TaxTMI 
TaxTMI 
2022 (7) TMI 810
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....and circumstances of the case the learned CIT(A) has erred in passing the order without giving the assessee a proper and adequate opportunity of being heard in clear violation of principle of natural justice. 3. On the facts and circumstances of the case the learned CIT(A) has erred in -confirming the order passed by the AO without any finding on the merits of the case. 4. On the facts and circumstances of the case the learned CIT(A) has erred both on acts and in law in confirming the action of the AO in rejecting the books of accounts despite the same having been made by the assessee as per law. 5. On the facts and circumstances of the case the CIT(A) has erred in confirming the addition of Rs. 18,33,53,700/- made by the AO by est....
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....he facts and circumstances of the case the learned CIT(A) has erred in confirming the addition of Rs. 11,14,03,000/- made by the AO on account of expenditure incurred in road development inside the mines during the year. 13. On the facts and circumstances of the case the learned CIT(A) has erred in confirming the disallowance of Rs, 43,54,300/- made by the AO invoking the provisions of Section 14 A of the Act. 14. On the facts and circumstances of the case the learned CIT(A) has erred in confirming the action of the AO in assessing the book profits under Section 115JB on Rs. 7,41,20,510/-. 15. On the facts and circumstances of the case the learned CIT(A) has erred in confirming the disallowance of Rs.43,54,300/- made by the AO unde....
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....refore the Assessing Officer computed the income as under: Amt. (in Rs.) Returned loss 744671321/- Add: (i) On a/c of 3% of Gross Sales (as discussed in Para-4) 183353700 (ii) On account of proportionate intt. Exp. On loan given (as discussed in para-5) 7252000/- (i) On a/c of proportionate intt. Exp. On Interest free deposits (as discussed in para-6) 57182890/- (ii) On a/c of cessation of liability (as discussed in para-7) 12562073/- (iii) On a/c of mobilization advance (as discussed in para-8) 82600000/- (iv) On a/c of dep. On CWIP (as discussed in para-9) 54470000/- (v) On a/c of Road Development Exp. (as discussed in para-10) 111403000/- (vi) On a/c of o/s balance to OCB (as discussed in p....
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....d the learned CIT DR and perused the material available on record. We find that the authorities below have given sufficient opportunities to the assessee. The assessee failed to comply with the directions given by the assessing authority from time to time. Therefore, in the absence of compliance of such directions and not furnishing the evidences, the Assessing Officer was justified in proceeding and passing best judgment order u/s 144 of the Act. Ground nos. 1 & 2 are, therefore, rejected. 7. Apropos ground nos. 3 to 15, learned CIT DR heavily relied on the orders of the authorities below and submitted that the assessee has grossly failed to substantiate the claim. The auditors have also not signed the audit report. In the absence of the ....