2017 (3) TMI 384

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.... on facts in confirming the action of AO in making addition of Rs. 20,13,530/- on account of Unexplained Money u/s.69A of The Income Tax Act, 1961. 2. Both the lower authorities have passed the orders without properly appreciating the fact and that they further erred in grossly ignoring various submissions, explanations and information submitted by the4 appellant from time to time which ought to have been considered before passing the impugned order. This action of the lower authorities is in clear breach of law and Principles of Natural Justice and therefore deserves to b e quashed. 3. The ld.CIT(A) has erred in law and on facts in confirming the action of ld.AO in charging interest u/s.234B/C/D of the Act. 4. The ld.CIT(A) has er....

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....rnished before AO, he made addition of Rs. 20,13,5307- u/s. 69A. 5. Appellant filed his written submissions in which he argued that "I. Assessee's account is small and easy to maintain and do not involve complexity of any kind, so assessee normally maintains his accounts by hiring part time accountant at the end of the year. In case of assessment year 2008-09 assessee maintained the accounts in the same way. When his case was selected for scrutiny and notice for the same was received by the assessee, he sent it directly to the accountant as he was not able to understand technical matters of the paper from I. T. Department and also ignorant of how to deal with the case. Whenever any notice-came from I.T. department he used to....

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.... A. 3. As per point no. 7.1 of Assessment Order u/s 144 dated 16712/2010, The respected Assessing Officer has considered the cash deposits of Rs. 20,73,530/- as investments in bonds/debenture. Copy of Kotak Mahindra Bank statement for the year 2007-08 is enclosed herewith as per annexure B. Bank statement in original is also provided herewith for your kind perusal. 4. As per Point No. 5 & 6 of Assessment Order u/s 144 dated 16/12/2010, The respected Assessing Officer has disallowed Dalali Exp, Telephone Exp, Petrol Exp, and Shop exp of Rs. 5004/-, 8410/-, 2552/-, 2450/- and 2887/- respectively. These are the routine expenses of the business claimed in IT return. We will provide vouchers/supporting documents for the same whenever asked....