TaxTMI 
TaxTMI 
2022 (11) TMI 668
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....ribunal. 2. In the said appeal, ground which goes to the root of the validity of the proceedings remained to be raised. 3. The ground sought to be raised as per the attached sheet goes to the root of the proceedings and it being jurisdictional one, the assessee may kindly be allowed to raised the same. 4. Appellant craves liberty to furnish additional grounds of appeal. Grounds which appellant intends to raise being a crucial issue and root cause to determine validity of order." 3. The additional grounds of appeal raised by the assessee are read as under: "1. The reopening of assessment is bad and illegal as the reasons for reopening of assessment are recorded by assessing officer subsequent to the approval granted by the Ld JCIT U....
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....ng Officer observed that the identity of the creditor of share application remain unproved and the assessee could not establish genuineness of the transaction and made addition under Section 68 as unexplained cash credit towards Rs. 25,00,000/-. 5. Being aggrieved by the assessment order the assessee filed appeal before the CIT(A). The CIT(A) dismiss the appeal of the assessee. 6. As regards, the additional ground the Ld. A.R. submitted that the Assessing Officer has recorded reasons prior to approval which is not just and proper. For which the assessee pointed out Page 5 & 86 of the Paper Book. As regards, Ground No. 1 the Ld. A.R. further submitted that no notice under Section 143(2) was issued. As regards, the merit of the case the Ld.....
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....om the records presented by the Ld. D.R. before was it can be seen that the reasons were properly recorded and the notice was issued to the assessee. 9. In respect to the contention of the assessee that no cross-examination was done related to statement of Shri Praveen Jain it appears to be genuine as the Assessing Officer has not given any opportunity for the assessee to counter the statement made by Shri Praveen Jain. As regards, the merit of the case is concerned the assessee has provided all the details related to creditworthiness, identity and genuineness of the transaction thereby provided share application form, copy of Gold Resolution of the Company to invest in shares of assessee company of those two companies. The assessee before....