TaxTMI 
TaxTMI 
2016 (11) TMI 1301
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....s under section 143(2) of the Income Tax Act, 1961 ( 'the Act') and notice under section 142(1) alongwith questionnaire calling for certain details were issued on 11/7/2011. According to the Assessing Officer, the assessee filed only some of the details called for but failed to submit the balance details required in spite of reminders issued to the assessee. In that view of the matter, the Assessing Officer noticed, from a perusal of the Balance Sheet of the assessee as on 31/3/2009, that unsecured loans amounting to Rs. 12,44,467/- was taken from three parties. Observing that the assessee had failed to file loan confirmations in this regard, the veracity of the loans could not be ascertained, held the same to be unascertained liability and....
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....unexplained liability and added back to the taxable income. On the other hand, the AR of the appellant has submitted that as per balance sheet it has shown unsecured loans of Rs. 12,44,467/- and photo copy of three confirmation letters were also filed along with its reply without any bank statement balance and other particulars. From the perusal of the submissions and facts, it is an undisputed fact that the AO has given a number of opportunities to the assessee to submit complete details and confirmations of unsecured loans of Rs. 12,44,467/- but the assessee has failed to submit confirmation before the A.O. Even during the appellate proceedings, the appellant has filed only photos copies of three confirmations which are without PAN nu....
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.... appellant prays leave to alter, amend or add any grounds or relief before or at the time of hearing the Appeal." 4. The case was fixed for hearings on atleast six occasions, but the case was either not heard on the request of the assessee for adjournment or none was present for on behalf of the assessee. On 25/8/2016 when the case was called for hearing, none was present for the assessee but the Ld. Departmental Representative was present and ready to argue the case. In the circumstances, as laid out above, we are of the considered opinion that the assessee is not interested in seriously pursuing this appeal and, therefore, proceed to dispose this appeal with the assistance of the Ld. Departmental Representative and the material on recor....
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....anding as on 31/3/2009 are outstanding in the assessee's books of account for a long time and are reflected in previous years balance sheets, which have been submitted to the Assessing Officer. In our considered view a perusal of the CIT(A)'s finding in the impugned order(supra) would clearly establish that the CIT(A) has not examined, verified or addressed the ground raised by the assessee and regrettably without any application of mind has parroted the finding of of the CIT(A). This finding in our view, is a travesty justice and in the facts and circumstances of the case as laid out above, the impugned order of the CIT(A) becomes unsustainable, as he has failed to examine and verify the contentions put forth by the assessee in the ground ....