TMI Blog2022 (6) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... he issue. As observed, the major addition resulting in the present demand being share capital received from non-resident shareholders treated as unexplained investment u/s 68 - While disposing of assessee s objection on this issue, learned DRP, while observing that the AO has not considered the evidences filed by the assessee, directed him to consider the evidences and pass a speaking order. We find, AO, while passing the final assessment order on the issue has simply repeated the observations made in the draft assessment order. The aforesaid facts clearly reveal that while passing the final assessment order the AO has failed to implement the directions of DRP in letter and spirit. AO, as it appears, has not followed the mandatory ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal. - S.A. No. 158/Del/2022 [Arising out of ITA No. 1291/Del/2022] - - - Dated:- 24-6-2022 - Shri G.S. Pannu, Hon ble President And Shri Saktijit Dey, Judicial Member For the Appellant : Sh. Rohit Jain, Advocate, Sh. Deepesh Jain, Advocate. For the Respondent :by Sh. Mrinal Kumar Das, Sr. DR. ORDER PER SAKTIJIT DEY, JM: Captioned application has been filed by the assessee seeking stay on recovery of outstanding demand of Rs.155,35,09,214/-, including interest charged under section 234B and 234D of the Income-tax Act, 1961, pertaining to assessment year 2018-19. 2. Learned counsel for the assessee submitted, the impugned demand raised by the Assessing Officer is not enforceable as the assessment order in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee alleging breach of the provisions of section 144B of the Act with a reasoned order. However, in the final assessment order, the Assessing Officer has failed to deal with the issue. Further, he submitted, the DRP s direction to consider the evidences and submissions of the assessee relating to the additions made under section 68 of the Act pass a speaking order was not implemented by the Assessing Officer. He submitted, in the final assessment order the Assessing Officer, in verbatim, has incorporated the observations made by the Assessing Officer in draft assessment order. Thus, he submitted, while passing the final assessment order, since, the Assessing Officer has not implemented the directions of learned DRP, it is in gross ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken a specific ground challenging the validity of the draft assessment order due to noncompliance with the conditions of section 144B of the Act. The case of the assessee qua the violation of section 144B of the Act is, without issuing a show-cause notice and providing the assesse an opportunity of hearing, the Assessing Officer has proposed the draft assessment order. It is observed, while disposing of assessee s objection in this regard, learned DRP has directed the Assessing Officer to pass a speaking order on assessee s allegation of violation of provisions of section 144B of the Act. However, in the final assessment order, the Assessing Officer has remained completely silent on the issue. 8. It is further observed, the major addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of the corresponding appeal, whichever is earlier. 9. Further, accepting assessee s prayer for early hearing of appeal, which was not opposed by learned Departmental Representative, we direct the Registry to fix the appeal for hearing on 29.08.2022 on an out of turn basis. Paper-books, if any, must be filed by the parties sufficiently ahead of the date of hearing of appeal. Since, the date of hearing of appeal was announced in open court, in presence of both the parties, there is no need for issuance of separate notice of hearing to the parties. It is made clear, in case, the assessee seeks unnecessary adjournment, the stay granted will be vacated. 10. Before parting, we make it clear, the observations made by us in this order are p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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