TaxTMI 
TaxTMI 
2016 (7) TMI 13
X X X X Extracts X X X X
X X X X Extracts X X X X
....ed the following grounds : "1. The impugned order of assessment is liable to set aside in so far as the same is illegal, unlawful, improper, irregular and opposed to law and facts and circumstances of the case. 2. The Learned Appellate Commissioner erred is upholding order of the Respondent Officer assessing the sum of Rs. 3,OO,OOOj- without appreciating the actual facts of the case and without taking cognizance of the declaration made by the Appellant under the VDIS u/s. 65 of the Finance Act, 1997 and as such the same is liable to set aside. 3. The Learned Appellate Commissioner erred is upholding order of the Respondent Officer assessing the total income of the Appellant for the A.Y.1996- 97 at Rs. 3,OO,OOOj- without giving credit for....
X X X X Extracts X X X X
X X X X Extracts X X X X
....id not furnish the details as called for and time limit for completion of assessment was going to expire on 31.3.2004. Accordingly, the Assessing Officer proceeded to complete the assessment ex-parte under Section 144 r.w.s. 147 of the Act. The Assessing Officer noted that on the basis of information available and as per the statement recorded under Section 131 by the DDIT, Pune dt.11.3.2004 in the central prison premises the assessee admitted the total income of Rs. 50,000 from the business of bricks. The Assessing Officer further noted that taking into consideration the assessee's household expenses and telephone expenses and investment in household goods, the income of the assessee was proposed to determine at Rs. 3 lakhs as business inc....
X X X X Extracts X X X X
X X X X Extracts X X X X
....then no addition can be made by estimating the business income of the assessee to the extent of the said declaration made. 5. On the other hand, the learned Departmental Representative has submitted that in the VDIS, the assessee has declared income in respect of the investment in the land, motor cycle and cash whereas the Assessing Officer has made the addition on account of the household expenditure and investment in the household goods. Thus the learned Departmental Representative has submitted that no credit can be given of the income declared in the VDIS when the addition made by the Assessing Officer is not in respect of the investment which is declared in the VDIS. 6. We have heard the rival submissions as well as considered the re....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... business of bricks. Taking into consideration, the assessee's household expenses and telephone expenditure and investment in house hold goods, the assessee was requested vide this office letter under Section 144 to file objections/explanation, if any to my proposal to determine his business income for the year under consideration at Rs. 3,00,000. The assessee has failed to furnish any objection / explanation to the said proposal. In the circumstances, taking into consideration assessee's own statement regarding his incomes for the AYs 1997-98 to 2000-01, the assessee's income from the business in brick is estimated at Rs. 3,00,000 for the A.Y. 1996- 97." As it is clear from the concluding part of the Assessing Officer that wh....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... In the facts and circumstances of the case and in view of the declaration of Rs. 3,20,000 as income under the VDIS, 1997 for the year under consideration, we delete the addition made by the Assessing Officer of Rs. 3 lakhs. 7. For the Assessment Year 1998-99, the assessee has raised the following grounds :- " 1. The impugned order of assessment is liable to set aside in so far as the same is illegal, unlawful, improper, irregular and opposed to law and facts and circumstances of the case. 2. The Learned Appellate Commissioner erred is upholding order of the Respondent Officer erred in adding a sum of Rs. 1,26,723/- (Rs.1,26,850) to income of the Appellant, the same being the alleged unexplained deposit made by the Appellant in to an B....