2023 (2) TMI 709

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....ainst order dated 13.10.2020 of learned Commissioner of Income-Tax (Appeals)-29, New Delhi for the assessment year 2018-19. 2. When the appeal was called for hearing, none appeared on behalf of the assessee. Even, the assessee has not filed any application seeking adjournment. On perusal of record, it is observed, though, the appeal has been listed for hearing on eight occasions earlier, beginn....

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.... on the ground that due to restriction imposed on account of COVID-19, the appeal could not be filed in time. Being satisfied with the reason shown, I am inclined to condone the delay and admit the appeal for adjudication on merits. 4. In ground no.1, assessee has challenged addition of Rs.1,48,000 under Section 69A of the Act. 5. Briefly, the facts are, the assessee is a resident individual....

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....nd perused the material available on record. 8. Undisputedly, in course of search and seizure operation conducted under Section 132 of the Act, cash amounting to Rs.1,48,000 was found in the residential premises of the assessee. Though, in course of assessment proceedings, the Assessing Officer called upon the assessee to explain the source of cash found, however, the assessee did not comply. E....

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....ssessing Officer called upon the assessee to explain the source of jewellery, the assessee could not furnish any evidence. Therefore, the Assessing Officer treated the amount of Rs.6,79.020 as unexplained investment under Section 69C of the Act and added to the income of the assessee. The addition made was sustained by learned Commissioner (Appeals). 12. I have considered submissions of learned....