TaxTMI 
TaxTMI 
2018 (7) TMI 131
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....e revenue's appeal following amount of addition has been disputed:- 1. Rs. 6,13,630/- on account of vehicle repair and maintenance and depreciation; 2. Addition of Rs. 14,50,000/- u/s 68 3. Since tax effect on the disputed issue is less than Rs. 10 lacs, therefore, the Revenue's appeal is not maintainable as per CBDT Circular No. 21/2015 dated 10th December, 2015, F. No. 279/ Misc./ 142/2007-ITJ(Pt.) and hence same is dismissed as not maintainable. 4. In so far as the assessee's appeal is concerned in the grounds of appeal assessee has challenged the addition of Rs. 15 lacs made by the AO u/s 68 on account of investment made by M/s. Kangaroo Financial Services Pvt. Ltd. as share application money received by the assessee for which sha....
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.... sufficient and enough to prove his identity, capacity, credit worthiness, source of the money advanced and genuineness of the transaction. The Ld. AO, however, preferred to issue summon u/s 131 for the personal deposition of and by the loan creditor on 03-01-2014 even after passing and signing the assessment order on 31-12-2013. The said summon could not be served due to change of address so at the request of the appellant the said loan creditor sent the documents such as i) Confirmation of Account, ii) Copy of Bank Statement and iii) Copy of ITR directly to the office of the Ld. AO by speed post well in time on 21-11-2013 but the Ld. AO did not consider the said documents having been received by him through speed post at all and he accord....
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....ticularly and especially in respect of his comments at Para 3 of Page 4 of the said report regarding date of summons u/s 131 dated 03-01-2014 issued in the name of t-t/s Superior Facility Management Pvt. Ltd. and the Inspector's report in respect thereof it may be very humbly and respectfully stated and and submitted as hereunder ;- 1) Your kind attention is invited to the assessee's application dated 12-5-2014 filed before the Ld. DCIT Circle 14(1) New Delhi (Copy enclosed) requesting for issuance of certified copies of some documents particularly and specially including that of i) Copy of the Order Sheet at SI. No.1, ii) Copy of the documents directly sent by the loan creditor M/s Superior Facility Management Pvt. Ltd. under Sp....
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....relied upon various case laws. 7. Before us Ld. Counsel submitted that, despite furnishing all the documents including the income tax return copy of audited balance sheet and all the supporting documents of the said company, AO without verifying the same form the department choose to issue summon to the company which could not be served and even the ITI inquiry happened on the back of the assessee and same was not confronted to the assessee. Before the Ld. CIT (A) despite raising various objections and furnishing all the documents, he has given a very erroneous finding of fact that nothing has been produced to prove identity and creditworthiness of the creditor. 8. On the other hand, Ld. DR after referring to the various observations made....