TaxTMI 
TaxTMI 
2023 (1) TMI 1116
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....on hearing ld. DR, we condone the said delay. 3. We find no representation on behalf of the assessee nor any application filed seeking adjournment. Thus, the assessee called absent and set ex-parte. Therefore, we proceed to dispose of the appeal by hearing the ld. DR and perusing the material available on record. 4. Since, the issues raised in both the appeals are similar basing on the same identical facts. Therefore, with the consent of ld. DR, we proceed to hear both the appeals together and to pass a consolidated order for the sake of convenience. 5. First, we shall take up appeal in ITA No. 157/NAG/2016 for A.Y. 2004-05. 6. The only issue is to be decided in ground No. 1 is as to whether the CIT(A) justified in confirming the addit....
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....the amounts of Rs.1,00,000/- and Rs.60,000/- were paid in the financial year concerning the year under consideration, the AO asked the assessee to explain the contents of the agreement to purchase deed. The assessee submitted his explanation which is reproduced at pages 2 and 3 of the assessment order stating by referring to page 21 that the agreement to purchase (issar chitthi) was cancelled due to dispute in the property status and filed confirmation letter of the alleged owner by name Abdul Razzaq Haji Daud. Further, referring page 20 stated that the content in page 20 does not belong to him or his family members. His relative Raffique Ghaniwala has given hand loan of Rs.3,00,000/- and the receipt were kept with him for safe keeping as a....
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.... before the AO were reiterated before the CIT(A) which is evident from paras 11 to 14 of the impugned order. The CIT(A) did not accept the submissions of the assessee and held refusal to own agreement to purchase (issar chitthi) is a self serving statement of the assessee. Further, he was of the opinion whether the property transaction as finally taken place or not is immaterial and for no explanation regarding the cash payment, he confirmed the order of AO. On perusal of the submissions of the assessee before the AO and the CIT(A) along with the material filed in the form of paper book before this Tribunal containing 1 to 66 pages specifically the affidavit at pages 34 to 36, we note that the contents of the said affidavit stands corrobora....
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....e. This aspect was not at all considered by the AO and the CIT(A) but both the authorities below went out to disbelieve the version of the assessee as an afterthought. We note that admittedly, the AO added an amount of Rs.1,60,000/- to the total income of the assessee on account of undisclosed investment which is evident from computation vide para 7 of the AO's order. The CIT(A) also without verifying whether there is any investment as brought on by the AO in terms of alleged cash payments reflected in agreement to purchase (issar chitthi). Before us nothing was brought on record to show that the alleged cash payments towards purchase of property were resulted into any investment. Therefore, in the absence of any corresponding asset stated ....