TaxTMI 
TaxTMI 
2015 (1) TMI 153
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....ncome u/s. 144 of the I.T. Act. The appellant was unable to attend the proceedings before the Ld. A.O. as well as the Ld. CIT(A)-III and produce the books of accounts etc. on account of the fact of disruption of the Company's business, litigations etc. The appellant company's accounts are duly audited under the Companies Act. The books are regularly maintained and, therefore, its non-production before the authorities for the reasons stated herein above cannot lead to a presumption that no books of accounts are available. Thus, the appellant be granted a further opportunity for producing the books of accounts and the relevant submissions and it may please be held that the invocation of the provisions of sec. 144 are unjustified and b....
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....x (Appeals)-III, Baroda has erred in law and in facts in upholding the action of the Ld. A.O. in the addition of Rs. 29,09,500/- received as share application money u/s. 68 of the I.T. Act. The addition being illegal and unwarranted is prayed to be deleted. The disallowance of Rs. 29,09,500/- as confirmed by the Ld. CIT(A) is in complete disregard of the law and facts and, therefore, deserves to be allowed. 5. The Ld. Commissioner of Income Tax (Appeals)-III, Baroda has erred in law and in facts in upholding the action of the Ld. A.O. in the addition of Rs. 96,110/- received as unsecured loan from Shri Samir Desai (Rs.90,000/-) and from Shri B. J. Shah (Rs.6,110/-). The Ld. A.O. ought to have appreciated the fact that Shri Samir Desai an....
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....mount of current liabilities on account of unpaid professional tax and TDS u/s. 43B of the Act. The addition is confirmed by the Ld. CIT (A) without any specific discussion in the appellate order. The addition being illegal and unwarranted is prayed to be deleted. 10. The Ld. Commissioner of Income Tax (Appeals)-III, Baroda has erred in law and in facts in upholding the action of the Ld. A.O. in upholding the addition of Rs. 60,16,408/- being the amount of creditors disclosed in the accounts (net of creditors shown in the preceding year) which has been held to be unexplained and bogus. The addition being illegal and unwarranted is prayed to be deleted. 11. The Ld. Commissioner of Income Tax (Appeals)-III has erred in law and in facts ....
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.... books of accounts as audited could not have been disallowed in an ad hoc and arbitrary manner. The disallowance being unjustified and unwarranted deserves to be deleted. 15. The Ld. Commissioner of Income Tax (Appeals)-III, Baroda has erred in law and in facts in making further disallowance of the amount of Rs. 1,46,846/- being the provisions created as unsubstantiated. The provisions being duly accounted in the books of accounts as audited could not have been disallowed in an ad hoc and arbitrary manner. The disallowance being unjustified and unwarranted deserves to be deleted. 16. The Ld. Commissioner of Income Tax (Appeals)-III, Baroda has erred in law and in facts in making further disallowance of the amount of Rs. 5,57,834/- bei....
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....Rs. 25,00,000/- out of such venture which is added to the income. The entire observations and findings of the Ld. CIT(A) are without any basis in law and in facts and therefore deserves to be cancelled and that the addition so made is also prayed to be deleted. 20. Your appellant craves liberty to add, alter, delete or substitute any of the grounds of appeal herein above contained." 2. At the outset, the AR of the assessee submitted that it will be observed that the assessment was framed by the Assessing Officer u/s 144 of the Act due to non-appearance of the assessee before him on the date fixed for hearing. He further submitted that it will be observed from the order of the CIT(A) also that the order is passed by the CIT(A) ex-parte....