INCOME TAX ACT, 1961

Section

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AO rejected assessee's books of account on account of some defects and made trading addition. However, Tribunal set aside the assessment order passed by the AO and remanded the matter to him for framing de novo assessment order. Aggrieved, assessee filed an appeal before High Court, wherein it pointed out as to whether under the garb of rejection of books of account, huge trading additions could be said to be legally justifiable when the defects pointed out were minor defects and no defect was pointed out in the opening stock, purchases, sales, closing stock and stock-register. Held: Even though the assessee addressed the High Court and cited number of judgments on merits, but in course of arguments it also produced copy of fresh assessment order passed in terms of the order of the Tribunal. In view of the same, it was not appropriate to decide the instant appeal on merits as the fresh assessment order had already been passed in which the assessee was having opportunity to participate in the proceedings and put its case before the AO. Hence, the instant appeal filed by the assessee was dismissed as having become infructuous.

REFERRED :

FAVOUR : Against the assessee

A.Y. :

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