TaxTMI 
TaxTMI 
2022 (9) TMI 921
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....peal Gorakhpur Without considering the fact and Documents produced before him. (2) That the, During the CIT-Appeal, the Ld. CIT Appeal had not taken necessary steps to verify and consider the Annexure attached which is belongs to the Assessee. He had mentioned on his order that the contention made by the appellant regarding the debtor are an afterthought and do not reflect the correct position of the affairs. This statement shows that he had not considered and verified the annexure of debtors and passed the order that the statement of affairs is not correct and fair. It is very obvious that we can't pass judgment on the correctness and fairness of the affairs without considering and verifying the all contents of the affairs. Th....
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....essee did not respond to the notice issued under section 148 nor in response to the notice issued under section 142(1) by the Assessing Officer. The Assessing Officer then issued a show cause notice for completion of the assessment under section 144 of the Income Tax Act on 12.10.2015. Finally, on 29.10.2015, the authorized representative of the assessee appeared before the Assessing Officer and filed written replies, still no return of income was filed by the assessee in response to notice under section 148 and consequently the Assessing Officer framed the assessment under section 144 of the Income Tax Act whereby the Assessing Officer made addition of Rs. 16,08,333/- on account of unexplained investment in purchase of house property. The ....
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....the sale of closing stock and debtors as against the claim of Rs. 11,00,000/-. This estimation of the CIT(A) is without any basis and ignoring the relevant record filed by the assessee in support of his claim. He has submitted that the assessee has given the details of the amount realized from the debtors as well as sale of the closing stock by filing the invoices / sale bills. The Assessing Officer as well as the CIT(A) has rejected this claim without conducting any enquiry. Thus, the learned AR has submitted that the addition sustained by the CIT(A) is unjustified and liable to be deleted. 4. On the other hand, the learned DR has submitted that the assessee is not maintaining any books of accounts and filling the return of income under....
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....t had claimed that the cash of Rs. 11,25,000/- was arranged by realizing debtors and sale of brought forward stock. The appellant had not disclosed any amount of sundry debtors or stock in trade for the F.Y. 2010-11 in the return of income filed by her. The appellant has submitted a copy of balance sheet as on 31.03.2011 according to which closing stock of Rs. 10,25,634/- and sundry debtor of Rs. 125634/- was with the appellant. The appellant has also submitted copies of bills issued to various parties to whom the sale of bricks was made and cash was realized. The appellant has claimed she had realized Rs. 265290/- from the debtors which included brought forward debtors and debtors created during the period prior to purchase of the asset. T....
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....eld upto an extent of Rs. 6,00,000/-, the appellant gets consequential relief." 6. The CIT(A) considered the correct figure while deciding this issue and therefore, to that extent, no grievance of the assessee is left. The limited controversy is regarding the source of investment from realization of closing stock and debtors as on 31st March, 2011. The assessee claimed that she has realized from the sale of old stock of Rs. 9,04,000/- and from debtors of Rs. 2,65,290/- total amounting to Rs. 11,65,690/- and claimed the source of investment in the house property to the tune of Rs. 11,00,000/- from this amount of realization from the closing stock of the previous year as well as from debtors. The CIT(A) estimated these amount of realizatio....