9911796707
TMI Blog2013 (12) TMI 529X X X X Extracts X X X X X X X X Extracts X X X X ..... The Ld.CIT(A) has further erred in not appreciating the fact that the appellant has passed off major portion of commission received to his clients and has produced all the relevant documents before the Assessing Officer and the Commissioner of Income Tax Appeals. 3. The Ld.CIT(A) has not appreciated the fact that the appellant has even obtain TDS certificate u/s 197(1) from ITO (TDS) 3(1) for lesser deduction of TDS on the above fats and accepted practice in the industry. 4. The Ld.CIT(A) has erred in treating the Short Term Capital Gain of Rs.20,23,004/- as Business Income as against Short Term Capital Gains declared by the appellant. 5. The Ld.CIT(A) has further erred in accepting the CBST circular no. 4/2007 dated 15.06.2007 which spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he additional grounds no. 7-9 are purely legal in nature and go to the root in relation to the assessability of the impugned amounts. The same do not require verification of new facts or material. Respectfully following the judgment of the Hon'ble Supreme Court in the case of NTPC 229 ITR 383, we admit the additional grounds. 6. Before us, the Ld.AR has stated that during the assessment proceedings by the AO, the assessee has been served with the show cause notice on 29.12.2008 to which an instant reply was insisted upon by the AO as the assessment is getting time barred two days later on 31.12.2008. The reply to the show cause notice has been filed on the same day i.e.,29.12.2008 without application of mind and merely relying on the pract ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceedings, we are of the view that the same ought to have been admitted when the Ld.CIT(A) has been relying on remand report on the additional evidence filed by the assessee. Considering the facts and circumstances of the case, we feel that it is just and proper to restore this entire appeal to the file of AO with a direction to frame a de novo assessment after giving the assessee a reasonable opportunity of hearing and placing all the evidence on record which can support the case of the assessee. After providing such reasonable and sufficient opportunity to produce all those necessary evidence, the AO will frame a de novo assessment as per provisions of law. We order and direct accordingly. Since we are directing the AO to frame de novo ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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