2019 (7) TMI 434
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....der dated 27.10.2016 of the CIT(A)-10, New Delhi relating to A. Y. 2010-11. 2. None appeared on behalf of the assesse at the time of hearing. It was further seen that the notice issued by the registry through RPAD was returned un-served by the postal authorities. Therefore, this appeal is being disposed off on the basis of material available on record and after hearing the Ld. DR. 3. Levy of pen....
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....icer by observing as under :- 4.3 During the course of assessment proceedings on 15/02/2016, the AR of the appellant was asked to explain the source of cash deposit in his bank account and next date of hearing was on 25/02/2016. On 25/02/2016, the appellant submitted the source of cash deposit inter- alia by way of sale of gold and silver jewellery. When the AO confronted the AR of the appellant....
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.... is a fact that LTCG was not offered voluntarily but was offered to tax when specifically confronted by the Assessing Officer while matter was under investigation that too after so many hearings before the AO. In this regard, reliance is placed on the decision of the Hon'ble Supreme Court in the case of Mak Data P. Ltd vs CIT 358 ITR 593 (SC) The Hon'ble Court has held that - "The statute does....