2022 (2) TMI 323

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....s, Sr. DR ORDER PER: N. K. BILLAIYA, AM This appeal by the assessee is preferred against the order of the Commissioner of Income Tax [Appeals], New Delhi dated 20.02.2018 for Assessment Year 2013-14. 2. The grievance of the assessee read as under:- "1. That the assessment order passed by learned CIT (A) is illegal, bad in law and not maintainable or the fact and circumstance o....

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....le making addition of Rs. 13,41,300/- u/s 68 on account of cash deposit inspite of all written submission as on 11/3/2016." 3. Representative of both the sides were heard at length. The case record carefully perused. 4. Briefly stated the facts of the case are that the assessee is a practicing Chartered Accountant being partner in the firm M/s R. A. Bansal & Company. As per the AIR Informati....

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....d that the gross receipts of Rs. 60,02,800/- belong to him and simultaneously submitted a revised return on 18/1/2015. The gross receipts were shown as income from trading business of Grey Fabrics. The reasons for revising the return was mentioned as to buy peace and avoid litigation with the Income Tax Department in pursuance of AIR Information. 6. The A.O dismissed the revised return as in va....

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....ing Chartered Accountant to do business. However, no such evidence was brought on record. The assessee has been harping upon the revised return which is in-fact an in valid return. Further, even before us the assessee has not brought on record any demonstrative evidence to justify his business activities. There is no evidence of any VAT, GST or permission from Municipality. Nor there are any evide....