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of <h1>Tribunal upholds income determination, additions under IT Act, interest levy. Assessee's appeal dismissed.</h1> <h3>Meenu Ajay Pathak Versus Income Tax Officer Ward–32 (2) (3), Mumbai</h3> Meenu Ajay Pathak Versus Income Tax Officer Ward–32 (2) (3), Mumbai - TMI Issues Involved:1. Determination of total income.2. Opportunity of being heard.3. Addition under section 68 of the Income Tax Act.4. Ad-hoc addition under section 69C.5. Levy of interest under sections 234A, 234B, and 234C.Summary:Issue 1: Determination of Total IncomeThe assessee challenged the order determining the total income at Rs. 1,05,45,670 as against the returned income of Rs. 14,60,990. The Tribunal upheld the order of the CIT(A), finding no merit in the assessee's arguments.Issue 2: Opportunity of Being HeardThe assessee contended that the appellate order was passed without providing an appropriate opportunity of being heard. The Tribunal noted that multiple written submissions were filed by the assessee, and the conditional request for a hearing was not made in lieu of these submissions. Therefore, it was held that there was no violation of the principles of natural justice.Issue 3: Addition under Section 68The CIT(A) upheld the AO's addition of Rs. 89,06,550 by treating long-term capital gains as unexplained cash credit. The Tribunal found that the AO conducted a thorough investigation, including examining the company whose shares were purchased and the identity of the purchasers, who were found to be closely related to a known entry operator. The Tribunal dismissed the assessee's contention that sufficient time was not granted for cross-examination, noting that the same statement of the entry operator was relied upon in both the assessment years, and no new evidence was provided.Issue 4: Ad-hoc Addition under Section 69CThe CIT(A) confirmed the AO's ad-hoc addition of Rs. 1,78,131 under section 69C, treating it as commission paid for availing accommodation entries. The Tribunal upheld this addition, noting the lack of corroborative evidence from the assessee to refute the AO's findings.Issue 5: Levy of Interest under Sections 234A, 234B, and 234CThe Tribunal dismissed the ground related to the levy of interest under sections 234A, 234B, and 234C as consequential.Conclusion:The appeal by the assessee was dismissed, with the Tribunal finding no merit in the grounds raised. The order was pronounced in the open court on 18/07/2023.
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