2023 (6) TMI 931

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....A, ACCOUNTANT MEMBER : This appeal filed by the assessee is directed against the order of ld. CIT (A)-14, New Delhi dated 03.12.2018 for the AY 2014-15. 2. The grounds of appeal taken by the assessee are as under :- "1. The CIT(A) has grossly erred on facts and in law in upholding the assessment order assessing the income at Rs. 84,83,490/-. The additions made by the AO and upheld b....

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.... law and contrary to facts on record and based on mere guesswork and surmises and conjectures. 6. That in view of the facts and circumstances of the case and in law, the CIT(A) has erred by confirming the disallowance u/s 80 C of the income tax act for the payments made to LIC and other amounting to Rs made by the AO. 7. The additions made and the observations made are unjust, un....

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....t assessee has shown business income of Rs. 6,10,507/-. Assessee was asked to explain the basis of arriving at the business income of Rs. 6,10,507/- and the evidences of 80C & 80D deductions. Since there was no compliance AO proceeded to estimate the business income at Rs. 7,50,000/- which is resulted in another addition of Rs. 1,39,493/-. In absence of detailed documentary evidence, claim of dedu....

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.... confirmed and held that estimated addition, which is only a source based addition and gets telescoped against the application based additions of cash deposits in bank account, is not required and deleted the same. 5. Against this order, assessee is in appeal before us. This appeal was pending for a long time and nobody was present at the time of hearing. Hence, we are going to adjudicate the a....