TaxTMI 
TaxTMI 
2022 (9) TMI 790
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....ssment order dated 16.03.2015 passed under Section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the A.Y. 2007- 08. 2. The assessee is an individual having income from other sources and agricultural income. The Assessing Officer got information that the assessee deposited Rs. 14,50,000/- in cash in the Bank of India, Sardhar Branch. However, the assessee has not filed any Return of Income. As there was escaped income, notice under Section 148 of the Act was issued on 19.03.2014 and the notice was served on 21.03.2014. However, the assessee has not filed Return of Income, hence reminder was issued on 21.07.2014 & 24.09.2014 and 142(1) notice was issued on 19.12.2014. Thereafter, the asses....
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....joinder was received from the assessee which reads as follows: "3.1 Briefly submitted that the above bank account is pertains to five persons jointly operated by them the name of each of the person amount deposited by them is as under: 1. Rs. 3,00,000/- Rasikbhai Babubhai Dhankecha 2. Rs. 3,00,000/- Pravinbhai Babubhai Dhankecha (assessee) 3. Rs. 3,00,000/- Jyotsanaben Babubhai Dhankecha 4. Rs. 3,00,000/- Dayaben Babubhai Dhankecha Rs. 12,00,000/- Total deposited on 27-03-2007. 3.2. The Ld, A.O. has not made any comments nor objected with cogent reason on this issue and therefore the submissions made in this para by assessee may kindly be accepted. 4.1. The above....
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.... this account. The assessee re-deposited this amount of Rs.2,50,000/- on 29.9.2006 in this account as is available in bank account itself. Thus, in respect of this Rs.2,50,000/-addition out of Rs. 14,50,000/-, the amount of Rs. 2 ,50,000 /-stands explained. 6.2. Thus out of Rs.14,50,000/-, the amount of Rs.2,50,000/- being old balance withdrawn and re-deposited stands explained. In respect of balance demand of Rs.12,00,000/- a copy of bank accounts furnished here with shows that the said Rs.12,00,000/- are deposited on 27-3-2007 by 4 different person each of them deposited Rs.3,00,000/- a copy of certificate dated 23-3-2012 and 2-2-2018 is furnished here with which shows the name of the person to have deposited his Rs.12,00,000/-, ....
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....son on this issue and therefore the submissions made in this para by assessee may kindly be accepted. 8. Thus the entred deposit of Rs.14,50,000/- stands explained as under: 1. Rs. 9,00,000/- - pertains to other 3 persons as per bank certificate. 2. Rs.2,50,000/- - deposited on 29-9-2006 by assessee as explained at para 6.1 above 3. Rs.3,00,000/- - as explained as para 6.1 above Rs. 14,50,000/- - Total" 3.2. Considering the above reply the Ld. CIT(A) held that the contention of the assessee is not acceptable, firstly because of it tantamounts to additional evidence and no circumstances have been established so as to merit their admittance. Besides, the contention that Rs. 2.5 lakh withd....
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....ere is taxation of the same amount twice. The addition needs deletion. 7. Without prejudice, the assessment made is bad in law and deserves annulment. 8. Without prejudice, no adequate, sufficient and reasonable opportunity has been provided at appeal stage. The assessment needs annulment. 9. Without prejudice, no adequate, sufficient and reasonable opportunity has been provided at assessment stage. The assessment needs annulment. 10. The appellant craves leave to add/alter/amend and/or substitute any or all ground of appeal before the actual hearing takes place." 5. During the course of hearing none appeared on behalf of the assessee but a written submission filed on behalf of the assessee, wherein th....