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TMI Blog2022 (8) TMI 1178X X X X Extracts X X X X X X X X Extracts X X X X ..... ted profit made in the hands of the assessee. All the grounds raised by the assessee are allowed. - ITA No. 2554/Kol/2018 - - - Dated:- 1-8-2022 - Shri Rajpal Yadav, Hon ble Vice President (KZ) And Shri Manish Borad , Hon ble Accountant Member By Appellant/Assessee : None By Respondent/Department : Shri Prakashnath Barnwal, Addl. CIT/Ld.DR ORDER PER MANISH BORAD, AM. This appeal filed by the assessee pertaining to the Assessment Year ( in short AY ) 2007-08 is directed against the order dt. 24-09- 2018 passed by the ld. Commissioner of Income-tax, Appeals [ in short, hereafter referred to as the ld. CIT(A), 14, Kolkata, which is arisen from the assessment order framed u/s. 143(3)/147/263 of the Income-tax Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have filed an application for impleading them as appellants nor the Assessing Officer has brought the legal heirs on record. There might be a host of reasons for this. If the legal representatives can be charged to taxes only from the assets inherited by them as contemplated in Section 159(2) of the Act. There might be no asset for their inheritance and, therefore, they might not be interested in prosecuting the litigation before this Tribunal. We fail to understand the inaction at the end of the AO but it is a Single Member case appeal of 2018 which is, by all means, an old appeal in the Tribunal. 4. It is pertinent to observe that Rule 26 of the ITAT Rules, 1963 provides a procedure for dealing with cases where the death of a party or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3A of the Act on 23-05-2007. The ld. AO noticed that there was an escapement of income to the tune of Rs.16,000/- on the ground of unregistered sale and difference of Rs.52.027/- between the amount of income committed vis- -vis amount of income declared. The case was reopened by issuance of notice u/s. 148 of the Act. In the course of assessment proceedings the ld. AO observed that there was missmatch of figures between opening inventory and sales figure. It was submitted by the assessee that inadvertently there was some calculation mistakes, but there is no impact on the trading result of the concern and requested to accept the correct figure of sales and inventory. However, the ld. AO for this small reason rejected the book result and est ..... X X X X Extracts X X X X X X X X Extracts X X X X
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