SAI SWADHIN COMMERCIAL PVT. LTD,JEYPORE vs. ACIT, CENT, CIR. -1, BHUBANESWAR

The assessee has raised the additional grounds regarding 153D Approval and grounds regarding limitation of the order.

At the time of hearing, ld. AR has withdrawn the above grounds.

It was submitted by the ld. Sr. Advocate that the assessee has produced substantial evidences before the AO but it is not adequate and additional documents were required to be produced. It was the submission that the evidences were produced before the ld. CIT(A) but the ld. CIT(A) had not considered these evidences. It was the prayer that the assessee may be granted another opportunity to produce all the AO. It was the submission that the assessee undertakes to produce all the evidences before the AO if the issues in the appeal are restored to the file of AO for readjudication.

In reply, ld. Sr. DR vehemently opposed the reasons for restoration to the ld. AO. It was the submission that the substantial opportunities have been provided to the assessee to produce the evidences before the AO.

We have considered the rival submissions. Coming to the issues of the additional grounds, which have been raised, admittedly, these grounds have been raised without supporting memo for filing of the additional grounds, neither is the same accompanied by the affidavit required under Rule 10 of the ITAT Rules, nor has any documents been produced to substantiate the additional grounds filed, however, the ld. Sr. Advocate has withdrawn the additional grounds. Thus, we are not considering the additional grounds nor adjudicating the same.

Coming to the prayer of the ld. Senior Counsel that the issues may be restored to the file of AO, a perusal of the assessment order shows that the assessee has not produced regular books of accounts before the AO and also the assessee has not been able to provide any evidence in respect of availability of stock in the course of assessment proceedings. This being so, as the ld. Senior Counsel has also given undertaking that the assessee will cooperate if the issues are restored to the file of AO, therefore, in the interest of natural justice, the issues in this appeal are restored to the file of AO for readjudication after granting the assessee adequate opportunity of being heard.