity of hearing which is against the Provision of Law and beyond his competent jurisdiction. 2. For that the Ld. CIT(A) has accepted the additional ground of appeal by following the judgement of Hon'ble Supreme Court in the case of Jute Corporation of India, 53 Taxman P-85, but ultimately dismissed the ground on a misunderstand of law, require a fresh hearing for the sake of natural justice, but the notice u/s. 143(2) of the I.T. Act was not served within statutory time as such the assessment. 3. For that the A.O. acted vindictively by making disallowances of business expenses without rejecting the method of accounting 'Mercantile' .....

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..... tion. 5. Ground no. 2:, The Ld. Counsel for the assessee has submitted that he does not press ground no. 2. Ground no. 2 is, therefore, dismissed as not pressed. Ground no. 3 6. Vide ground no. 3 the assessee has contested the action of the lower authorities in making disallowance of 20% of the Misc. & other expenses. The issue has been discussed by the Learned Assessing Officer (in short, the Ld. AO) at page-2 of the assessment order. A perusal of the relevant part of the assessment order reveals that the Ld. AO noted the assessee had debited various expenses under various heads. The Ld. AO observed that the following expenditure debited to the P & L account were not explainable or substantiable with the documents available with the ass .....

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..... itted that the income declared by the assessee is much more than that is decipherable from Form 26AS. The Learned Counsel for the assessee has submitted that the assessee has taken into account all the income as depicted in Form 26AS. The Learned Counsel has submitted that the assessee may be given opportunity to reconcile the figures of income as compared to the information in Form 26AS. The Learned Departmental Representative (in short, the Ld. DR) has not objected to the same. This issue is, accordingly, restored to the file of the Ld. AO with a direction to verify the contention of the assessee from the accounts of the assessee and decide the issue afresh as per law. 10. Ground no. 7 is general in nature. In view of our findings above .....

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