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TMI Blog2014 (6) TMI 662X X X X Extracts X X X X X X X X Extracts X X X X ..... ctory building given on license for conduct of business. The assessee has also sought to file the additional evidence in the shape of details of asset and machinery in the factory premises which was given on license - the additional evidence sought to be filed by the assessee requires a proper verification and examination at the level of AO – thus, the additional evidence to be filed by the assessee – thus, the AO is directed to decide the issue after verification and examination of the additional evidence filed by the assessee - the claim of depreciation is also required to be examined by the AO if the income received by the assessee is treated as business income - the assessee has claimed depreciation including land and building which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3. The assessee has raised common grounds in both the appeals. The ground raised for A.Y. 2007-08 is as under:- Being aggrieved by the order of the Learned Commissioner of Income Tax (Appeals) XXVI, Mumbai, this appeal petition is submitted on the following ground: 1. On the facts and circumstances of the case and in law the Learned Commissioner of Income Tax (Appeals) (CIT(A)) erred in not setting aside assessment completed u/s 144 of the Act. 2. On the facts of the case the Learned CIT(A) erred in confirming income from Rental business from leased premises as Income from House Property . 3. On the facts of the case the CIT(A) erred in unfairly sustaining sundry creditors of Rs. 37,26,971 under section 68 of the I.T. Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rized Representative of the assessee has submitted that the non appearance on behalf of the assessee before the Assessing Officer as well as before the CIT(A) is due to the lapse on the part of the Authorized Representative of the assessee who did not appear before the authorities below without intimation to the assessee. He has further submitted that the assessee has filed the petition under rule 29 of the Income Rules for admission of additional evidences which could not be filed before the authorities below due to non representation on behalf of the assessee. The Ld. Authorized Representative has referred the intended additional evidences and submitted that the main issue in the appeal is the treatment of license fee of the factory build ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hy the additional evidence could not be filed before the authorities below. The Ld. DR has thus vehemently opposed the admission of additional evidence and submitted that the business conducting agreement now filed by the assessee is an afterthought created evidence and should not be allowed when the assessee has not explained the sufficient reason for not filing the same before the authorities below. 8. We have considered the rival submissions and have carefully perused the relevant material on record. For the A.Y. 2007-08, the assessment order as well as the impugned order of CIT(A) are passed ex parte for want of any representation from the side of the assessee. The assessee has explained the reasons for non appearance as fault on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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