9911796707
TMI Blog2023 (4) TMI 1185X X X X Extracts X X X X X X X X Extracts X X X X ..... efore the authorities. There is nothing contrary to disbelieve the statement of the learned AR that the assessee could not prosecute the proceedings before the authorities diligently due to the fact of non-availability of the persons responsible for the affairs of the company. In fact, this peculiar circumstance is taken note by the Co-ordinate Benches of this Tribunal in the cases of the group concerns on earlier occasions. Thus we are of the considered opinion that it would be in the interest of justice to set aside the impugned orders and to restore the matters to the file of AO to adjudicate the same afresh, after giving an opportunity of being heard to the assessee and also to produce all the relevant material at their custody. We h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red. As a matter of fact, learned DR fairly concedes to condone the delay. Recording the same, we condone the delay and proceed to hear the matter on merits. 2. There was a search and seizure operation in the case of the assessee on 23/01/2015 and pursuant thereto, after filing of the return of income by the assessee, learned Assessing Officer made an addition of Rs. 13,17,83,402/- on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash payments. Apart from this, learned Assessing Officer also made an addition to the tune of Rs. 2.45 crores under section 68 of the Income Tax Act, 1961 (for short ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irs of the company were in judicial custody and, therefore, the assessee could not produce all the relevant books, vouchers etc., before the authorities to prosecute the case diligently. Learned AR produced the copy of the certificate dated 26/02/2019 issued by the Superintendent, District Jail, Eluru and also the letter dated 24/11/2016 addressed by Shri A.V. Rama Rao, Chairman of the Agri Gold group to the DCIT, Hyderabad. He further submitted that given an opportunity, the assessee is ready to produce all the material before the learned Assessing Officer to prove their case and get the assessment done on merits. He submitted that precisely on this ground on earlier occasions, a Co-ordinate Bench of this Tribunal in the batch of cases con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l and the Co-ordinate Bench of this Tribunal took the view to set aside the impugned orders and to restore the issue to the file of the learned Assessing Officer for giving an opportunity to the assessee to dispose of the matters according to law. It is clear from the certificate dated 26/02/2019 issued by the Superintendent, District Jail, Eluru and also the letter dated 24/11/2016 addressed by Shri A.V. Rama Rao, Chairman of the Agri Gold group to the DCIT, Hyderabad that the Chairman, Vice Chairman, Managing Directors and others were in custody between the period 12/02/2006 and 23/10/2018 and lodged in District Jail, Eluru. 8. This material clearly establishes that from 12/02/2016 to 23/10/2018 all the persons responsible for the affa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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