TaxTMI 
TaxTMI 
2022 (4) TMI 1315
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....ing the above appeal before the Tribunal. 2. In the affidavit filed by the assessee, it is stated that by mistake the appellate order was not brought to the knowledge of the Chartered Accountant in time; therefore, there was a delay of 101 days in filing the present appeal before the Tribunal. The learned Departmental Representative appearing for the Revenue has no serious objection in condoning the above delay. Therefore, we condone the delay in filing the appeal before the Tribunal and take up the appeal for hearing. 3. The brief facts of the case are that the assessee is an individual engaged in the business of trading of furnace oil, fuel oil and bitumen in the name and style of Subhi Impex. The assessee is also having income from oth....
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....r opportunity to furnish the details before 10.12.2018; however, the assessee failed to furnish any such evidence before the Assessing Officer. In the above circumstances, the Assessing Officer treated the cash deposited in the bank account amounting to Rs. 23,90,000/- as unexplained cash credit under Section 68 of the Act and added the same to the total income of the assessee. The Assessing Officer also calculated the tax on Rs. 23,90,000/- under Section 115BBE of the Act and initiated the penalty proceedings accordingly. 4. Aggrieved by the assessment order, the assessee filed an appeal before the learned CIT(A). The findings recorded by the learned CIT(A) in his impugned order are as follows:- "2.5 I have considered the facts of the c....
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....ncome to the extent of Rs. 5.6 lakhs (average) every year, the amount to this extent can be accepted for this year also as agricultural income which is generated in cash. Therefore, the cash deposit in the form of agricultural income of Rs. 18,30,000/- (23,90,000/- - 5,60,000/-) is confirmed as undisclosed unexplained credit u/s. 68 of the Act which has become undisclosed income of the assessee for the year. The assessee gets relief of Rs. 5,60,000/-. Accordingly, the appeal of the assessee is partly allowed. " 5. Aggrieved against the order of the learned CIT(A), the assessee is in appeal before this Tribunal, raising the effective solitary ground viz. the CIT(A) has erred in law in confirming addition of Rs. 18,30,000/- as unexplained ca....
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....appellate proceedings before the learned CIT(A), the same were not produced by the assessee and no specific reason for not producing the same before the lower authorities has been properly explained by the assessee. He accordingly submitted that the Tribunal may take appropriate view in the case of the assessee in the circumstances narrated above. 8. We have gone through the materials available on record and given our thoughtful consideration. As rightly stated by the learned DR, the assessee was given ample opportunities by the Assessing Officer; however, the assessee has not produced relevant details, documents, bills and bank statements before the Assessing Officer. The case of the assessee is that it is holding agricultural land and al....