TaxTMI 
TaxTMI 
2018 (12) TMI 1135
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....unities were granted despite the fact that the ld AO was not available at most of the dates/ times and assessment was completed without proper opportunity of being heard. 2. That the ld CIT(Appeal) has erred in law and on facts in rejecting the additional evidences under rule 46A treating that sufficient opportunities were granted despite the fact that the ld AO was not available at most of the dates/ times and assessment was completed without proper opportunity of being heard. 3. That the ld CIT(Appeal) has erred in law and on facts in confirming the addition of Rs. 26,00,000/-. 4. That the impugned appellate order is arbitrary, illegal, bad in law and in violation of rudimentary principles of contemporary jurisp....
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....he learned assessing officer preferred the appeal before the learned commissioner of income tax appeals. Before the learned commissioner of income tax appeal assessee made an application under rule 46A of the income tax act submitting the requisite information as a fresh evidence ( additional evidence). The learned commissioner of income tax appeals held that the application of the assessee is not maintainable as the assessee has failed to show sufficient cause. Even otherwise he held that the lender of Rs. 26 lakhs has filed return of income declaring nil gross income and Nil total income and further the notices were served by the AO at the address provided by the assessee of the lender which remain on complied with, the details furnished ....
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....ore the genuineness of loan of Rs. 26 lakhs given to the assessee by the lender does not satisfy the requirement of section 68 of the income tax act. 7. We have carefully considered the rival contention and perused the orders of the lower authorities. Admittedly, the assessee has obtained a loan of Rs. 26 lakhs from a private limited company for purchase of property. Assessee has substantiated before us the transaction by submitting the above details in the form of contra accounts, permanent account number, confirmation and the income tax returns of the lender. However it is also true that the summons issued by the learned assessing officer remained uncomplied with and further the notice issued under section 133 (6) of the income tax act....