TaxTMI 
TaxTMI 
2021 (3) TMI 456
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....edly by ITO without proper service of notice on the appellant and the same is against Allahabad High Court decision reported in 1980 (124) ITR page 828 M/s. Laxmi Industries And Cold Storage Company Pvt. Ltd. case. 2. That on the facts and in the circumstances of this case the learned CIT (Appeals) was not legally justified in confirming ex-parte passed hurriedly by ITO as no notice mentioned in order as 09/06/2016, 12/03/2017, 29/03/2017, 17/05/2017, 21/07/2017 were never served/affixed/refused by appellant and otherwise report if any of process server or postman is not correct. 3. That on the facts and in the circumstances of this case the learned CIT (Appeals) was not legally justified in confirming estimate of Rs. 12,5....
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....notice is not pressed and agreed for assessment on merit and learned CIT (Appeals) verbally assured to fix income maximum at Rs. 1,65,000/- u/s. 44AF of the Act but forgot the verbal assurance and illegally dismissed appeal in respect of total deposit during the year even after withdraw, as income of appellant. 7. That on the facts and in the circumstances of this case the learned CIT (Appeals) was not legally justified in confirming charge of interest u/s. 234(A) of Rs. 2,46,585/- and u/s. 234(C) of Rs. 2,46,585/- when the same charged of interest is not legal and is against provision of law as additions made were never anticipated. 8. That on the facts and in the circumstances of this case the learned CIT (Appeals) was n....
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....essee. Further, the assessee has not pressed this ground before the CIT(A) as stated in the impugned order and therefore, the assessee cannot allow to raise this issue after making a statement of not pressing this ground before the CIT(A). 4. Having considered the rival submissions and careful perusal of the record it is noted that the Assessing Officer has reopened the assessment by issuing the notice u/s. 148 on 29.03.2017. On the basis of information that during the year under consideration, the assessee has made cash deposits of more than ten lacs in his saving Bank account. The Assessing Officer has initiated the reassessment proceedings on the basis of the record received from the SBI, wherein the assessee is maintaining his accoun....
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....nd 2 of the assessee appeal are dismissed. 6. In the rest of the grounds, the assessee has raised only one issue regarding the addition made by the Assessing Officer on account of entire deposits made in the bank account of the assessee of Rs. 12,58,837/-. The Ld. AR of the assessee has submitted that the assessee is dealing in the cattle feed and fodder and therefore the deposits in the bank account of the assessee represent the sale proceeds of the cattle feed/fodder. He has further contended that since the turnover of the assessee was less than Rs. 13.00 lacs therefore, as per the provisions of Section 44AF of the Act the presumptive income shall be assessed by taking N.P. at 5%. Hence, he has pleaded that applying the 5% of the said ....