TaxTMI 
TaxTMI 
2017 (12) TMI 993
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....2(22)(e) of the Act, therefore the appeals were consolidated. In A.Y. 2006-07 assessee has raised the following grounds of appeal: - "1. On the facts and in the circumstances and in law, the learned C.I.T. (A) erred in upholding the validity of the proceedings initiated u/s 147 of the I.T. Act. 2. On the facts and in the circumstances and in law, the learned C.I.T. (A) erred in upholding the validity of the assessment order passed u/s 143(3) r.w.s.147 of the I.T. Act. 3. On the facts and in the circumstances and in law, the learned C.I.T. (A) erred in confirming the action of the A.O. and upholding the addition made of Rs. 6,21,306/- u/s 2(22)(e) of the Act. 4. On the facts and in the circumstances and in....
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....essee engaged in the business of online lottery and commission agent and is also Director in M/s. Model Sales Agency Pvt. Ltd. Assessee filed his return of income for the relevant assessment year on 01.11.2016 declaring total income of `15,94,758/-. The return was processed under Section 143(1). Subsequently, the assessment was reopened under Section 147. Notice under Section 148 dated 29.03.2010 was served upon the assessee. The assessee vide its reply dated 07.04.2010 contended that the return already furnished may be treated as return in response to the notice under Section 148. The assessment was reopened for the following reasons: - "Assessee has filed his return of income for A.Y. 2006-07 on 01.11.2006 declaring total income ....
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.....s 147 on 30.12.010. The AO while passing the assessment order made following additions: - Addition under Section 2(22)(e) Rs.6,21,306/- Service Charges Rs.34,18,011/- EMI Lottery terminal charges Rs.15,36,000/- Logistic paper charges Rs.1,01,997/- Postage and courier charges Rs. 27,567/- Stationery and printing charges Rs. 1,28,339/- Disallowance under Section 14A to the extent of 5% of exempt income On appeal before the CIT(A) the reopening of assessment as well as various additions/disallowance were confirmed. Further aggrieved by the order of the CIT(A) the assessee filed present appeal before us. 5. None appeared on behalf of the assessee despite waiting. The copy of authority le....
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.... 7. We have considered the submissions of the learned D.R. for Revenue and perused the material available on record. The assessment was reopened by the AO observing that the assessee has substantial interest of 94.54% in M/s. Model Sales Agency Pvt. Ltd. which has advanced loans to the assessee and his other concerns. This fact came to the notice of the AO during the assessment of M/s. Model Sales Agency Pvt. Ltd. Thus, in our opinion this information was sufficient to make a belief by the AO that income has escaped assessment. Thus the reopening of assessment was valid. The assessee has not paced on record any material to prove the facts otherwise. Thus, the re-opening of assessment under section 147 is valid. In the result the ground N....
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....view; hence the ground of appeal raised by assessee is dismissed. 10. Ground No.5 relates to lottery terminal charges of Rs. 15,36,000/- and ground No. 6 relates logistic paper charges of Rs. 7,82,869/-. The AO disallowed due to non deduction of TDS as the provisions of section 40(a)(ia) are applicable. The ld CIT(A) confirmed the action of AO on both the disallowance holding that the assessee has admitted that no TDS has been made. Further, the assessee had debited the expenses on the basis of debit notes sent be service provider. The said expenses have not paid by the assessee and claimed as not payable to Tripura on line Lottery so the expenses were not paid wholly and exclusively for the purpose of business. We have noted the assesse....
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....cision of Hon'ble Bombay High Court in Godrej & Boyce Manufacturing Company Ltd. Vs DCIT [2010] 234 CTR1. We have seen that in absence of any explanation or documentary evidences on record the disallowance sustained by ld CIT(A is reasonable one. Hence, this ground of appeal is also dismissed. 14. Ground No10 relates to denial of benefit of section 10(36) of the Act. The AO denied the benefit of section10 (36) for the want of evidence. The ld CIT(A) confirmed the action of AO that no proof was furnished by assessee even at the stage of appeal. We have not that the assessee has not placed any evidence before us except raising the grounds of appeal. Thus, we do not find any merit in the ground of appeal; hence this ground of appeal is also....