2023 (6) TMI 1284

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....8. 2. The assessee has raised the following ground:- "1.1 The learned AO has erred in making addition of Rs. 15,00,000/- u/s 143(3) of the I.T. Act, 1961. 1.2 The learned AO has erred in rejecting books of accounts of the assessee u/s 145(3) of the I.T. Act, 1961. 2. The appellant craves her rights to add, delete, amend any of the grounds on or before the hearing." 3. None appeared on behalf of the assessee however, the Bench decided to proceed the matter on merit based on the materials available on record, concerning the issue in question. 4. The brief facts of the case are that the assessee is engaged in the business of trading of jewellery (bullions) and share/ commodity/futures. The assessee is also a partner in a partnership f....

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....lant has not produced books of account of trading bullions &jewellery along-with bills/vouchers of all expenses debited in P&L account. The stock register could not be verified, hence details pertaining to trading and manufacturing concern in point no. 35(a) and 35(b) and material consumed/finished goods produced ratio in point no. 40 of Form 3CD had not been given. In the present case, proper opportunity was given to the appellant to produce all relevant material/facts of the case, but neither the appellant nor his AR produce books of account of trading of bullions &jewellery and bills/vouchers. Thus, it is evident that the appellant intentionally resorted the delaying tactics and not produced the books of accounts. In absence of books of ....

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....(3) of the Act by invoking the provisions of section 145(3) of the Act as the appellant did not produce books of account, bills/vouchers of all the expenses, the addition made by the AQ amounting to Rs. 15,00,000/- is hereby confirmed and ground of appeal in this regard is dismissed." 6. Aggrieved by the order of CIT(A) the assessee has filed the appeal before us. The assessee or his representative never appeared before us for more than 7 hearings or never filed any written submissions or documents. 7. We have heard the ld. DR and perused the material available on record. None appeared on behalf of the assessee during the course of hearing. We observed that the ld. AR for the assessee was absent for 7 hearing, so toady we opinioned that b....