2014 (3) TMI 290

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....ed to decide these appeals after hearing Ld. DR. 3. ITA No. 861/Ahd/2011 is against quantum addition being confirmed by Ld. CIT(A) vide his order dated 6th January, 2011 and ITA No. 862/Ahd/2011 is against penalty imposed by AO under section 271(1)(c) on such addition, which has been confirmed by Ld. CIT(A) vide its order dated 19-01-2011. First we will take up ITA No. 861/Ahd/2011 4. The assessee has taken following grounds of appeal:- "11. Thai the learned Commissioner of Income Tax (Appeals), Surat grossly erred in dismissing the appeal without appreciation the facts of adjournment. 2. The appellant is in very bad financial crisis and three criminal cases for cheque returned has already been done by the parties and no busi....

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....re filed by the assessee in support of his claim that creditors were having source of advancing these advances to him. AO however was not satisfied with the explanation/documents furnished by the assessee in support of his claim that sum of Rs. 10,18,560/- was received by assessee from these creditors and therefore he added this amount to the income of the assessee. Interest paid by the assessee to these persons amounting to Rs. 54,60/- was also disallowed and added to the total income of the assessee. The total disallowance therefore worked out to Rs. 10,24,020/-. 7. Assessee carried this matter to the Ld. CIT(A) who after giving opportunity to the assessee dismissed the appeal of the assessee by passing an ex-parte order as assessee di....