TaxTMI 
TaxTMI 
2019 (5) TMI 317
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....nating documents were found and seized relating to the assessee company. Accordingly, notices under section 153C of the Act were issued on 27.06.2016, for both the assessment years. In response, assessee filed its return showing income of Rs.(-)23,088/- for A.Y. 2010-2011 and (Rs.(-)1,57,180/- for A.Y. 2011-2012. Later on, statutory notices were issued for completion of the assessment and the A.O. completed the assessment by making additions of Rs. 9,75,374/- and Rs. 12,07,441/- on account of unexplained/unaccounted investments for A.Y. 2010-2011 and A.Y. 2011-2012 respectively. The A.O. passed the assessment orders dated 31.12.2016. 3. The assessee filed appeals before Ld. CIT(A) on 26.06.2017. The Ld. CIT(A) observed that these appeals a....
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.... ITA.No.1462/Del./2017, Dated 18.01.2019. (iii) Order of ITAT, Cuttack Bench in the case of Maruti Estates (India) Pvt. Ltd., Bhubaneswar vs. ACIT, Circle-2(1), Bhubaneswar in ITA.No.321/ CTK/2017, Dated 17.04.2018. 5. On the other hand, Ld. D.R. relied upon the impugned Orders and submitted that explanation of assessee would not disclosed any sufficient cause for not presenting the appeals within the period of limitation. Therefore, the Ld. CIT(A) correctly dismissed the appeals of assessee holding them to be time barred. 6. I have considered the rival submissions and perused the material on record. In A.Y. 2011-2012, the A.O. asked for the details of expenses incurred by assessee on construction of the property. However, no details h....
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.... above Counsels could not file the appeals due to misplace of the papers. The assessee also explained that their Counsels has committed a blunder mistake in not filing the appeals. The assessee also filed affidavit of Shri Rakesh Sharma, C.A. at Page-17 of the PB in which he has mentioned in para-3 that "I could not file the appeals intime inadvertently since it escaped my attention." There is, thus, contradiction in the explanation of assessee as mentioned in the application for condonation of delay and in the affidavit of Shri Rakesh Sharma, C.A. The averments contained in the application for condonation of delay and affidavit are contradictory and as such both cannot be relied upon in support of the explanation of assessee. The assessee....
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....atter case no such consideration may arise and such a case deserves a liberal approach. Now in the present case, the delay is not of a few days but of 175 days. Besides, there is absolutely no valid explanation/reason for the delay. In the case of CIT v. Ram Mohan Kabra [2002] 257 ITR 773, the Hon'ble Punjab & Haryana High Court has observed that where the Legislature spells out a period of limitation and provides for power to condone the delay as well, such delay can only be condoned only for sufficient and good reasons supported by cogent and proper evidence. It is a settled principle of law that provisions relating to the specified period of limitation must be applied with their rigor and effective consequences. In this case, delay ....