9911796707
TMI Blog2025 (1) TMI 814X X X X Extracts X X X X X X X X Extracts X X X X ..... s also not taken into consideration the grounds of appeal of the assessee in which it was submitted that since the entire additions were on account of ad-hoc apportionment of expenses, penalty was not liable to be levied in the instant facts under Section 270A of the Act. On going through the contents of the order passed by the Ld. CIT(A), it is observed that Ld. CIT(A) has not discussed either the facts of the case submitted by the assessee and nor discussed the grounds of appeal raised by the assessee. Thus matter is restored to the file of Ld. CIT(A) for de-novo consideration and to pass appropriate orders - Appeal of the assessee is allowed for statistical purposes. - Dr. BRR Kumar, Vice President And Shri Siddhartha Nautiyal, Judicia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment, the Assessing Officer observed that the power plant division of the assessee had a turnover of 14.51 crores on which net profit of Rs. 9.75 crores was shown. This net profit percentage shown by the assessee on it s power plant division amounted to 67.16% as against net profit percentage of 2.77% shown by the assessee on it s steel business. The assessee had claimed deduction under Section 80-IA in respect of it s power plant division on which a very high net profit rate of 67.16% was declared. However, the net profit rate from the steel plant unit, which was inextricably related to the power plant unit and on which no deduction was claimed, was shown at a very low figure of 2.77% only. Accordingly, the Assessing Officer was of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made in the assessment order. Accordingly, the Assessing Officer imposed penalty @ 50% of the tax on the under-reported income amounting to Rs. 36,31,592/- under Section 270A of the Act. 4. In appeal, Ld. CIT(A) dismissed the appeal of the assessee on account of non-appearance. 5. The assessee is in appeal before us against the order passed by Ld. CIT(A) dismissing the appeal of the assessee on account of non-appearance. 6. Before us, the Counsel for the assessee submitted that this is not a fit case for levy of penalty under Section 270A of the Act. This is for the reason that firstly Ld. CIT(A) has itself in the quantum order for the impugned assessment order dated 29.11.2019 has given substantial relief to the assessee wherein, Ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tice. 7. On going through the records of the instant case, we observe that while dismissing the appeal of the assessee against the Section 270A order, Ld. CIT(A) did not take into consideration the facts of the case submitted by the assessee (in Form No. 35) in which it was pointed out that Ld. CIT(A) had granted substantial relief to the assessee in quantum proceedings. It is further observed that Ld. CIT(A) has also not taken into consideration the grounds of appeal of the assessee in which it was submitted that since the entire additions were on account of ad-hoc apportionment of expenses, penalty was not liable to be levied in the instant facts under Section 270A of the Act. On going through the contents of the order passed by the Ld. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the passing of the assessment order is non-est in the eyes of law and thus deserves to be annulled. 3. Learned CIT(A) has erred in law and on the facts of the case in confirming the action of learned AO in making an addition of Rs.31,46,961/- u/s 28 on account of duty drawback. 4. Learned CIT(A) has erred in law and on the facts of the case in confirming the action of learned AO in disallowing Rs.2,70,94,527/- u/s 80-IA of the act. 5. Learned CIT(A) has erred in law and on facts in not properly appreciating and considering various evidence and supporting documents available on record during the course of the assessment proceedings and not properly appreciating various facts and law in its proper perspective. 6. Learned CIT(A) has erred in l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of Ld. CIT(A) for denovo consideration, after giving due opportunity of hearing to the assessee. 13. On going through the records of the case, taking into consideration the fact that substantial additions have been made by the Assessing Officer to the income of the assessee and also Ld. CIT(A) while passing the order has not discussed / dealt with the individual grounds of appeal raised by the assessee before him, we are of the considered view that interests of justice would be served if the matter is restored to the file Ld. CIT(A) for de-novo consideration. Accordingly, the matter is restored to the file of Ld. CIT(A) for de-novo consideration after giving due opportunity of hearing to the assessee to present it s case on merits. 14. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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