TaxTMI 
TaxTMI 
2022 (7) TMI 63
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....likarjuna Rao, Aged about 48 Years, R/o, Flat No: 504, Vijaya Maruthi Apartments, Road No.3, Green Hills Colony, Hyderabad 500035, Telangana, hereby Submit as follows:- 1) That I am an income tax Assessee and filed my Income Tax Return for the Assessment 2015-16 which was processed under section 143(3) of the Income tax Act and the assessment was completed by estimating the income at 8% of the gross amount of deposits into bank accounts by the Income Tax Officer, Ward-9(4), Hyderabad. The Hon'ble CIT(A) has sustained the assessment order. 2) Aggrieved by the Appellate Order and Assessment Order, I am filing an appeal before the Hon'ble ITAT , Hyderabad with a delay of 1055 days, which caused due to my sickness and hospitalizatio....
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....g the assessment by an ex party appellate order dated 13.02.2019, for non-appearing during the proceedings. 3) That I have received the CIT(A) appellate order on 29.04.2019 and appeal before the Hon'ble ITAT has to be filed within 60 days i.e., by 28.06.2019. Hence my filing of the present appeal before the Hon'ble' ITAT is delayed by 1055 days. 4) That I am suffering from severe back pains coupled with pain in both lower limbs etc., and hospitalized and further undergoing treatment till now. Doctors advised me to restrict outdoor movement and confine to bed and to home. This physical condition has caused delay in taking advice from the tax consultants and in filing the present appeal. I am enclosing copies of medical certificat....
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....of Rs.3,30,170/-. The case was selected for limited scrutiny through CASS to verify "cash deposits in savings account(s) is more than the turnover". Thereafter, notice u/s 143(2) was issued to the assessee on 26.7.2016 asking the assessee to appear on 22.8.2016, but the assessee did not appear for the hearing. Another notice u/s 142(1) was issued on 23.01.2017 requesting the assessee to furnish information on business activity, details of bank accounts and evidence on carrying on the business activity. 6. Subsequently the assessee appeared before the Assessing Officer and filed certain details. After considering various information furnished by the assessee, the Assessing Officer determined the income by adopting the profit margin of 8% on....
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....ned CIT (A), ought have ordered estimation of income @5% of turnover after giving allowance for cash re-deposits out of earlier cash withdrawals. 4. Such other ground or grounds that may be urged during the hearing of the appeal". 8. I have heard the rival arguments made by both the sides. It is the submission of the learned Counsel for the assessee that the CIT (A) has not granted sufficient opportunity to substantiate his case and therefore, in the interest of justice, the assessee should be given one more opportunity to substantiate his case. 9. The learned DR, on the other hand, strongly opposed the arguments advanced by the learned Counsel for the assessee. He submitted that the learned CIT (A) had given as many as seven opportunit....