TaxTMI 
TaxTMI 
2018 (4) TMI 452
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...., probabilities, facts and circumstances of the case. 2. The appellant denies himself to be liable to be assessed to a total income of over and above the returned income of Rs. 1,87,770/- under the facts and circumstances of the case. 3. The learned CIT(A) was not justified in not adjudicating the legal grounds raised on the reopening of the assessment on the facts and circumstances of the case. 4. The learned CIT(A) was not justified in not noticing that the order of assessment passed under section 143(3) read with section 147 of the Act is bad in law since the mandatory conditions as envisaged in the Act to assume jurisdiction did not exist or having not been complied with and consequently, the reassessment ough....
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....11. The appellant denies the liability to pay interest under section 234B and 234C of the Act in view of the fact that there is no liability to additional tax as determined by the learned assessing officer. Without prejudice the rate, period and on what quantum the interest has been levied are not discernable from the order and hence deserves to be cancelled on the facts and circumstances of the case. 12. The appellant craves leave to add, alter, modify, delete or substitute any or all of the grounds and to file a paper book at the time of hearing the appeal. 13. In view of the above and other grounds that may be taken at the time of the hearing the appeal, the appellant prays that the appeal be allowed in the interest of ....
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....and justice rendered." 4. The additional grounds raised vide application dated 28.10.2017 relate to the non-disposal of the objections raised by the assessee against the reopening of the assessment by the AO. Having carefully examined the orders of the lower authorities, we find that the assessee has never raised any objection in writing before the AO which requires proper adjudication. In the absence of any specific objection in writing, the AO is not required to adjudicate any such type of objection, if raised orally. More over, admission of these grounds requires verification of facts. This ground was not raised either before the CIT(Appeals) or before the Tribunal while filing the appeal. Under these circumstances, we find no merit i....
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....ff the corresponding debit balance in its books of account as on 31.3.2011 itself. Therefore, on the basis of these facts, the AO has properly formed a belief that income chargeable to tax has escaped assessment. In the light of these facts, we do not agree with the contentions of the assessee that no material was available before the AO to form a belief that income chargeable to tax has escaped assessment. More over, no regular assessment was framed u/s. 143(3) of the Act. Therefore, there is no proper application of mind of the AO as the return filed was processed u/s. 143(1) of the Act. Therefore, we find no merit in these grounds of the assessee and accordingly we reject the same. 9. So far as ground Nos. 6 to 10 are concerned, we fi....
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....ed of the same, can it be claimed as income in the hands of the debtor u/s. 41(1) of the Act. It was further contended that revenue has not placed any evidence on record to establish that assessee was duly informed about the writing off of the debt in the books of accounts of the creditor. 11. The ld. DR, on the other hand, has contended that the AO was informed by M/s. Mahindra & Mahindra vide its letter dated 24.03.2015 that they have written off the entire outstanding balance of Rs. 3,08,03,419.13 in the books of account during the year ended 31.3.2011. But there is no movement of corresponding entries in the books of account of the assessee. The ld. DR further invited our attention that there was dispute between the assessee and M/s.....
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....indra. From a careful perusal of this correspondence exchanged between M/s. Mahindra & Mahindra and the assessee available at pages 41 to 49, we find that there was dispute between both the parties with regard to the outstanding liability. Thereafter, an outstanding liability of Rs. 3,08,03,419.13 was written off in the books of account. Though there was dispute with regard to the outstanding liability as legal notice was exchanged between them, but no evidence is placed by the Revenue that the assessee was informed about the writing off the debt in the books of account of M/s. Mahindra & Mahindra. In any case, where the assessee has denied the knowledge of writing off of such huge amount of bad debt, it was incumbent upon the AO to dig out....