DCIT, COIMBATORE vs. M/S. T. STANES & CO. LTD., COIMBATORE

We heard Shri N.Gopi Krishna, learned Departmental Representative, and Shri R.Vijayaraghavan the ld. Counsel for the assessee.

The first issue arises for consideration is assessment of Sales Tax liability. The second issue arises for consideration is disallowance of `18,78,289/- u/s.40(a)(ia) of the Act.

Shri R.Vijayaraghavan, the ld. Counsel for the assessee, filed material evidences in the Appellate proceedings. These evidences were filed before the Ld.CIT(A) and before this Tribunal. The ld. Counsel for the assessee and the Departmental Representative clarified that these documents were not available before the ld. Assessing Officer. Therefore, the ld. Assessing Officer has no occasion to examine the same. In view of the above, this Tribunal is of the considered opinion that this matter needs to be re-examined by the ld. Assessing Officer. Hence, the orders of both the authorities below are set aside, and the entire issues raised by the assessee in its appeal are remitted back to the file of ld. Assessing Officer. The Assessing Officer shall re-examine the matter, considering the material filed by the assessee, and thereafter decide the same in accordance with law after giving a reasonable opportunity to the assessee.

In the result, the appeal of the Revenue is allowed for statistical purposes.