TMI Blog2003 (6) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... his way, the cost of alleged purchases was neutralized by their value shown in the closing stock and no deduction was claimed or allowed in accounts of the relevant year. The learned CIT(A) accepted the above contention and cancelled the penalty. This was done as per his order dt. 6th Nov., 1992. 3. The Revenue filed appeals against the above order only on 6th Sept., 1999 and there is delay of 6 years and 250 days in the submission of the appeal. In the application for getting the delay condoned, the appellant has contended as under: "In the above-mentioned case, the AO during the assessment proceedings noted that the assessee had made some bogus purchases during the previous year relevant to the asst. yr. 1987-88. The total amount of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction from CIT, Patiala to CIT, Jalandhar and then to CIT, Ludhiana after the creation of Commissionerate, Ludhiana. These facts were noticed while going through the assessment records for the purpose of perusing the appellate order of the Hon'ble Tribunal, dt. 30th June, 1999, }in ITA No. 86/Chandi/92. At present time limitation for filing miscellaneous petition before the learned CIT(A) is not available and the only remedy to protect the interest of Revenue is to file appeal before the learned Tribunal. Keeping in view these facts of the case the Hon'ble Tribunal is requested to condone the delay in filing appeal and to entertain the same." 4. The assessee has opposed above request and submitted that the above inordinate delay could not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has not been properly explained and sufficient ground not shown to get the delay condoned. The appeal is dismissed as out of time. 5. Before close, certain other relevant factors are needed to be stated in this case. The quantum appeal of the assessee relating to bogus purchases of Rs. 2,56,777 was heard and disposed of by 'SMC' Bench of the Tribunal vide order dt. 30th March, 1999. The assessee in the above hearing before the Tribunal had also relied upon the finding recorded in the impugned order of the learned CIT(A) that bogus purchases were shown and reflected in the closing stock. The Tribunal did not treat the finding of the CIT(A) in the impugned order as final and set aside the assessment and remitted the matter back to the AO fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 271(1)(c) proceedings, the assessee at no stage contended that the purchases were genuine and all that was argued was that there was no reduction in respect of the income since debit was matched by the credit in the closing stock and it was on this solitary plea that the CIT(A) cancelled the penalty. In reply, the learned counsel stated that since the alleged bogus purchases were reflected in the closing stock there would be no addition since debit is set off by the credit in the closing stock. He, accordingly, urged that on the assumption that the Tribunal is pleased to hold that the purchases were bogus then corresponding deduction be allowed by excluding an identical amount from the figure of closing stock. The plea, of the learned c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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