TaxTMI 
TaxTMI 
2023 (2) TMI 415
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....For that the reassessment proceedings being initiated on borrowed satisfaction is null and void. iii. For that the Ld CIT(A) erred in confirming the order of Ld. AO even when the reassessment proceedings being initiated without proper sanction is bad in law. Sanction, if at all granted, was granted mechanically. iv. For that the Ld. CIT(A) erred in confirming the order of Ld. AO even when the Assessment Order itself is bad in law for the reason that the Ld. AO did not provide the appellant the copy of the "reasons to believe" recorded by it before issuing of notice u/s148. v. For that the Ld CIT(A) erred in confirming the action of AO while the assessment order passed by the Ld. AO is totally alien to the information received from ....
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....hereas there was merely a small typographical error occurred due to haste in which the appellant was put into by the Ld. Assessing Officer. x. For that the appellant craves leave to add, alter or withdraw any ground/s of appeal on or before hearing of the appeal." 2. Brief facts of the case are that in this case information was received from the office of the DIT(Inv.), Kolkata that the present assessee had done a high volume of cash transactions during the financial year 2006-07. The ld. AO immediately verified the data of the assessee and came to know that the assessee has not filed any return for the assessment year in question. The ld. AO on the basis of information received from the competent authority initiated the proceedings u/....
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.... names of person for the whom the assessee has been working along with their PAN and postal address with pin. In response to such notice issued by the AO, the assessee had filed a written submission by stating that the account was opened at the instruction of one Mr. Arun Agarwal and provided his address known to the assessee. On the basis of such information, the ld. AO depute departmental inspector to serve the notice u/s 131 issued to Mr. Arun Agarwal for his personal deposition, the Department Inspector appended by the ld. AO several times attempt to furnish the copy of the same to Mr. Arun Agarwal but he could not succeed. In such a situation, the ld. AO viewed that the contention of the assessee was not acceptable and assessment was c....
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....s below. 5. We after hearing the rival submission of the parties and material available on record. The alleged issue challenged by the assessee has been dealt by the ld. CIT(A) in his order at page no. 14 stating that the ld. AO has followed the procedure laid down in the Act and recorded the reasons which had linked with the material in proposition. Therefore, contention made by the assessee was rejected. Similarly, the ld. CIT(A) on the issue of sanctioning of reassessment proceeding, the ld. CIT(A) in his order at page no. 16 categorically stated that sanction has been granted relevant portion as stated below: "As regard the appellant contention of sanctioning of reassessment proceeding by the higher authority is concerned it is seen ....
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....rated the contention of the assessee wherefrom it finds that the ld. AO had given sufficient opportunity to the appellant to provide the details of beneficiary and to produce so called Mr. Arun Agarwal rather than producing the profit detail and persons, he simply stated that the impugned transactions were 8 years old since he had not attached with such person, therefore, he could not provide the present address where the person so alleged. The ld. CIT(A) also stated in his order that the appellant stated before the ld. AO that he had received 1% commission on the aforesaid transaction and he was merely signatory to the account of M/s. Shakti Agency which was opened on the instruction of Mr. Arun Agarwal and the cash deposit was made in acc....
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....t ground nos. 1 to 5 are taken by the assessee are not sustainable accordingly we dismiss the ground taken by the assessee. 8. The remaining ground 6 to 10 are inter connected, therefore, we are going to consider the same all the five grounds together. The ld. counsel for the assessee submitted that the action of the AO in making adhoc addition of Rs. 17,16,91,393/- is arbitrarily and excessive and the authorities below did not consider the submission of the assessee that assessee has no means and he has hardly able to earn his livelihood for his family and in such circumstances to earn Rs. 1 lakh is too big for him. Besides that the ld. AR also submitted before us that the appellant has made a true statement before the ld. AO stating the ....