2021 (12) TMI 499

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....ied to ignore the fact that the assessment proceedings for the year under appeal were not pending on the date of recording of satisfaction u/s 153C of the Income Tax Act and accordingly these proceedings did not abate in proceedings u/s 153C of the Income Tax Act and the assessment being bad in law deserves to be quashed. 2. That the learned Assessing Officer was not justified to ignore the fact that the assessment u/s 153C of the Income Tax Act be restricted to assessment in respect of seized documents and in absence of any seized documents in the case of appellant for the year under assessment, the assessment framed u/s 153C of the Income Tax Act is bad in law and deserves to be quashed. 3. That the learned Assessing Off....

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....g Officer was not justified to make exparty assessment rejecting the audited accounts along with Tax Audit Report without any basis or incriminating document against the business results for the year. 6. That on the facts and circumstances of the case and the provisions of law, the Ld. CIT (Appeals)-II, has failed to appreciate that the Ld. AO. was not justified to ignore the submissions of the appellant that assessment u/s. 153C of the IT Act be restricted to assessment in respect of seized documents of incriminating nature in the case of the appellant for the year under consideration and in absence of any incriminating seized document in the case of appellant, assessment framed u/s. 153C of the IT Act for the year under considera....

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....y Rs. 19,56,,489/-as unexplained Investment / Expenditure, ignoring the fact that the same are duly reflected/entered in the books of the accounts of the appellant for the year under consideration; (c) . That the Ld. CIT (Appeals)-II, has wrongly calculated the amount of Rs. 26,45,567/- (i.e. Rs. 6,89,078/- + Rs. 19,56,489/-) for the purpose of sustaining/enhancing addition / assessment as unexplained Investment/Expenditure; (d) . That the Ld. CIT (Appeals)-II, did not give sufficient opportunity of being heard to the appellant to represent its case and also failed in ensuring proper services of alleged notices calling for appellate proceedings on time; (e) That the Ld. CIT (Appeals)-II ignored the concept of 'Rea....

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....t Vihar, New Delhi certain documents belonging to the assessee were seized. On the basis of documents so found, the Revenue Authorities observed that the same belong to the assessee and seized from a person covered u/s 132 of the Act, after recording satisfaction note , proceedings were initiated u/s 153C read with Section 153A of the Income Tax Act. Notice u/s 153C dated 8/9/2010 was issued requiring the assessee to file return of income for the Assessment Year 2005-06 within 15 days of service of notice. In response thereto, the assessee's Counsel filed letter dated 12/10/2010 on 13/10/2010 stating that the assessee filed original return for the Assessment Year 2005-06 on 17/8/2005 declaring income of Rs. 70,922/-, the respondent further ....

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....sessing Officer assessed the total income at Rs. 7,60,000/-. 4. Being aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) enhanced the assessment and dismissed the appeal of the assessee vide order dated 4/8/2013. 5. At the time of hearing, none appeared on behalf of the assessee despite giving notices and remark given by the postal authorities is that no one is available at the given address. Therefore, we are proceeding on the basis of the written submissions filed before the Assessing Officer and the CIT(A) which are incorporated in the orders as assessees's submissions and proceedings this appeal. 6. The Ld. DR submitted that the CIT(A) has rightly enhanced the assessment as there was unac....