2022 (12) TMI 284

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....e I.T. Act, 1961 on 20.10.2013 declaring total income of Rs.1530/-. The A.O. has noted that a search and seizure operation under section 132 of the I.T. Act, 1961 was conducted in the case of Priyagold Group of assessees on 16.12.2014 by Investigation Wing, Delhi. Consequent to the search, proceedings under section 153C read with Section 153A of the I.T. Act, 1961 was initiated in the case of the assessee. The A.O, thereafter, has noted that information was received from Investigation Wing, Kolkata that a search and seizure operation under section 132 of the I.T. Act, 1961 was conducted upon the assessee on 19.11.2015. Hence, the proceedings initiated under section 153C r.w.s. 153A of the I.T. Act, 1961 in consequence to the search operatio....

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....08, New Delhi ('the Ld. Assessing Officer') in upholding the addition of Rs. 39,06,250 made u/s 37 of the Act on account of alleged unexplained expenditure on commission". 4. On the date of hearing none appeared on behalf of the assessee nor any adjournment application was filed despite the fact that the notice of hearing was issued to the assessee through speed post which has been returned by the postal authorities with the remarks "no such person in this address". Preferring an appeal does not mean merely only formally filing it, but, also taking all the steps to effectively pursue the appeal. We are of the view that it is the duty of the assessee to furnish new/change of address, if any, by filing the revised Form No.36 in the Registry....

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....t substantive addition was made in the hands of ultimate beneficiary while protective addition of Rs.15,60,50,000/- was made in the hands of assessee-company. The A.O. noted that assessee-company was used for channelizing the unaccounted funds of M/s. Surya Agrotech Infrastructure Pvt. Ltd., and the entry operators generally charge 2-3% of total entry value as commission. A.O. held that since assessee-company had given entry of Rs.15,62,50,000/- during the assessment year under consideration, for which, he worked-out commission @ 2.5% at Rs.39,06,250/- and made the addition. 6. Aggrieved by the order of the A.O, the assessee carried the matter in appeal before the Ld. CIT(A) and the Ld. CIT(A) upheld the addition made by the A.O. 7. Aggri....