What did the Tribunal hold?

The Tribunal set aside the issue back to the CIT(A) with a direction to decide the grounds on merits, considering the additional evidence and submissions, and granting the assessee an opportunity to present its case.

The Assessing Officer made a trading addition of Rs. 29,08,064/- to the assessee's declared income, which was confirmed by the CIT(A). The assessee appealed this decision.

What were the issues?

Whether the CIT(A) was justified in sustaining the trading addition without properly considering the assessee's grounds and additional evidence.

M/S. Varun Sheokand, Faridabad vs ITO | ITAT Delhi 2018

Income Tax Appellate Tribunal, DELHI BENCHES: ‘C’, NEW DELHI

Before: SHRI RS SYAL & SMT. BEENA A PILLAI

Hearing: 31/05/2018Pronounced: 31/05/2018

ORDER PER BEENA A PILLAI, JUDICIAL MEMBER

Present appeal has been filed by assessee against order dated 10/02/15 passed by Ld. CIT (A), Faridabad for Assessment Year (A.Y.) 2010-11 on the following grounds of appeal:

1. That on facts and circumstances of the case as well as in law, Ld.CIT(A) was not justified in sustaining the trading addition of Rs.29,08,064/- made by A.O. u/s 144 of the Income Tax Act, 1961 (the Act).

ITA 2339/Del/2015 A.Y.: 2010-11 M/s Varun Sheokand vs. ITO 2. That the addition is contrary to the settled judicial principles and decisions. 3. That without prejudice to the above ground, on the facts of the case, the addition is too excessive.”

Brief facts of the case are as under: Assessing Officer (A.O.) passed assessment order under section 144 of the Act by computing income in the hands of assessee at Rs.62,23,940 vis-a-vis income declared by assessee in the return filed at Rs.9,12,350/-.

Aggrieved by order of Ld.AO assessee preferred appeal before Ld.CIT(A), who confirmed the addition. 4. Aggrieved by the order of Ld. CIT (A) assessee is in appeal before us now. 5. Today before us neither assessee himself nor any of his Representatives has appeared to present his case. From the order of Ld. CIT (A) it is observed that additional evidences were submitted by assessee which were remanded to Ld. AO for his comments. Ld. AO did not admit the additional evidences. Ld. CIT (A) by placing reliance upon various decisions admitted the additional evidence but has not discussed the grounds raised

by assessee on merits as per law.

6. We are, therefore, inclined to set aside this issue back to Ld. CIT (A) with a direction to decide the issues on merits as per law on the basis of the additional evidences as well as the submissions advanced by assessee. Needless to say that proper opportunity may be granted to assessee to represent its case.

ITA 2339/Del/2015 A.Y.: 2010-11 M/s Varun Sheokand vs. ITO 7. Accordingly the grounds raised by assessee stands allowed for statistical purposes.

8. In the result appeal filed by assessee stands allowed for statistical purposes. Order pronounced in the open court on 31.05.2018.

M/S. VARUN SHEOKAND,FARIDABAD vs. ITO, FARIDABAD

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