2022 (5) TMI 448

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.... (D.R.) ORDER PER SHRI LALIET KUMAR, J.M. : This assessee's appeal for Asst. Year 2015-16 arises from the Commissioner of Income Tax (Appeals), Tirupati order dt.7.2.2020 for the Asst. Year 2015-16. 2. None appeared on behalf of the assessee. Heard learned DR and proceeded to hear the appeal exparte. 3. We notice at the outset that assessee's appeal suffers from 210 days delay in fi....

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.... 4. The assessee has raised the following grounds in the appeal : " 1. The learned CIT (Appeals) erred in law and facts of the case in confirming the order of the Assessing Officer who had added the capital introduced amounting toRs.73,40,000 as unexplained cash credits ignoring the fact that substantial amount of this was gift received from father and brother of the appellant. ....

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....ssment Year 2015-16 on 5.11.2016 admitting total income of Rs.Nil. The case was selected under CASS and statutory notices were issued calling for the information. In response, the assessee filed information required by the Assessing Officer. The learned AR was asked to furnish the sources for the investment of Rs.73,40,000/- into his business. The confirmation letters were produced from Sri A. Ran....

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....of the Act amounting to Rs.73,40,000 as unexplained cash credits ignoring the fact that substantial amount of this was gift received from father and brother of the assessee. He prayed that one more opportunity of hearing be provided to present his case before the learned CIT (Appeals) and the matter may be sent back to the file of learned CIT (Appeals) for de novo consideration. 7. The learned ....