SHUBH RESOURCES PVT. LTD.,NEW DELHI vs. ITO WARD 23(3) , NEW DELHI

ORDER

PER VIKAS AWASTHY, JM:

(A.Y.2011-12) 3. Shri Abhinav Jain appearing on behalf of the assessee submitted at the outset that he is not pressing ground no. 3 of appeal challenging validity of reopening of assessment. He submitted that short prayer of the assessee is that the AO and the CIT(A) have failed to consider the documents furnished by the assessee during the course of assessment proceedings. He further submitted that various documents were seized by Directorate of Revenue Intelligence (DRI) in a search conducted in February to April 2011. Therefore, the assessee could not produce some of the relevant documents before the AO and CIT(A). He further stated that the AO has made addition placing heavy reliance on the statement of one Shri Madhusudhan Satyanarayan. The statement of aforesaid person was recorded at the back of the assessee. The assessee made prayer before the AO to provide a copy of statement of Madhusudhan Satyanarayan. Neither the statement of Madhusudhan Satyanarayan was provided to the assesseee, nor an opportunity to cross-examine Madhusudhan Satyanarayan was afforded to the assessee. He prayed that the appeal may be restored to AO for fresh assessment after considering the documents placed on record by the assessee and further documents that the assessee would place on record after the same are released by DRI.