2022 (3) TMI 64

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....RG , JUDICIAL MEMBER This appeal preferred by the assessee is against the order of the Ld. CIT(A)-14, Kolkata dated 30.01.2016 for the A.Y. 2007-08. 2. That this appeal is pending for quite considerable time and on 03.06.2019 when this Tribunal called the matter for hearing, no one appeared on behalf of the assessee nor any Counsel appeared and the case was dismissed for non-appearance. 2....

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.... the law does not help a sleeping litigant. 3. However in the interest of justice, we proceed to decide the appeal on merits of the case after considering the material on record and after hearing the Ld. D.R. 4. The assessee has raised the following grounds of appeal: "i. That on the facts and circumstances of the case, the Ld. CIT(A) erred in confirming the addition of Rs. 4,20,04,....

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....ed from ADIT(Inv) Unit (2), Kolkata regarding high volume of cash transactions in the month of January 2007 in two bank accounts of the appellant. The bank accounts showed cash deposits of Rs. 2,05,05,200/- in a/c No. 627905009535 and Rs. 2,14,99,000/- in a/c No. 627905009533 during the relevant period. The cash deposits were shown to be in the name of Chowdhary Associates and Parag Brothers, whos....

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....bove contention with any evidence in this respect. So far as the contention of the assessee about the declaration of income of Rs. 84010/- made by the assessee u/s. 183 of the Finance Act, 2016 and accepted by the Principal Commissioner of Income Tax while deciding this issue, the Ld. CIT(A) in his order specifically stated that there was no established nexus between the aforesaid cash deposits an....