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TMI Blog2023 (6) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... PER B.R. BASKARAN, ACCOUNTANT MEMBER : The assessee has filed this appeal challenging the order dated 13-03-2023 passed by Ld CIT(A), NFAC, Delhi and it relates to the assessment year 2019-20. The assessee is aggrieved by the decision of Ld CIT(A) in dismissing the appeal of the assessee as non-maintainable. 2. The facts relating to the case are stated in brief. The assessee is a stock broker. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The first appellate authority dismissed the appeal of the assessee holding that there is no provision to file appeal against the defect notice issued u/s 139(9) of the Act. Aggrieved by the order so passed by Ld CIT(A), the assessee has filed this appeal. 3. We heard the parties and perused the record. We notice that the Pune bench of ITAT has held in the case of Deere & Company vs. DCIT (2022)( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 4. On merits, the Ld A.R submitted that the assessee is not liable to get its accounts audited. Referring to the Profit and Loss account, the Ld A.R submitted that the gross business receipts of the assessee was Rs.92,95,722/- and the same is below the threshold limit of Rs.1.00 crore. He further submitted that the assessee has shown other income of Rs.6.62 crores in the Profit and Loss accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the gross business receipts was Rs.92,95,722/-, which is less than the threshold limit of Rs.1.00 crore prescribed u/s 44AB of the Act for getting the accounts audited. The Statement of Total income furnished by the assessee would show that the other income has been declared either under the head Capital gains or under the head Other Sources. Hence, there is merit in the submission of the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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