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2021 (12) TMI 868

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....unds of appeal preferred by the Appellant. 1. On the facts and circumstances of the case and in law the Ld. Commissioner of Income Tax (Appeals) 7, Hyderabad, erred in sustaining the order of the Income Tax Officer Ward-4(1), Hyderabad by confirming the addition of Rs. 28,01,659/- made towards Bonus Payable, Salaries and Cash credits in capital account. 2. Both in law and in Facts of the case, the order made by the Ld. Commissioner of Income Tax (Appeals) 7, Hyderabad is bad in law, arbitrary, contrary to the provisions of law and against the principles of natural justice. 3. The Ld. Commissioner of Income Tax (Appeals) 7, Hyderabad should have considered the fact that bonus outstanding amounting to Rs. 15,75,OOO/- as on 31-03-2013 wa....

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....e grounds of appeal on or before the final hearing, if the necessity so arises. The appellant prays for appropriate relief based on the said grounds of appeal and the facts and the circumstances of the case." 2. Briefly the facts of the case are that the appellant filed his return of income for the A.Y.2013-14 on 15.09.2013 declaring total income of Rs. 12,21,870/-. The return was processed u/s.143(1) of the I.T. Act on 05.03.2015 resulting in Nil-. Subsequently, the case was selected for scrutiny under CASS and accordingly, Notice u/s.143(2) was issued. The AO completed the assessment u/s.143(3) of the Act on 30-3-2016 determining total income at Rs. 40,23,529/- by making various additions. 3. Aggrieved by the order of AO, the assessee....

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.... as well as gone through the orders of revenue authorities. The ld. AR of the assessee submitted that the bonus was paid during the months of April & May, 2013 i.e. on 30/04/2013, 10/05/2013 & 30/05/2013. The assessee had furnished Annexure - 1, in which the details of employees, amounts paid & signature without the date of payment. The reason has taken by the CIT(A) for confirming the addition that date of payments were not mentioned, is not sufficient to dismiss the ground. He ought to have made an enquiry with the employees who have got the payment of bonus whether the have received the payment of bonus, of so, on what dates. The CIT(A) failed to do so. As per the details submitted before us on 23/11/2021 the bonus has been paid on 30/04....

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....s. Accordingly, ground No. 4 is partly allowed. 8. As regards ground No. 5 relating to the addition of Rs. 65,000/- towards unexplained investment, the AO observed that during the course of scrutiny proceedings the assessee submitted the reconciliation of capital A/c. From the statement submitted the AO noticed that the assessee had credited Rs. 10,000/- on 25/08/2012, Rs. 20,000/- on 12/10/2012, Rs. 15,000/- on 13/12/2012, Rs. 20,000/- on 19/08/2012 by way of cash to the capital A/c and the capital Ale has Increased by Rs. 65, 000/-. The assessee has also submitted a copy of the cash book maintained by the assessee during the course of business carried out by him. From the cash book the AO noticed that there are no entries in the cash boo....