TMI Blog2023 (7) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... rned CIT(A) as the deletion of estimated addition on net profit was made based on the remand of the learned AO - once an issue has been accepted by the learned AO in the remand report, the learned AO would be precluded from filing further appeal to the Tribunal as he could not have any grievance in the matter. This issue is settled by the decision of Smt. B. Jayalakshmi [ 2018 (8) TMI 208 - MADRAS HIGH COURT] Addition of unsecured loan u/s 68 - CIT-A deleted the addition - HELD THAT:- We find that the assessee had provided confirmation of loan from the creditor, ITR of creditor, evidence for receipt of loan through banking channel and evidence of repayment of loan through banking channels in subsequent years. All these additional e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made by applying net profit rate rejecting the books of accounts, bills and vouchers for verification before the AO during the course of assessment proceedings. 2. The Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 34,00,000/- made on account of unsecured loan u/s 68 of the I.T. Act, 1961 as the assessee could not furnish/produce the confirmation of unsecured loan from M/s Tirupati Investment. 3. The order of the Ld. CIT(A) be set-a-side and the order of the AO be restored. 3. We have heard the rival submissions and perused the materials available on record. The assessee is a partnership firm engaged in the business of civil contract. The return of income for the assessment year 2014-15 was filed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount were properly maintained by the assessee but, however, pointed out certain discrepancies on account of non-deduction of tax for certain expenses and non-allowability of certain expenses as deduction under section 37(1) of the Act. The learned Assessing Officer furnished the remand report on 01.02.2018 before the learned CIT(A). The copy of the remand report was forwarded to the assessee for its rejoinder. The assessee submitted its rejoinder vide letter dated 20.02.2018 before the learned CIT(A). The learned CIT(A) based on the remand report made the disallowance of certain expenses for violation of provisions of section 40(a)(ia) of the Act in the sum of Rs. 17,86,353/- ; certain capital loss wrongly claimed as deduction in the sum of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e inferences were drawn about the manner in which books of account were maintained by the assessee. We further find that the other discrepancies noticed by the learned AO in the books of account submitted before him in the remand proceedings were duly added by learned CIT(A) in his appellate order. Hence, we do not find any infirmity in the order of learned CIT(A) as the deletion of estimated addition on net profit was made based on the remand of the learned AO. In this regard, once an issue has been accepted by the learned AO in the remand report, the learned AO would be precluded from filing further appeal to the Tribunal as he could not have any grievance in the matter. This issue is settled by the decision of Hon ble Madras High Court i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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