2016 (5) TMI 398

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....aw:- "i) Whether in the facts and in the circumstances of the case, the orders partly (Annexure A.1), partly (Annexure A.2) and partly (Annexure A.3) are legally sustainable? ii) Whether on the facts and in the circumstances of the case, the learned Income Tax Appellate Tribunal is right in law in upholding the order of the Assessing Officer and CIT(A) Chandigarh with regard to the addition of Rs.  25,00,000/- under section 68 of the Income Tax Act. The appellant filed requisite details with regard to the unsecured loan before the ITAT through a paper book for consideration during appellate proceedings but the same have not been taken into consideration while passing the order by the Hon'ble ITAT? iii) Th....

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....The appellant never attended the proceedings as he was not well. No reply was filed by the assessee. While completing the assessment, the Assessing Officer made various additions and disallowances. According to the appellant, the additions made other than the addition of Rs.  25,00,000/- under Section 68 of the Act are not under challenge before this Court. Aggrieved by the order dated 29.12.2011, Annexure A.1 passed by the Assessing Officer, the assessee filed appeal before the Commissioner of Income tax (Appeals) [CIT(A)]. Vide order dated 29.10.2012, Annexure A.2, it was held that since the assessee had not been able to prove the source of cash credit of Rs.  25 lacs which was ostensibly received from Shri Ashok Bansal, the add....

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....g Officer asked the assessee to furnish documentary evidence regarding source of credit in the hands of Shri Ashok Bansal and also to explain whether he is assessed to tax. The assessee did not furnish any evidence regarding source of the deposit of this amount. Therefore, Assessing Officer made addition under section 68 of the Income Tax Act. Since no submissions have been made before learned CIT(Appeals), therefore, addition was confirmed and this ground of appeal of the assessee was dismissed. 13. We have heard learned representatives of both the parties. The learned counsel for the assessee has shown his inability to produce any evidence regarding source of deposit of Rs.  25 lacs by Shri Ashok Bansal with the assessee. It....