9911796707
TMI Blog2021 (12) TMI 797X X X X Extracts X X X X X X X X Extracts X X X X ..... himself that during the investigation, ledger account of M/s. Bhola Trading Company in the books of assessee company was reflecting the aforesaid transaction. The purchase invoices were also produced before the investigation wing. Assessing Officer further mentioned about the gross turnover of the assessee and observed that the income of the assessee company has considerably increased from AY 2008-09 to AY 2009-10. The Ld. Counsel, in this respect has submitted that the assessment year under consideration is AY 2009-10 and the assessee s income as per the reasons recorded has considerably increased. The sales / consumption of the material by the assessee has also not been doubted by the Assessing Officer. There is no mention of any evide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi (hereinafter referred to as the assessee ), by filing the present appeal sought to set aside the impugned order dated 07.01.2019 passed by the Commissioner of Income-tax (Appeals)-03, New Delhi, qua the assessment year 2009-10 on the grounds inter alia that :- 1.That on the facts and in the circumstances of the case and in law, ld. CIT-A erred in sustaining the order passed by Ld. AO u/s 147/143(3) without appreciating that assumption of jurisdiction u/s 148 was by Ld. AO was in violation of mandatory jurisdictional conditions stipulated under the Act; 1.1 That on the facts and in the circumstances of the case and in law, ld. CIT-A erred in sustaining the order passed by Ld. AO u/s 147/143(3) without appreciating that no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ieve and tangible material being brought on records and no material is confronted and cross examined to assessee during assessment proceedings despite specific request for cross examination noted in para 3.7 of assessment order without which entire proceedings are void ab initio; 1.5 That on the facts and in the circumstances of the case and in law, Id CIT-A erred in sustaining the order passed by Ld AO u/s 147/143(3) without appreciating that no back material like, investigation wing report details vis a vis assessee, and statements etc if any recorded by investigation wing, was lawfully confronted to assessee thus invalidating entire reopening and even cross examination request has not been adhered to by Ld AO/Ld CIT-A; 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3(3) without appreciating that when sales/turnover are not doubted purchase cant be doubted is well settled principle; 3.3 That on the facts and in the circumstances of the case and in law, Id CIT-A erred in sustaining the order passed by Ld AO u/s 147/143(3) without appreciating that payment of purchases is made through banking channel as replied in our letter to AO refer page 2 3 of assessment order and duly accepted at para 3.8 of assessment order which fact is no where contradicted and no material is brought on records for cash flying back to assessee herein from stated banking channel payments without which entire addition is bad and deserves to be deleted; 3.4 That on the facts and in the circumstances of the case and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pen u/s 147 read with section 148 of the Income Tax Act, and the impugned addition of ₹ 59,19,233/- was made by the Assessing Officer in the assessment framed u/s 147 / 143(3) of the Income Tax Act. 3. The addition made by the assessing officer has been confirmed by the Ld. CIT(A). Being aggrieved, the assessee has come up before the Tribunal by way of filing the present appeal. 4. At the outset, the Ld. Counsel for the assessee has submitted that the assumption of jurisdiction by the assessing officer to reopen the assessment was bad in law as the Assessing Officer did not have any reason to believe that the income of the assessee has escaped assessment. In this respect he had relied upon the copy of the reasons recorded for re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... self that during the investigation, ledger account of M/s. Bhola Trading Company in the books of assessee company was reflecting the aforesaid transaction of ₹ 2,36,76,932/-. The purchase invoices were also produced before the investigation wing. The Assessing Officer further mentioned about the gross turnover of the assessee and observed that the income of the assessee company has considerably increased from AY 2008-09 to AY 2009-10. The Ld. Counsel, in this respect has submitted that the assessment year under consideration is AY 2009-10 and the assessee s income as per the reasons recorded has considerably increased. The sales / consumption of the material by the assessee has also not been doubted by the Assessing Officer. There is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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