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TMI Blog2021 (7) TMI 889X X X X Extracts X X X X X X X X Extracts X X X X ..... e and the matter is restored to the file of the Assessing Officer with the above stated directions. Appeal of the assessee allowed for statistical purposes. - I.T.A. No. 104/Kol/2021 - - - Dated:- 12-7-2021 - Sanjay Garg, Member (J) For the Appellant : Anil Kochar, Advocate For the Respondents : Jayanta Khanra, JCIT, Sr. DR ORDER The present appeal has been preferred by the assessee for the assessment year 2015-16 against the order dated 21.06.2019 of the Commissioner of Income Tax(Appeals)-10, Kolkata (hereinafter referred to as the 'CIT(A)'). 2. The assessee in this appeal has taken the following grounds of appeal: 1. For that the orders passed by the lower authorities are arbitrary, erroneous, witho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by 571 days. An application for condonation of delay has been filed. Mr. Kochar, the ld. counsel for the assessee, has submitted that the order of the CIT(A) was received by the assessee in the month of July 2019 and that the assessee at that time faced family problems as his both parents expired during the period. Further, the assessee was also prevented with sufficient cause because of the problems/restrictions faced during Covid-19 pandemic. Considering the above submissions, the delay of filing of the present appeal is hereby condoned. 5. During the assessment proceedings, the Assessing Officer noticed that the assessee had shown the aforesaid income of ₹ 1,99,999/- as income from commodity profit. On being explained to prove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the Assessing Officer has wide powers to summon witnesses and call for confirmation of the transactions from concerned witnesses/parties. He has further submitted that the assessee had duly carried out commodity transactions and if the brokers had not turned up, the assessee should not be faulted with the same, rather, the Assessing Officer may be directed to properly verify the transactions by summoning/calling upon for confirmation from the concerned brokers. 8. The ld. DR, on the other hand, has relied upon the findings of the lower authorities. 9. After considering the rival submissions, I am of the view that the Assessing Officer was required to make proper enquiries before reaching to the conclusion that the transaction of com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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