TMI Blog2022 (5) TMI 769X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has also filed copy of the godown receipt for the month of March 2005. Assessee specifically stated that said receipts were filed before AO. As mentioned in the assessment order that no details were filed. Therefore, in the interest of the justice, the issue is set-aside to the file of the Assessing Officer to verify all the bills, godown receipts afresh. The AO will also verify whether any stock statement was submitted alongwith Audit Report. The assessee is directed to submit all the details before the Assessing Officer. The Assessing Officer is directed to provide an opportunity of being heard to the assessee, accordingly, grounds raised by the assessee are allowed for statistical purpose. - ITA No. 516/PUN/2016 - - - Dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny required in support of the above grounds of appeal. 5] The appellant craves leave to add, alter, amend or delete any of the above grounds of appeal. 2. In this case, the Hon'ble ITAT in ITA No. 516/PUN/2016 for A.Y. 2005-06 vide order dated 25.04.2018 had dismissed the assessee's appeal due to defects in the Form No. 36, at that time, no one had appeared on behalf of the assessee. However, assessee subsequently filed the Miscellaneous Application vide M.A. No. 82/PUN/2018. Vide order dated 08.02.2019, the impugned appeal was restored. 3. Brief facts of the case are that the appellant assessee is carrying on the business of trading in equity shares, commodities. The Assessing Officer(AO) noticed that the assessee has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction is speculative in nature. The Ld. AR categorically stated before the Bench that assessee's representative has not admitted any such thing before the AO. 5. On the other hand, the Ld. DR for the Revenue relied on the order of the Assessing Officer. 6. We have heard both the parties, perused the material available on record and gone through the orders of the lower authorities. It is mentioned in the assessment order that assessee had filed audit report in Form No. 3CB and 3CD. However, the AO has not mentioned whether any quantitative details of the guargum were filed or not!. The assessee claims that assessee had purchased and sold 160 tonnes of guargum . The assessee has also filed copy of the godown receipt for the mo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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