TaxTMI 
TaxTMI 
2023 (1) TMI 1217
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....der of learned Commissioner of Income Tax (Appeals) is bad in law as well as on the facts and in the circumstances of the case. 2. That the Ld. CIT(Appeals) in the facts and circumstances of the case has erred in not appreciating that the order passed by the Ld. AO was illegal and without jurisdiction. 3. That the Ld. CIT(Appeals), in the facts and circumstances of the case, has erred in not appreciating that the order passed by the ld. AO was without providing proper opportunity of being heard and was against the principles of natural justice. 4. That the ld. CIT(Appeals) has erred in sustaining a double addition of Rs.39,00,000/- already assessed in the hands of M/s. Angad & Sons Realcon Pvt. Ltd. vide assessment order dated 18.12.2....
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....h time the Settlement Commission passes an order in the case of Angad & Sons Realcon Pvt. Ltd. which has bearing on the additions made in the case of these assessees the Ld. CIT(Appeals) dismissed the appeals of the assessee ex parte. The Ld. Counsel for the assessee further submits as under: - 1. "The case of the appellant for AY 2010-11 was reopened u/s 148 of the Income Tax Act, 1961 on 30.03.2017. 2. A return of income was filed on 25.04.2017 in response to notice u/s 148 through e- filing portal declaring nil income. 3. The jurisdiction of the case was transferred to ITO, Ward - 3(3), Chandigarh on 27.09.2017. 4. Notices u/s 142(1) of the Act were issued on 10.10.2017, 01.11.2017 and show cause notice was issued on 08.12.2017. ....
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....ealcon Pvt. Ltd. was of Rs. 39,00,000/- (Copy of Balance sheet at pg. 8 to 9). Therefore the reopening itself per se was bad in law and without application of mind of the Id. AO resulting in an addition of Rs. 39,00,000/- which was totally wrong. b. The Id. AO ITO Ward 1(1), Faridabad has framed an assessment in the case of M/s. Angad & Sons Realcon Pvt. Ltd. u/s 144 r.w.s 147 of the Act vide order dated 18.12.2017 (Copy of assessment order at pgs. 1 to 7). In the said assessment order, an addition of Rs. 1,98,00,000/- has been made which include Rs. 39,00,000/- towards increase in share capital / share premium in the name of the appellant Sh. Deep Karan Dalai. The case of M/s. Angad & Sons Realcon Pvt. Ltd. for AY 2008-09 to 2018-19 ....
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....ed to comply with the notices in all stages. The assessee never replied nor responded to any of the notices of the Assessing Officer. The Assessing Officer based on the information available with him and the records, came to know that the assessees have made investment of Rs.39 lakhs each in two Companies namely Angad & Sons Pvt. Ltd. and Angad & Sons Realcon Pvt. Ltd. and these investments have been treated as unexplained investments by the Assessing Officer in the absence of any response from the assessees. Before the Ld. CIT(A) the assessee contended that there is a petition pending before the Settlement Commission in the case of Angad & Sons Realcon Pvt. Ltd. for AY 2010-11 and the outcome of the decision of the Settlement Commission wi....
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....explained the reasons why the assessees could not appear before the Assessing Officer in the assessment proceedings and before the Ld. CIT(A) it was requested to keep the proceedings in abeyance. The submissions of the assessee are as under: - 1. "The case of the appellant for AY 2010-11 was reopened u/s 148 of the Income Tax Act, 1961 on 30.03.2017. 2. A return of income was filed on 25.04.2017 in response to notice u/s 148 through e- filing portal declaring nil income. 3. The jurisdiction of the case was transferred to ITO, Ward - 3(3), Chandigarh on 27.09.2017. 4. Notices u/s 142(1) of the Act were issued on 10.10.2017, 01.11.2017 and show cause notice was issued on 08.12.2017. 5. A search and seizure proceedings were initiated....
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....lance sheet at pg. 8 to 9). Therefore the reopening itself per se was bad in law and without application of mind of the Id. AO resulting in an addition of Rs. 39,00,000/- which was totally wrong. b. The Id. AO ITO Ward 1(1), Faridabad has framed an assessment in the case of M/s. Angad & Sons Realcon Pvt. Ltd. u/s 144 r.w.s 147 of the Act vide order dated 18.12.2017 (Copy of assessment order at pgs. 1 to 7). In the said assessment order, an addition of Rs. 1,98,00,000/- has been made which include Rs. 39,00,000/- towards increase in share capital / share premium in the name of the appellant Sh. Deep Karan Dalai. The case of M/s. Angad & Sons Realcon Pvt. Ltd. for AY 2008-09 to 2018-19 is pending before the Income Tax Settlement Commiss....