TMI Blog2011 (10) TMI 772X X X X Extracts X X X X X X X X Extracts X X X X ..... directed against the order of the Commissioner of Income tax (A)-II, Nashik u/s. 263 of Act dated 30/03/2010 for the assessment year 2003-04. 2. The Grounds of appeal, as raised by the assessee, read as under: 1. On the facts and in circumstances of the case and in law, the learned Commissioner of Income Tax II, Nashik erred in passing the order u/s.263 of the Income Tax Act, 1961, and in s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue audit and then the AO sought clarifications on the said objection which is evident from the document at page no.45 of the paperbook. As per the said letter by the AO, he sought clarification on the issue of additional income of Rs.41,95,490/- which includes excess stock of 2Rs.22,97,843/- vide letter dated 11.08.2008. In response to the same, the assessee replied and provided the detailed c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... med the jurisdiction u/s. 263 of the Act. As the Assessing Officer has already applied his mind towards the issue raised by the CIT(A) is consequent to the audit objection. He had also demonstrated the way Assessing Officer was satisfied by explanation given by the assessee on this issue. Further, the Learned Counsel for the assessee mentioned that the identical and the technical issue came up for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... objection during the post assessment proceedings of get merged with Assessing Officer order passed u/s. 143(3) of the Act. Therefore, on this preliminary issue, we are of the opinion that the assessee should get relief on the grounds raised in the appeal. Accordingly grounds raised by the assessee are allowed. 5. In the result, the appeal of the assessee is allowed. Order pronounced in the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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