SKYWAY CONCRETES, MUMBAI V. ACIT WD 25(3), MUMBAI

ITA 2916/MUM/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 3856 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-05-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2008-2009
• Appeal Filed On: 30-04-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIJAY KOTHARI
• Section: 142(1); 131; 145; 144

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, M UMBAI BEFORE S/SHRI B.R.MITTAL,(JM) AND D.KARUNAKARA RAO (AM) . . , . ! , '# '# '# '# ' '' ' $ $$ $ % %% % ./I.T.A. NO.2916/M/2012 ( ' % / ASSESSMENT YEAR:2008-09) M/S. SKYWAY CONCRETES, D-1, TAPOVAN, R.S.MARG, PATHANWADI, MALAD (E), MUMBAI. ' ' ' ' / VS. ACIT, WARD 25(3), MUMBAI ( '# ./ )* ./PAN/GIR NO. : AAYFS 5202 J ( (+ / APPELLANT) .. ( ,-(+ / RESPONDENT) (+ . ' / APPELLANT BY : SHRI VIJAY KOTHARI ,-(+ / . ' /RESPONDENT BY: SHRI MANOJ KUMAR ' / 0# / DATE OF HEARING : 16.5.2013 12% / 0# /DATE OF PRONOUNCEMENT : 16.5.2013 '3 / O R D E R PER B.R.MITTAL, JM: THE ASSESSEE HAS FILED THIS APPEAL FOR ASSESSMENT YEAR 2008-09 AGAINST ORDER DATED 01.2.2012 OF LD CIT(A) DISPUTING CONFIRMATION OF ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 144 OF THE ACT AFTE R REJECTING BOOKS OF ACCOUNT OF THE ASSESSEE AND ESTIMATING THE NET PROFIT @ 5% AS PER PROVISIONS OF SECTION 145(3) OF THE ACT. 2. THE RELEVANT FACTS GIVING RISE TO THIS APPEAL AR E THAT ASSESSEE IS A PARTNERSHIP FIRM AND IS ENGAGED IN THE BUSINESS OF MANUFACTURIN G, SUPPLYING, LAYING AND FIXING OF READY MIX CONCRETE. FOR THE ASSESSMENT YEAR UNDER CONSIDERATION, ASSESSEE FILED THE RETURN OF INCOME ON 29.9.2008 DECLARING TOTAL INCOM E OF RS.15,82,073/- ON TOTAL TURNOVER OF RS.18,17,11,228. THE CASE OF THE ASSES SEE WAS SELECTED FOR SCRUTINY BY ISSUING NOTICE U/S.143(2) OF THE ACT ON 24.9.2009. THE SAID NOTICE WAS RETURNED I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 2 UNSERVED BY THE POSTAL AUTHORITIES WITH THE REMARK LEFT . THEREAFTER, NOTICE SERVER WAS DEPUTED TO SERVE THE NOTICE U/S.143(2) OF THE ACT. HOWEVER, THE NOTICE SERVER VIDE HIS REPORT DATED 29.9.2009 SUBMITTED THAT THE PARTY HAD LEFT THE PREMISES. AO DEPUTED THE INSPECTOR TO TRACE OUT WHEREABOUTS OF THE ASSESSEE AND TO SERVE THE NOTICE U/S 143(2) OF THE I.T.ACT-1961. THE WARD INSPECTOR ALSO SUBMIT TED THAT THE PREMISE MENTIONED IN THE NOTICE WAS LOCKED AND EVEN LOCAL ENQUIRIES ALSO DID NOT REVEAL THE WHEREABOUTS OF THE ASSESSEE. HENCE THE NOTICE U/S 143(2) OF THE I. T.ACT-1961 WAS SERVED BY WAY OF AFFIXTURE. AO STATED THAT IN RESPONSE TO THE SAI D NOTICE, NOBODY HAD ATTENDED ON THE APPOINTED DATE. THEREAFTER, A NOTICE U/S 142(1) OF THE I.T.ACT-1961, DATED 30.06.2010 ALONG WITH A DETAILED QUESTIONNAIRE WAS ISSUED TO T HE ASSESSEE. THE SAID NOTICE WAS RETURNED UN-SERVED BY THE POSTAL AUTHORITIES. AO IN PARA 2.1 HAS MENTIONED THAT ASSESSEE WAS AFFORDED WITH THE FOLLOWING OPPORTUNI TIES, THE DETAILS OF WHICH ARE AS UNDER: 3. AO HAS STATED THAT IN SPITE OF GIVING VARIOUS OP PORTUNITIES TO THE ASSESSEE, ASSESSEE DID NOT COMPLY EVEN ON A SINGLE OCCASION E XCEPT FILING ADJOURNMENT AND PART DETAILS ON A SINGLE OCCASION. AO VIDE OFFICE LETTE R DATED 29.11.2010 ASKED THE ASSESSEE TO FURNISH CERTAIN DETAILS IN SUPPORT OF ITS RETURN OF INCOME FILED FOR THE YEAR UNDER I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 3 CONSIDERATION. THE RELEVANT PORTION OF THE SAID LET TER HAS BEEN STATED BY THE AO AT PAGES 3 & 4 OF THE ASSESSMENT ORDER, WHICH READ AS UNDER: (I) PERUSAL OF YOUR BALANCE SHEET REVEALS THAT THE RE ARE INTERESTS BEARING FUNDS OF RS.3. 70 CRORES. YOU ARE REQUESTED PROVE WITH DO CUMENTARY EVIDENCES THAT THESE FUNDS HAVE THROUGHOUT THE YEAR BEEN UTILIZED FOR YOUR BUSINESS PURPOSES. (II) THERE ARE SUNDRY CREDITORS AMOUNTING TO RS.2.5 0 CRORES AS PER THE BALANCE SHEET. IN THIS CONNECTION, YOU ARE REQUESTED TO FUR NISH DETAILS AS UNDER: (A) NAME AND COMPLETE ADDRESS OF THE CREDITORS, OPE NING BALANCE, ADDITION DURING THE YEAR, PAYMENT MADE DURING YEAR AND CLOSING BALANCE. FURTHER, PAN OF ALL THESE CREDITORS ALONG WITH THEI R ADDRESS AND DETAILS OF AO WHERE THEY ARE FILING THEIR RETURN OF INCOMES MA Y ALSO BE FURNISHED. (B) FROM THE P & L A/C, IT IS SEEN THAT ON THE TOTA L TURNOVER OF RS.18.46, THE NET PROFIT SHOWN IS 0.17 CRORES (I.E. RS.17 LAK HS APPROX.) FROM WHICH NET PROFIT RATIOS WORKS OUT TO 0.92% ONLY WHICH IS VERY LOW IN THE LINE YOUR BUSINESS. YOU ARE THEREFORE, REQUESTED TO GIVE COMPARATIVE CHART OF THE NET PROFIT OF THE YEAR UNDER CONSIDERATION WITH THE LAST THREE PRECEDING YEARS ALONG WITH REASONS FOR VARIATION WI TH DOCUMENTARY EVIDENCES. (III) YOU ARE REQUESTED TO GIVE COMPARATIVE CHART O F MAJOR EXPENSES OF THIS YEAR IN COMPARISON TO THE LAST THREE YEARS ALONG WITH TH E REASONS FOR VARIATIONS, IF ANY WITH DOCUMENTARY EVIDENCES. (IV) IT IS SEEN FROM THE P & L A/C FOR THE YEAR UND ER CONSIDERATION THAT YOU HAVE MADE CEMENT SALES, CHEMICAL SALES, FLYASH SALES, SA ND SALES AND OTHER SALES SHOWN AS TAXABLE VAT @5% & 12.5% ETC. PLEASE STATE WHETHER YOU ARE TRADER IN THESE ITEMS. IF IT IS SO PLEASE GIVE YOUR SALES TAX / VAT NO. AND ALSO FURNISH NAME & COMPLETE ADDRESSES OF THE PARTIES TO WHOM TH ESE SALES HAVE BEEN MADE. (V) PLEASE ALSO INFORM IF ANY OF THE SALES MENTIONE D IN POINT NO.(IV) OF ABOVE IS MADE TO ANY OF YOUR SISTER CONCERNS OR TO THE PERSO NS SPECIFIED U/S 40A(2)(B) OF THE IT.ACT,1961. IF SO, PLEASE FURNISH JUSTIFICATIO N OF THE RATES ON WHICH THESE SALES HAVE BEEN MADE TO THE SISTERS CONCERNS OR TO THE PERSONS SPECIFIED U/S 40A(2)(B) ALONG WITH THE REASONS FOR MAKING SUCH SA LES. (VI) IN CASE OF SALES MADE TO THE SISTERS CONCERNS OR PERSONS SPECIFIED U/S 40A(2)(B) AS MENTIONED IN POINT NOS. (III) & (IV) O F ABOVE, YOU ARE REQUESTED TO FURNISH COPIES OF AUDITED ACCOUNTS AND THEIR RETURN S OF INCOME FILED FOR THE YEAR UNDER CONSIDERATION I.E. A. Y.2008-09. I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 4 (VII) PLEASE FURNISH A CHART OF COST PRICE AND SALE PRICE OF ALL THE ITEMS SOLD BY YOU AS SUCH. IN CASE OF SALES HAVING BEEN MADE AT A RAT E LOWER THAN THE COST PRICE, PLEASE FURNISH DETAILED REASONS FOR THE SAME. (VIII) IT IS FURTHER SEEN FROM THE BALANCE SHEET TH AT YOU HAVE GIVEN INTEREST FREE LOANS / ADVANCES OF RS.2.26 CRORES. PLEASE FURNISH COMPLETE DETAILS WITH REGARD TO THESE INTEREST FREE LOANS ALONG WITH THE REASONS FO R GIVING SUCH INTEREST FREE LOANS / ADVANCES AS YOU ARE PAYING HUGE INTEREST ON THE BORROWED FUNDS. PLEASE ALSO SHOW CAUSE WHY THE PROPORTIONATE DISALLOWANCE OF THE INTEREST PAID BY YOU MAY NOT BE MADE AS APPARENTLY INTEREST BEARING FUND S HAVE BEEN DIVERTED / UTILIZED FOR ADVANCING INTEREST FREE LOANS. 4. AO HAS STATED THAT EVEN IN RESPONSE TO THIS NOTI CE ALSO ON THE APPOINTED DATE I.E. 06.12.2010, NEITHER ANYBODY HAS ATTENDED NOR ANY DE TAILS AS CALLED FOR HAVE BEEN FILED EVEN THOUGH IN THE SAID NOTICE IT WAS CLEARLY MENTI ONED THAT IN CASE OF NON-COMPLIANCE, ASSESSMENT WOULD BE COMPLETED ON THE BASIS OF MATER IAL AVAILABLE ON RECORD. AO HAS FURTHER STATED THAT WITHOUT PREJUDICE TO ABOVE, A S UMMONS U/S 131 OF THE I.T.ACT, 1961 DATED 15.12.2010 WAS ISSUED IN THE NAME OF ONE OF T HE PARTNERS OF THE ASSESSEE FIRM I.E. SHRI BALVINDER SINGH KOHLI AND THE SAME WERE SERVED ON 16.12.2010. EVEN ON THE DATE OF COMPLIANCE ALSO NEITHER ANYBODY ATTENDED NO R ANY DETAILS AS CALLED FOR HAVE BEEN FILED. AO ISSUED ANOTHER SUMMONS U/S 131 OF THE I.T.ACT,1961, DATED 22.12.2010, WHICH WAS SERVED ON THE ASSESSEE ON 22.12.2010, WH EREBY PERSONAL ATTENDANCE OF THE ASSESSEE WAS REQUIRED ON 24.12.2010. AO HAS STATED THAT ON 24.12.2010, SHRI BALVINER SINGH KOHLI, PARTNER OF THE ASSESSEE FIRM ALONG WIT H SHRI LEELADHAR PANSANIA ATTENDED AND FILED PART DETAILS AS PER HIS LETTER DATED 23.1 2.2010. AO HAS STATED THAT ASSESSEE WAS SPECIFICALLY REQUIRED TO PRODUCE ALL THE BOOKS OF ACCOUNTS, BILLS, VOUCHERS ETC. IN SUPPORT OF THE RETURN OF INCOME FLIED. HOWEVER, IN RESPONSE THERETO, ASSESSEE FAILED TO PRODUCE ANY THE BOOKS OF ACCOUNTS, BILLS, AND VOUCH ERS AS CALLED FOR. THAT ASSESSEE WAS ALSO INFORMED VIDE ORDER SHEET NOTING DATED 24.12 .20 10, THAT THE DETAILS FURNISHED WERE NOT COMPLETE DETAILS AS CALLED FOR. IT WAS ALS O INFORMED TO THE ASSESSEE THAT SINCE THE CASE WAS TIME BARRING AS ON 31.12.2010, NO FURT HER ADJOURNMENT WOULD BE GIVEN AND ASSESSEE WAS REQUIRED TO FURNISH ALL THE PENDIN G DETAILS AS CALLED FOR EARLIER. THE CASE WAS ADJOURNED TO 27.12.2010. AO HAS STATED TH AT ON 27.12.2010, THE AR OF THE ASSESSEE FURNISHED ONLY PART REPLIES, BUT BOOKS OF ACCOUNTS, VOUCHERS, BILLS ETC. WERE NOT PRODUCED. THE CASE WAS ADJOURNED TO 28.12.2010 ON REQUEST OF ASSESSEES AR BUT ON THE APPOINTED DATE I.E. 28.12.2010, THERE WAS NO CO MPLIANCE WHATSOEVER FROM THE I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 5 ASSESSEES SIDE. AO HAS STATED THAT ON 29.12.2010, SHRI LILADHAR PANSANIA, ACCOUNTANT OF THE ASSESSEE FIRM ATTENDED AND FURNISHED REPLIES VIDE TWO LETTERS, BOTH DATED 29.12.2010. AO HAS STATED THAT ASSESSEE FAILED TO PRODUCE BOOKS OF ACCOUNT IN SPITE OF GIVING VARIOUS OPPORTUNITIES AND ALSO WAS INFORMED THAT NO RELIANCE COULD BE PLACED ON THE DETAILS SUBMITTED AS SAME COULD NOT BE VERIFIED . 5. IN VIEW OF ABOVE, AO WAS LEFT WITH NO ALTERNATIV E BUT TO CONCLUDE THAT ASSESSEE DID NOT MAINTAIN ANY BOOKS OF ACCOUNTS OR DID NOT M AINTAIN THE SAME AS PER ACCOUNTING STANDARD AND, THEREFORE, ASSESSEE INTENTIONALLY TRY ING TO SAVE ITSELF FROM THE WARMTH OF FURTHER INVESTIGATION/CROSS-VERIFICATION. AO CONCL UDED THAT HE WAS NOT SATISFIED ABOUT THE CORRECTNESS AND COMPLETENESS OF THE ACCOUNTS OF THE ASSESSEE AND REJECTED THE BOOKS OF ACCOUNT OF THE ASSESSEE AS PER SECTION 145 (3) OF THE ACT AND COMPLETED THE ASSESSMENT BY ESTIMATING THE NET PROFIT @ 5% ON THE TOTAL TURNOVER OF RS.18,17,11,228, WHICH WORKS OUT TO RS.90,98,768 AS AGAINST NET PROF IT OF RS.15,82,073 RETURNED BY THE ASSESSEE. BEING AGGRIEVED, ASSESSEE FILED APPEAL B EFORE LD CIT(A). 6. LD CIT(A) AFTER CONSIDERING THE SUBMISSIONS OF A SSESSEE HAS UPHELD THE ACTION OF THE AO VIDE PARAS 6.1 AND 6.2 OF THE IMPUGNED ORDER , WHICH ARE AS UNDER: 6.1 I HAVE CONSIDERED THE APPELLANTS SUBMISSION, AS INDICATED ABOVE WELL AS THE STAND OF THE A.O. IN THE ASSESSMENT ORDER. I FIND T HAT A.O. VIDE PARA 2.4 HAS ALREADY CONSIDERED THE APPELLANTS SUBMISSION DATED 23.12.2010. HOWEVER, AS PER PARA 2.6 OF THE ASSESSMENT ORDER IT IS SEEN THA T THE LD. A.O. HAD MADE IT CLEAR TO THE APPELLANT VIDE HIS ORDER SHEET NOTING DATED 24.12.2010 THAT THE CASE WAS TIME-BARRING AND NO LONG ADJOURNMENT COULD BE G IVEN AND THE CASE WAS ADJOURNED ON 27.12.2010. AS PER THE ASSESSMENT ORD ER ON 27.12.2010, THE A.R.OF THE ASSESSEE FURNISHED ONLY PART RELIES, BUT BOOKS OF ACCOUNTS, VOUCHERS, BILLS, ETC, WERE NOT PRODUCED. SIMILARLY, AS PER A SSESSMENT ORDER, IT IS FOUND THAT NONE ATTENDED THE CASE ON THE STIPULATED DATED I.E. 28.12.2010. AS PER PARA 2.8 OF THE ASSESSMENT ORDER, ON 29.112010, THE LD.A.R. SHRI LEELADHAR PANCHARIA, FURNISHED TWO LETTERS DATED 29.12.2010 BUT AS PER T HE A.O. THESE LETTERS DID NOT PROVIDE THE COMPLETE DETAILS AND EVIDENCES WHICH TH E APPELLANT WAS OBLIGED TO COMPLY VIDE A.OS QUERIES DATED 24.12.2010. 6.2. THUS IT IS FOUND THAT THIS IS A CASE WHERE THE APPELLANT HAS TIME BARRING DATE AND SUPPLIED HALF BAKED INFORMATION TO THE A.O. I H AVE ALSO GIVEN A THOUGHT WHETHER IT COULD BE A CASE WHERE THE MATTER CAN BE REMANDED BACK TO THE FILE OF THE A.O. BUT CAME TO A CONCLUSION THAT GOING BY THE CONDUCT OF THE APPELLANT AS WELL AS THE SINCERE EFFORTS OF THE LD. A.O. DURING THE ASSESSMENT STAGE, IT MAY NOT BE A FRUITFUL EXERCISE. EVEN OTHERWISE NO FORMA L REQUEST HAS BEEN MADE BY I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 6 THE LD.A.R. TO REMAND THE MATTER TO THE FILE OF THE A.O.. UNDER THE CIRCUMSTANCES, I DO NOT FIND ANY REASON TO MAKE ANY INTERVENTION OR MODIFICATION IN THE ASSESSMENT ORDER ON TECHNICALITY AS WELL AS ON MERIT. THE LD. A.O. HAS ALREADY GIVEN ENOUGH OPPORTUNITY TO THE APPELLANT A ND HAS FRAMED ASSESSMENT ON THE BASIS OF MATERIALS SUBMITTED BY THE LD.A.R. EVEN AT THE FAG END OF THE TIME BARRING DATE. THE A.O. HAS GIVEN REASONING FOR MAKING ESTIMATION OF THE NET PROFIT. ACCORDINGLY, I UPHOLD THE ADDITION MADE BY THE A.O. 7. HENCE, ASSESSEE IS IN FURTHER APPEAL BEFORE THE TRIBUNAL. 8. ON BEHALF OF ASSESSEE, IT WAS CONTENDED THAT ASS ESSEE VIDE ITS LETTER DATED 11.11.2010 FILED REQUISITE DETAILS AND REFERRED PAG ES 30 & 31 OF PB, WHICH IS A COPY OF THE SAID LETTER AND SUBMITTED THAT ANNEXURES ENCLOS ED THERETO ARE ENCLOSED FROM PAGES 32 TO 71 OF PB. HE SUBMITTED THAT FURTHER INFORMAT ION WERE ALSO SUBMITTED TO THE AO VIDE LETTERS DT.23.12.2010, 27.10.2010 AND 29.12.20 10, COPY OF WHICH ARE PLACED AT PAGES 72, 101 & 227 OF PB, RESPECTIVELY. IN REPLY TO A QUERY FROM THE BENCH, LD A.R. CONCEDED THAT BOOKS OF ACCOUNT WERE NOT FURNISHED B EFORE THE AO. HOWEVER, LD A.R. SUBMITTED THAT EVEN IF THE BOOKS OF ACCOUNT ARE REJ ECTED AND INCOME IS ASSESSED ON ESTIMATE BASIS, IT SHOULD BE REASONABLE. HE REFERR ED PAGE 259 OF PB WHICH CONTAINS CHART GIVING TURNOVER, GROSS PROFIT AND NET PROFIT FROM ASSESSMENT YEARS 2006-07 TO 2008-09 AND SUBMITTED THAT THE HIGHEST NET PROFIT H AS BEEN DISCLOSED BY THE ASSESSEE AT 1.02% IN A.Y. 2006-07, WHICH WAS ACCEPTED BY THE DE PARTMENT IN ASSESSMENT COMPLETED U/S.143(3) OF THE ACT. LD A.R. FURTHER S UBMITTED THAT MATTER COULD BE RESTORED TO THE FILE OF AO. 9. LD D.R. ON THE OTHER HAND, SUPPORTED THE ORDERS OF AUTHORITIES BELOW AND SUBMITTED THAT ASSESSEE COULD NOT FURNISH DETAILS A S CALLED FOR BY THE AO BY GIVING VARIOUS OPPORTUNITIES. LD D.R. SUBMITTED THAT THE NET PROFIT AS ESTIMATED BY THE AO AT 5% OF THE TOTAL TURNOVER IN SUCH TYPE OF BUSINESS I S FAIR AND REASONABLE. 10. DURING THE COURSE OF HEARING, LD A.R. SUBMITTED THAT IF THE MATTER IS RESTORED TO THE FILE OF AO, ASSESSEE WILL FURNISH REQUISITE DET AILS AS MAY BE REQUIRED BY THE AO. TO ABOVE SUGGESTION OF LD A.R. THE BENCH RAISED A QUER Y THAT ASSESSEE WAS NON-COOPERATIVE AND TOOK THE DEPARTMENT OFFICIALLY FOR A RIDE BY NO T FURNISHING THE REQUISITE DETAILS, WHY ASSESSEE SHOULD NOT COMPENSATE THE DEPARTMENT IF TH E MATTER IS RESTORED TO THE FILE OF AO, IN THE INTEREST OF JUSTICE, FOR MAKING THE FRES H ASSESSMENT. LD A.R. CONCEDED THAT A I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 7 REASONABLE COST MAY BE IMPOSED ON THE ASSESSEE ON A CCOUNT OF ITS CONDUCT FOR NOT FURNISHING REQUISITE DETAILS AT THE TIME OF MAKING THE ASSESSMENT. LD D.R. SUBMITTED THAT HE HAS NO OBJECTION IN RESTORING THE MATTER TO THE FILE OF AO FOR MAKING THE FRESH ASSESSMENT PROVIDED ASSESSEE UNDERTAKES TO COOPERAT E THE AO AND THE DEPARTMENT IS COMPENSATED BY FIXING ATLEAST A COST OF RS.25,000/- FOR NOT COOPERATING TO THE AO. LD A.R. AGREED TO ABOVE SUGGESTION OF LD D.R. AND ALSO SUBMITTED THAT ASSESSEE WILL COMPLY TO THE NOTICES OF THE AO AND WILL FURNISH REQUISITE DETAILS. HE FURTHER SUBMITTED THAT ASSESSEE WILL ALSO PAY COST TO THE DEPARTMENT AS MA Y BE LEVIED BY THE TRIBUNAL. 11. CONSIDERING ABOVE SUBMISSIONS OF LD REPRESENTAT IVES OF BOTH PARTIES AND THE FACTS OF THE CASE, WE ARE OF THE CONSIDERED VIEW THAT IN THE INTEREST OF JUSTICE, ORDERS OF AUTHORITIES BELOW BE SET ASIDE AND MATTER BE RESTOR ED TO AO WITH A DIRECTION TO MAKE FRESH ASSESSMENT ORDER AFTER CONSIDERING SUCH MATER IAL AS MAY BE PRODUCED BY THE ASSESSEE BEFORE HIM AND AFTER GIVING DUE OPPORTUNIT Y OF HEARING TO THE ASSESSEE. AO WILL PASS A REASONED ORDER. ASSESSEE WILL ALSO PAY COST OF RS.25,000/- TO THE DEPARTMENT WITHIN A PERIOD OF 30 DAYS FROM TODAY, AS AGREED TO BY LD A.R. ASSESSEE WILL ALSO CO- OPERATE THE AO AND WE MAY STATE THAT IF THE ASSESSE E DOES NOT FURNISH REQUISITE DETAILS BEFORE THE AO, AS MAY BE REQUIRED BY THE AO, AO WIL L PASS ASSESSMENT ORDER ON THE BASIS OF MATERIAL BEFORE HIM IN ACCORDANCE WITH LAW . SUBJECT TO ABOVE, GROUNDS OF APPEAL TAKEN BY ASSESSEE ARE ALLOWED FOR STATISTICA L PURPOSES. 12. IN THE RESULT, APPEAL FILED BY ASSESSEE IS ALLO WED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 16TH MAY , 2013 . '3 / 12% #' 4 5'6 16 TH MAY , 2013 2 / 7 SD/- SD/- ( . ! /D.KARUNAKARA RAO ) ( . . /B.R.MITTAL) '# / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; 5' DATED 16 / 05/2013 . ' . ./ PARIDA , SR. PS I.T.A. NO.2916/M/2012 ASSESSMENT YEAR:2008-09 8 '3 '3 '3 '3 / // / ,0A ,0A ,0A ,0A B'A%0 B'A%0 B'A%0 B'A%0 / COPY OF THE ORDER FORWARDED TO : 1. (+ / THE APPELLANT 2. ,-(+ / THE RESPONDENT. 3. C ( ) / THE CIT(A)- 4. C / CIT 5. AD7 ,0' , , / DR, ITAT, MUMBAI 6. 7 E / GUARD FILE. '3' / BY ORDER, -A0 -A0 -A0 -A0 ,0 ,0,0 ,0 //TRUE COPY// F ) (ASSTT. REGISTRAR) , / ITAT, MUMBAI