2020 (5) TMI 646

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..../- (Rupees Ninety Five Lakhs Fifty Thousands only) to the income of the assessee, which is the sale proceeds of immovable property sold by the assessee and which is also confirmed by C.I.T. (Appeals). The entire sale proceeds cannot be considered as the income, as there must be cost of the immovable property sold. While passing the assessment order, no cost of immovable property was considered. So, assessing authority has erred in making addition of Rs. 95,50,000/- (Rupees Ninety Five Lakhs Fifty Thousands only) to the income of the assessee. It is against the principle of natural justice and requires to be deleted. (II) Addition of Rs. 5.50.000/-: The Ld. ITO has erred in making addition of Rs. 5,50,000/- (Rupees Five Lak....

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....14 but none appeared. The ld. Assessing Officer also issued letter dated 10.06.2014 asking him for various details as per notice u/s. 142(1) and hearing was fixed on 18.06.2014. However, assessee did not comply to letter dated 10.06.2014. A show cause notice u/s. 271(1)(b) was sent to the assessee on 03.07.2014 and hearing was fixed on 14.07.2014. However assessee did not file any reply. 4. In the interest of justice one more opportunity was given to the assessee and a letter dated 16.09.2014 was issued and served on the assessee to appear before the assessing officer on 24.09.2014 but none appeared. The assessing officer had no option but to pass an ex parte assessment and made following additions: (1) As per detail, for the ye....

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.... the assessee. Penalty proceedings u/s. 271(l)(c) are initiated separately. With the above discussion and data made available from the records in the office of the assessee arid the information from CIB and ITD, the total income of the assessee determined as under:- (1) Sold of property   As per discussion para-1 Rs. 95,50,000/- (2) Addition for investment in shares as per   Discussion in para-2 Rs. 5,50,000/- (3) Addition on account of commission received as   Per discussion in para-3 Rs. 9,96,412/- Total Assessed Income Rs. 1,10,96,412/- Rounded off Rs. 1,10,96,410/- 5. Against the ex parte assessment order, assessee preferred first st....

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....e reason that assessee has not filed any return of income u/s. 139 or u/s. 144A. Therefore, claim of the appellant for assessing the income u/s. 44AD is not acceptable and ld. CIT(A) partly allowed the appeal of the assessee. 9. Now assessee has come before us and filed second statutory appeal on 11.07.2018 and matter was fixed on 05.09.2019 but none appeared on the date of hearing and matter was adjourned to 02.12.2019 and notice was served through ld. D.R. but none appeared and matter was refixed on 20.01.2020 but again none appeared. Ample opportunities were given to the assessee but he has not appeared before us. 10. As we can see neither assessee filed return u/s 139 or section 148 of the Act and no submission have been made befo....