AI Drafter 
TaxTMI 
TaxTMI 
2021 (4) TMI 1062
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....rusti Row House maintained by him which was later on also admitted by him in his statement on oath and this project was developed by the assessee firm i.e. M/s Shree Ram Developers. Also, there was no denial that on money has been seized in the Shrusti Row House Project. [2] On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred to held the addition of Rs. 3,16,65,000/- made on account of unexplained income u/s.69A of the I.T. Act, 1961 as unjustified in spite of the fact that the assessee had maintained the consistent non-cooperative attitude throughout the assessment proceedings as several opportunities were provided to him to put forth his case but nothing was produced by the assessee and the AO was compelled to pass ex-parte assessment u/s.144 of the Act considering the relevant material on record. [3] On the facts and in the circumstances of the case, the Ld. CIT(A) ought to have upheld the order of the Assessing Officer. [4] It is, therefore, prayed that the order of the CIT (A) may be set aside and that of Assessing Officer may be restored to the above extent." 2. Brief facts of the case as extracted from the order of th....
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....us books of A/Cs along with other incriminating documents, related to Shrushti Raw House project were found and seized. Seized material clearly shows that, separate ledgers have been maintained for each part of the project, wherein plot wise details of cash collection with date have been maintained and are related the periods pertaining to F.Y. 2005-06, 2006-07 and 2007-08 respectively. b) During the post search enquiries, Shri Ankurbhai Babariya was summoned for explaining the contents of the seized document. In his statement, recorded on oath, Shri Ankurbhai Babariya had stated, that, - the seized books belong to project Shrushti Raw House - & he had been maintaining these ledgers, cashbooks, registers and other documents. c) Annexure-A/12 of the seized books is cash book maintained for the period from 13.09.2005 to 29.10.2005; & d) Annexure-A/4 of the seized books is cash book for period from 30.10.2005 to 11.05.2006. e) Ledger account seized were analyzed which showed following results:- i) Annexure-A/1 seized on 18.07.2012 has plot wise entry of part-3 of the project. ii) Annexure-A/3 seized on 18....
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.... 220000 0 350000 570000 7 7 270000 75000 0 345666 8 8 250000 0 0 250000 9 9 220000 0 0 220000 10 10 210000 0 0 216666 11 11 220000 220000 0 440000 12 12 220000 30000 0 250000 13 13 220000 0 0 230000 14 14 220000 0 348000 568000 15 15 200000 0 368000 568000 16 16 200000 75000 0 275000 17 17 200000 75000 0 275000 18 20 215000 15000 0 230000 19 25 220000 0 0 220000 20 26 220000 0 0 220000 21 27 250000 0 0 250000 22 28 220000 30000 0 250000 23 29 230000 0 0 230660 24 30 270000 0 0 270000 25 33 220000 0 0 220000 26 34 220000 0 0 220000 27 35 220000 0 0 220000 28 36 220000 0 ....
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.... 74 98 220000 0 0 220000 75 99 215000 0 0 215000 76 100 220000 413000 0 633000 77 101 235000 0 0 235000 78 102 220000 0 0 230000 79 103 235000 394000 0 629000 80 105 220000 45000 0 265000 81 106 220000 45000 0 265000 82 107 220000 0 0 220000 83 108 220000 0 0 220000 84 109 220000 0 0 220000 85 110 220000 0 0 220000 86 113 250000 15000 0 265000 86-A 114 250000 60000 0 310000 87 115 220000 0 0 220000 88 116 220000 45000 0 265000 89 123 220000 0 0 220000 90 124 220000 0 0 220000 91 126 220000 0 0 230000 92 127 220000 320000 0 540000 93 129 220000 0 0 226666 94 130 220000 0 0 226600 ....
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....nbsp; 134 192 220000 30000 0 250000 Total 31665000 5470000 2507000 39592000 11. Details of Concealment of Income for period F.Y 2005-06: Here, it is pertinent to mention that as per reasons recorded dated 28.02.2013 before issuing notice u/s.148, the amount of concealment was mentioned as Rs. 3,70,90,000/- (instead of Rs. 3,17,90,000/-). It can be seen that the assessee had received total cash amounts of Rs. 3,16,65,000/- in F.Y. 2005-06. The total Cash receipts for Sector-3 of Shrusti Raw House is arrived at Rs. 3,95,92,000/-. These amounts are neither reflected in the regular books of account of M/s.Shree Ram Developers nor was explained by the assessee in spite of giving repeated opportunity. The assessee has grossly failed to prove his onus in this case and that too without any reasonable cause from preventing him to do so. It has forced me to believe that assessee is simply trying to avoid the due process of law. He knows that documentary evidences seized from the close associate of him, proves beyond doubt, the fact of unaccounted income being earned by the assessee firm. Here it is perti....
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....blic amenities as per Surat Urban Development Authority Regulation, the total cost to be Rs. 35,85,000/-. The assessee also incurred various other developmental charges of Rs. 68,45,548/-, thus, total cost project was Rs. 1.04 crore. The assessee sold 549 plots of 66 sq.mtr each @ Rs. 20,000/- per plot in A.Y. 2006-07 at a total consideration of Rs. 1.09 crore and earned profit of Rs. 5,49,452/-. During the survey proceedings under section 133A of the Act on 17.01.2006 the assessee admitted all the facts before the Income Tax Officer, Ward-9(3). It was also explained that the assessee firm was set up while partnership deed dated 01.06.2007. The assessee firm engaged in the business of construction of Row House known as Shrushti Row House at village Kasad, District Surat. The assessee entered into agreement of owners of Row House for the purpose of construction on contract basis. The assessee further stated that addition of Rs. 3.16 crore was made on the ground that Annexure A/1 indicates the receipt on money of Rs. 3.16 crore. Annexure A/2, A/3, A/5 and A/11 were related to the maintenance charges of Rs. 31,665/- acquired by Ankurbhai Goardhanbhai Babariya for grass cutting. No ....