9911796707
TMI Blog2014 (4) TMI 810X X X X Extracts X X X X X X X X Extracts X X X X ..... ter alia demerger of 3 units of the assessee - assessee’s original return of income was filed on the basis of then available audited accounts which included the profit/loss of the demerged units - Assessing Officer passed assessment order dated 21.12.2009 which was based on the claims / figures as per original return of income – thus, assessee could not file the revised return along with the revis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s case Ld. Counsel of the assessee submitted that following additional grounds of the appeal may be admitted : 1. That the CIT(A) erred on facts and in law in not adjudicating the additional grounds of appeal raised by the appellant seeking exclusion of income and expenditure relating to, inter alia, the demerged units in order to give effect to the Rehabilitation Scheme sanctioned by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted that after a long delay, rehabilitation scheme could be implemented. It has been submitted that in the meanwhile assessee filed return of income for Financial Year 2007- 08 on 31.10.2007 on the basis of the then available financial statements which were prepared without giving effect to the revised Rehabilitation Scheme. It has been, further, claimed that in the return filed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal evidences under Rule 46(A) of the Income Tax Rules. However, CIT(A) did not adjudicate the additional grounds. 5. In view of the above circumstances, Ld. Counsel of the assessee submitted that the issues in this appeal needs to be restored back to the files of the Assessing Officer. The Assessing Officer needs to adjudicate the issue a fresh in light of the revised figures and statements a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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