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TMI Blog2019 (4) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... t AO has passed the exparte order u/s. 144(1) read with section 145(3) of the Act and similarly, the Ld. CIT(A) has also passed the exparte order dated 30.5.2018 by only upholding the order of the AO and did not pass a speaking order, which is not sustainable in the eyes of law. Keeping in view of the facts and circumstances of the case, the issues involved in the main Appeal for AY 2014-15 are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been preferred by the assessee, seeking stay of balance outstanding demand in dispute. Ld. Counsel of the assessee has reiterated the reasons given in the Stay Application and also stated that out of total disputed income tax demand of ₹ 1,51,51,259/- and paid 15% on 27.2.2017 i.e ₹ 22,75,000/- and accordingly balance income tax demand of ₹ 1,28,76,259/-. However, at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tice had been violated. iii) That without prejudice to above grounds, the AO was not justified in rejecting the books of accounts u/s. 145(3) of the Act thereby making an addition of ₹ 3,21,05,720/- to the manufacturing / trading results. At any rate, the addition as made is very excessive. iv) That the addition of ₹ 29,50,000/- as made u/s. 68 of the Act on account of fresh loan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the file of the Ld. CIT(A) with the directions to decide the same afresh, in accordance with law after giving adequate opportunity of being heard to the assessee and pass a speaking order. The Assessee through his counsel is directed to appear before the Ld. CIT(A) on 03.04.2019 at 10.00 AM for hearing and substantiate its claim before him and produce all the relevant evidences and did not take ..... X X X X Extracts X X X X X X X X Extracts X X X X
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