2023 (11) TMI 389

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Shri Yogesh Kumar U.S., Judicial Member For the Appellant : None For the Respondent : Sh. Vivek Vardhan, Sr. Dr ORDER PER YOGESH KUMAR U.S., JM: This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-31, New Delhi ["Ld. CIT(A)", for short], dated 30/09/2019 for Assessment Year 2007-08. 2. Grounds taken in this appeal are as under: ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt application has been filed. Considering the above facts and circumstances, we are compelled to decide the appeal after hearing the Ld. DR. 4. The brief facts of the case are that assessee company filed its return of income declaring loss at Rs. 53,05,870/-. The assessment u/s 143(3) was completed on 31.12.2009 by making addition of Rs. 1,00,00,000/- on account of compensation received on bre....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....present appeal on the ground mentioned above. 6. The Ld. DR vehemently submitted that the addition of Rs. 50,00,000/- made on account of undisclosed cash credit has not been specifically challenged by the assessee before the Ld. CIT(A), the assessee contested that the said addition claimed to have been made arbitrarily and illegally, but the assessee has produced only confirmation of Treatwell ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....but the assessee has filed a confirmation, thereafter, which does not contain the date and also not contain the seals/stamp of the company. The said confirmation does not even disclose regarding the mode of advance whether by cheque or cash. Though the bank statement produced by the assessee reflects the depositing of 50,00,000/-, but does not indicates as to whom from the said amount has been rec....