Assessee filed two miscellaneous applications against ITAT’s order, contending that transactions entered in regular Books of Account cannot be subject matter for addition in block period assessments. Assessee submitted that issue was not considered. ITAT recalled the appeals to consider the grounds afresh.-500606
1. Assessee filed two miscellaneous applications against the order of the ITAT.
2. He contended that it had been argued at the time of hearing the appeal that transactions entered in regular Books of Account of assessee and which was reflected in the Books cannot be subject matter for addition in block period assessments.
3. It was contended that ITAT had not considered the established law that transactions entered in regular Books of Account had to be enquired into only in the regular assessment but not in the block assessment, unless some incriminating material found and seized during the search which had a bearing on the disclosed transactions.
The ITAT held as under:
4. Neither of us are party to the hearings in the original appeals and to the order passed and we are not in a position to consider whether the contentions were raised at that point of time.
5. However, considering the detailed submissions made above and the order of coordinate bench dt 30-07-2015 in other group cases wherein on similar applications some of the grounds were recalled, We in the interest of justice, recall these two appeals to consider afresh those grounds as stated above.
Case Reference - Shri Harmahender Singh Bagga vs Deputy Commissioner Of Income Tax.
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES "B", HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND
SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER
M.A. Nos. 109 & 110/Hyd/2013
Arising out of IT(SS)A Nos. 69 & 74/Hyd/2005