TaxTMI 
TaxTMI 
2023 (6) TMI 220
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.... assessee. The Ld. CIT (A) ought to have appreciated that the AO had rightly added the income U/s. 69A of the Act as the assessee failed to substantiate his claim and contradictory statements given. 3. The Ld. CIT(A) is not correct in deleting the addition of Rs. 91,50,000/- as the assessee failed to prove the sources for the amount and should have appreciated the facts brought out by the AO. 4. The Ld. CIT (A) is erred in deleting the addition even though the assessee failed to produce proper books of account and simply basing on the confirmations and affidavits, which is an afterthought and self-serving. 5. Any other ground that may be urged at the time of hearing." 3. The assessee has filed the Cross Objection No. 24/Viz/2022 (AY 2019-20) and raised the following Grounds: "1. The order of the Deputy Commissioner of Income Tax, Central Circle-1, Guntur dated 06/07/2021 is opposed to law and the facts of the case. 2. The execution of search warrant on the Inspector of Police, Dargamitta PS, Nellore drawing of Panchanama and completion of search on 16/03/2019 are in gross violation of the provisions of section 132 and 132A of the Act.....
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....y discussions regarding the cross objections being filed as my Chartered Accountant was busy due to his tax audit and income tax return filings. Upon follow up from the Chartered Account, I realized the delay and immediately forwarded the signed Memo of Cross Objections on 28/11/2022 for the purpose of filing. I state that I was in regular touch with my Chartered Accountant from the time of the receipt of the appeal memo from the Registrar. 5. I state that the cross objections are filed on 28/11/2022 with a delay of 73 days as computed from 17/09/2022 through registered speed post. The delay was neither intentional nor deliberate and was caused on account of reasons beyond my control, for which I sincerely regret." 6. On perusal of the reasons advanced by the assessee for not filing the Cross Objection within the stipulated time which is due to the reason that the assessee was in abroad at the relevant period, we find that there is a reasonable and sufficient cause which prevented the assessee in filing cross objection before the Tribunal within the prescribed time limit. Therefore, in our considered view this is a fit case to condone the delay and accordingly we hereby....
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.... of the assessee. Similarly, out of Rs. 91,50,000/-, the assessee stated that Rs. 7 lakhs belongs to his Mother Smt. Swayamprabha and Rs. 6 lakhs belongs to his wife Smt. Nischala. The balance amount of Rs. 6.5 lakhs belongs to him. The Ld. Assessing Officer found that the claim of the assessee that Rs. 7 lakhs received as an advance towards sale of Flat at Nellore is a concocted one and therefore disallowed the same. Further, the Ld. AO also rejected the claim of the assessee's wife on the explanation with regard to source of cash of Rs. 6 lakhs and added the same U/s. 69 of the Act. The Ld.AO also did not accept the explanation for the source of cash of Rs. 6.50 lakhs in the assessee's name and treated it as undisclosed income of the assessee U/s. 69A of the Act. The Ld.AO, thus made additions aggregating to Rs. 91,50,000/- to the total income of the assessee for the AY 2019-20. Aggrieved by the order of the Ld. AO, the assessee filed an appeal before the Ld. CIT(A). During the first appellate proceedings, the assessee made various submissions and submitted that the sworn statements and affidavits of the various parties who owned the cash seized from the assessee. Considering the....
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....ure that the assessee has not understated the income or has not computed excessive loss or has not under-paid the tax in any manner, shall serve on the assessee a notice requiring him, on a date to be specified therein, either to attend the office of the Assessing Officer or to produce, or cause to be produced before the Assessing Officer any evidence on which the assessee may rely in support of the return: Provided that no notice under this sub-section shall be served on the assessee after the expiry of six months from the end of the financial year in which the return is furnished." 11. As per the proviso to section 143(2), no notice shall be served on the assessee after the expiry of six months from the end of the financial year in which the return is furnished. In the present case, the assessee has filed his return of income for the AY 2019-20 (FY-2018-19) on 18/08/2019 and the notice U/s. 143(2) ought to have been served on or before 30/09/2020. Whereas the Ld. AO has issued notice U/s. 143(2) on 12/10/2020 after expiry of six months from the end of the financial year (FY 2019-20) in which the return is furnished. It therefore, in our considered view, attracts the p....