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TMI Blog2020 (8) TMI 588X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee came to know that the correct remedy for him was to challenge the order of the Pr. CIT passed u/sec.263 of the IT Act dt. 10-01- 2019. Then, he approached his Authorised Representative - there was no willful negligence or laches on the part of the assessee and in case if this delay of 245 days is not condoned, it would cause irreparable harm and injustice to the assessee. We find that there is good and sufficient reasons for filing the appeal belatedly. Accordingly, we condone the delay of 245 days in filing the appeal and admit the appeal for adjudication. Revision u/s 263 - excess cash deposits - AO declared it his deemed turnover and 2.5% of such deemed turnover, being rate of Gross Profit declared, was brought to tax - CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion - Appeal of the assessee is partly allowed for statistical purposes. - ITA No.680/Coch/2019 - - - Dated:- 12-3-2020 - S/Shri Chandra Poojari, AM And George George K., JM For the Assessee : Shri K.M.V. Pandalai, Adv. For the Revenue : Shri Mritunjaya Sharma, Sr. DR ORDER PER CHANDRA POOJARI, AM: This appeal filed by the assessee is directed against the order of the Pr. CIT, Trivandrum passed u/s. 263 of the I.T. Act dated 10/01/2019 and pertains to the assessment year 2014-15. 2. At the outset, there was a delay of 245 days in filing the appeal before the Tribunal. The Ld. AR has filed condonation petition accompanied by affidavit stating the reason for the delay in filing the appeal. The Ld. AR submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iling the appeal belatedly. Accordingly, we condone the delay of 245 days in filing the appeal and admit the appeal for adjudication. 3. The facts of the case are that the Assessee, is a wholesale dealer of Match boxes. He filed the return of income for the Assessment Tear 2014-15 declaring total income of ₹ 2,03,060/-. The case was selected for limited scrutiny through CASS for verification of deposits in savings bank accounts of the assessee which was found to be more than the turnover declared. The Assessing Officer completed the assessment u/s 143(3) of the I.T. Act by adding ₹ 1,28,190/- with the returned income and thus arrived at a total income at ₹ 3,33,190/-. 3.1 On subsequent verification of records, the Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directed that this revision u/s 263 is to be done after affording the assesses necessary opportunity of being heard. 4. Aggrieved by the order passed u/s. 263 of the I.T. Act by the Pr. CIT, the assessee is in appeal before us with the following grounds of appeal: 1. The order of the Commissioner of Income tax is against facts, law and circumstances of the case. 2. The Commissioner ought to have found that the amounts in question were either the remittances received by the Appellant -Assessee from his relations abroad through Bank and/or transfer of funds from his one bank account to other resulting in duplication of credits in the Appellant's account. 3. The impugned order passed by the Commissioner is beyond the scope of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that this Tribunal may be pleased to allow the appeal quashing the impugned order. 5. The Ld. DR relied on the order of the Pr. CIT. 6. We have heard the rival contentions and perused the material on record. The main contention of the Ld. AR is that the Pr. CIT has given a direction to the Assessing Officer to make addition u/s. 68 of the I.T. Act and apply special rate of tax u/s. 115BBE of the I.T. Act. According to him, the Pr. CIT pre-decided the issue and thereafter, he directed the Assessing Officer to give opportunity of hearing to the assessee. It is appropriate to give effect to the direction of the Pr. CIT after a fair opportunity of hearing is given to the assessee. In our opinion, the provisions of section 115BBE is applic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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