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TMI Blog2014 (4) TMI 942X X X X Extracts X X X X X X X X Extracts X X X X ..... .T.A. No. 6324/Del/2012 - - - Dated:- 7-3-2014 - Shri. G. D. Agrawal And Shri U. B. S. Bedi,JJ. For the Appellant : Sh. Gautam Jain, CA For the Respondent : Smt. Nidhi Srivastava, Sr. DR ORDER Per U. B. S. Bedi, JM. This is an appeal of the assessee is directed against the order passed by Ld. CIT(A)-II, New Delhi dated 23.10.2012 relevant to assessment year 1997-98 whereby besides challenging confirmations of additions of Rs.10,00,000/- and rejection of books of accounts of the assessee company by invoking section1 45(3), the assessee has also challenged confirmations of addition of Rs.28,77,283/- by separately invoking section 68 of the Act and in addition, challenge is also against sustaining the levy of interest u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s.28,77,283/- made u/s 68 of the Income Tax Act. 5. In the written submissions filed during the appellate proceedings, the AR has argued that additions were ad hoc and not in accordance with the direction of the ITAT; that books of accounts were not available with the assessee; that no adverse material has been brought on record to doubt the veracity of the audited accounts; that the appellant had been consistently following the percentage completion method of accounting which had been accepted by CIT(A) in the appeal against the first round of assessment; that with regard to the addition made u/s 68, confirmation has been filed; and that while the initial onus on the assessee had been discharged; the AO had failed to make any inquiry an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee's counsel did not raise any serious objection in case the matter is reconsidered and re-decided afresh, however otherwise pleaded for confirmation of the impugned order. 8. We have heard both the sides and considered the material available on record. We have also gone through the orders of the authorities below and find that plea of the assessee for setting aside the matter on the file of the AO is just and appropriate because during the search, books of accounts have been seized and there is nothing placed on record to show that such books of accounts have ever been handed over to the assessee and assessee had along been contesting for verification of the accounts from the books of accounts being held with the tax auth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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