2014 (6) TMI 634

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....olding the order of the ld. A.O. in considering unexplained investment in house propriety thus upholding addition of Rs. 478750/- u/s. 69 of the Act." 3. At the time of hearing none appeared on behalf of the assessee despite the that fact that notice for today's hearing was sent to him. No application for adjournment was also filed by the assessee. So, we proceeded to decide the appeal after hearing ld. DR. 4. Brief facts of the case are that assessee's case was re-opened on the basis of statement of builder recorded in the course of search conducted on 27-03-92 at the premises of M/s. Desai Brothers and Associates. The notice u/s. 148 was issued to examine the chargeability of income of Rs. 14,60,000/- (inclusive of on money of Rs. 4....

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....4,60,000/-. 5. When matter travelled to first appellate authority, the Ld. CIT(A) deleted the addition made on account of on money vide his order dated 09-11-2002. Revenue filed appeal before Hon'ble ITAT, Ahmedabad, the Hon'ble ITAT restored the matter back to the file of AO for adjudication after affording opportunity to the assessee and Hon'ble ITAT also mentioned that in case assessee fails to avail the opportunity as it did in the original proceedings by not attending the summons, AO shall be at liberty to draw the inference as permissible in law. 6. In pursuance to the above directions of Hon'ble ITAT notice u/s. 143(2) and 143(1) dated 19-10-2007 were issued by AO by RPAD to the assessee at the last known address which was retu....

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.... has also not complied with the notices issued u/s 142(1) of the I. T. Act., assessment requires to be finalized u/s. 144 of the I.T. Act as per proviso provided below the Sec. 144(1) of the I. T. Act, 1961. Further, the issue of payment of 'on-money' which was considered and added to the income of the assessee as unexplained investment made by the assessee for the acquisition of property of bungalow no, 11, Tulip Bunglow Scheme' u/s.69 of the I. T. Act by then ITO, Wd.2(6), Ahmedabad requires no modification. 9. Keeping in view the above facts, I find no interference with the issue of payment of 'on money' of Rs.4,78,750/-, decided in assessment, finalized under the order u/s.l43(3) rws 147 of the I, T. Act 1961 on 2....

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..... also telephonically confirmed to appear in the case. However, all along nobody attended or submitted any contentions on behalf of the assessee. Similar is the position before the CIT(A) as assessee has kept on seeking adjournments repeatedly i.e. on 28/11/08, 22/12/2008, 3/3/2010, 25/3/2010 and 21/6/2010 and nobody has attended to notices dated 9/8/2010 fixing the hearing on 25/8/2010, In above circumstances, it is apparent that assessee has nothing more to say except that stated in the statement of facts and as per record. In statement of facts it is stated that he has purchased the house in FY 2003- 04 while the search in the case of the developer i.e. M/s. Desai Brothers and Associates was conducted on 27/3/1992 in which various incrim....