2022 (2) TMI 323

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.... 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 of the case. 2. That the assesses has explained sour....

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....osit 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 Information, the A.O came to know that the assessee had made cash transactions a....

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....ised 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 valid return and did not accept the claim of business for want of evidences. The aggregate amount....