Case Law Details
Satish Kumar Contractor Vs ACIT (ITAT Delhi)
Counsel for the assessee vehemently submitted that the AO was not justified in making the addition on substantive basis in the hands of the assessee. He submitted that the assessee had filed a Supplementary Partnership Deed which clarified about the liability of the assessee firm. It was further submitted that the AO failed to appreciate the fact that there was no escapement of income hence, the re-opening of the assessment in the case of the assessee, is not justified.
The AO made addition at the hands of the assessee on substantive basis. However, it is stated that the partner of the assessee firm in his individual capacity as owned up the contractual receipts as his own business receipt. The reasons for not accepting the Supplementary Partnership Deed as stated by the AO is that this Supplementary Deed was not produced during the assessment proceedings for AY 2008-09 in the case of Shri Satish Kuamr, partner of the firm. Though, the assessment in his case was completed on 28.12.2010 on protective basis. Considering the facts available on record, I am of the considered view that the authorities below ought to have given clear finding regarding the terms of Partnership Deed and Supplementary Deed as furnished by the assessee. Even, Ld.CIT(A) failed to advert the submissions of the assessee. Therefore, the impugned order is set aside and the issue is restored to the file of AO to decide it afresh after giving adequate opportunity of hearing to the assessee.
FULL TEXT OF THE ORDER OF ITAT DELHI
The present appeal filed by the assessee for the assessment year 2009- 10 is directed against the order of Ld. CIT(A), Meerut dated 27.08.2014.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
