TaxTMI 
TaxTMI 
2019 (9) TMI 379
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....m appeals and 3 appeals against penalty imposed u/s.271B of the Income-tax Act, 1961 (hereinafter called 'the Act') by different but connected assessees for the years captioned above. As some common issues are involved in these appeals, we are, therefore, proceeding to dispose them off by this consolidated order. 2. The first legal ground raised in lead appeal by Sh. Rajesh Madanlal Partani for the assessment year 2005-06 (ITA No.852/PUN/2012), which is common in almost all the quantum appeals, is against failure to issue and service notice upon the assessee u/s.143(2) of the Act within the time prescribed. On an earlier occasion, this ground was not pressed on behalf of the assessee. However, the assessee has again chosen to press this g....
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....stated, the facts of the lead year 2005-06 (in ITA No.852/PUN/2012) which are mutatis mutandis similar to the other seven quantum appeals are that the assessee is a member of Partani group in which a survey was initially conducted u/s.133A of the Act on 04-07-2007, which was converted into search u/s.132 on the same day. The Partani group is engaged in doing business on commission agency and financing of auto rickshaw vehicles through personal finance as well as finance through Shree Gangadhar Nagari Sahakari Pat Sanstha. Sixteen diaries were found during the course of search and seizure containing details regarding old and new vehicles arranged by the assessee. It had further details of the commission received from each transaction, financ....
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.... additions came to be countenanced by the ld. CIT(A). The ld. AR contended that the assessee's father was not keeping good health during the course of relevant proceedings which prevented him from putting in appearance before the ld. CIT(A). 6. The ld. DR vehemently argued that the assessee was given proper opportunity by the ld. CIT(A) but the assessee failed to avail the same. It was thus prayed that the appeals of the assessee be dismissed. It was further pointed out by him that the assessment was getting time barred but the assessee failed to adduce the evidence in time enabling the AO to embark upon proper enquiry. It was thus prayed that the additions so made and sustained be confirmed. 7. Both the sides admitted that the facts and ....
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....he same way as has been done in the case of Sh. Rajesh Madanlal Partani in the lead case as discussed supra. Following the same view, we set-aside the impugned orders and remit the matter to the file of the respective AOs for fresh decision. Needless to say, the assessee will be allowed reasonable opportunity of hearing to the assessee. 12. In the result, all the above appeals are allowed for statistical purposes. ITA Nos. 506/PUN/2012 - Rajesh M. Partani (HUF) 13. This appeal was not pressed by the ld. AR. The same is, therefore, dismissed. ITA Nos. 1020 to 1025/PUN/2012 - Madanlal G. Partani 14. These six appeals by Sh. Madanlal Gangadhar Partani relate to the A.Yrs. 2003-04 to 2008-09. A common issue raised in all these six appeal....
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....ns cannot be said to be unexplained. The ld. AR has taken the argument that the said bank account is part of the assessee's regular books of account which was reflected in the balance sheet prior to the date of search. Under these circumstances, we set-aside the impugned order and remit the matter to the file of AO for examining if all the transactions, for which the addition has been made, were reflected in the assessee's regular books of account maintained prior to the date of search. In case such entries find their place in the regular books of account maintained prior to the date of search, then obviously no addition can be made. In the otherwise scenario, the AO will consider the issue afresh as per law. 18. Facts and circumstances o....