2014 (1) TMI 1531

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....om Smt. Seema Gupta who is also an existing assessee and had shown this amount in his statement of affairs filed along with her return of income filed by her. 2. The learned C.I.T appeal failed to appreciate the written submissions/arguments and copies of documents filed by the appellant. 3. That the learned C.I.T has not followed the principle of natural justice while deciding the appeal. 4. The learned C.I.T. appeal has wrongly applied the provisions of Section 68 of the Income Tax Act and wrongly applied the ratio of the judgement of the Calcutta High Court reported in I.T.R. 208 page 265 and Punjab & Haryana High Court reported in 140 I.T.R. page 149. 5. That the learned C.I.T. appeal had not allowed any opportunity to the t....

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....e appellant's counsel has referred to two court decisions in order to assert that the appellant had discharged the onus to prove the identity and creditworthiness of the creditor and the genuineness of the transaction. The AO had brought no evidence on record to prove the appellant wrong. I have gone through the facts of the case. Smt. Seema Gupta has deposited a large number of cash amounts between 10.4.2000 to 1.12.2000 in order to build up a balance of Rs.2,02,000 in her bank account. The loan of Rs.2,00,000 has been given on 1.12.2000 by issuing a cheque. There is no other withdrawal in this bank account. The explanation given by the appellant's counsel, and the hand written pages, stated to be her books of account, are not independentl....

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.... in accordance with law." 3. Pursuant to the above direction, the impugned order has been passed. A perusal of the same shows that to the notices sent no compliance was made by the assessee. The CIT(A) records these facts in paras 7, 8 & 9 and concludes that the assessee is not interested in prosecuting the appeal and the appeal can be dismissed at the outset. However thereafter he on considering the facts available on record confirmed the action of the AO. In the light of these peculiar facts and circumstances wherein Ld. AR has been petitioning for time in order to file Paper Book, admittedly the relevant facts have not been taken note of. Considering the plea raised in Ground No-3 and taking note of the fact that the impugned order wa....