TaxTMI 
TaxTMI 
2024 (3) TMI 95
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....it is observed from the record that there is a delay of 337 days in filing the appeal before the Tribunal. With respect to belated filing of the appeal, the assessee filed a petition for condonation of delay along with the affidavit and the relevant contents of affidavit are extracted herein below for reference: "1. The petitioner is the wife and legal representative of Late Sri Malleswara Rao Alumuri. 2 ...... 3 ...... 4 ...... 5 ..... 6. In consequent to the order passed U/s. 263 of the Act, AO passed consequential order U/s. 143(3) r.w.s. 263 of the Act dated 31/3/2023 wherein income was estimated on the deposits made in the bank account. 7. Subsequently, the L/R of the assessee was advised by her regular Chartered Accounta....
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.... against the due date of 15/03/2022 thus causing a delay of 337 days. Further, the affidavit of the regular Chartered Accountant is also enclosed which is self explanatory. 13 ......" 3. On perusal of the explanation given by the assessee for filing the appeal before the Tribunal beyond the prescribed time limit, we find that the assessee was prevented by a reasonable and sufficient cause to file the appeal within the stipulated time. Therefore, we hereby condone the delay of 337 days in filing the appeal before the Tribunal and proceed to adjudicate the appeal on merits. 4. Briefly stated the facts of the case are that the assessee is an individual engaged in the business of perishable vegetable ie., Tomatoes on commission basis. The a....
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....ation of the assessment record, it was held that the assessment order was passed without making enquiries or verification which should have been made by the Ld. AO and thereby treated the assessment order as erroneous insofar as it is prejudicial to the interests of the Revenue. Accordingly, the Ld. Pr. CIT issued show-cause notice U/s. 263 of the Act on 22/12/2021 and was served on the same date wherein the assessee was called for certain information and his objections, if any, against the proposed revision of the assessment. Since there is no response, the Ld. Pr. CIT issued another notice on 7/1/2022 and in response the assessee filed his written submissions. On verification of the submissions and the material before him, the Ld. Pr. CIT....
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....nd other grounds that are to be urged at the time of hearing of the case, the appellant prays that the revision order passed by Ld. Pr. CIT U/s. 263 be set-aside, in the interest of justice." 5. At the outset, the Ld. AR submitted that the revision order passed by the Ld. Pr. CIT U/s. 263 of the Act is not in accordance with law inasmuch as the order passed by the Ld. AO is neither erroneous nor prejudicial to the interests of the Revenue. The Ld. AR further submitted that the Ld. AO while passing the assessment order has considered the submissions of the Legal Representative of the assessee who has filed the evidences in support of the cash deposits and has also explained the sources for the cash deposits made by the assessee. The Ld. AR ....
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....e return of income filed by the assessee it is noticed that the gross receipts were shown at Rs. 57,48,000/- only and also there is no evidence on record to prove that the entire cash deposits of Rs. 1,86,15,610/- were made out of the business receipts. The Ld. DR also submitted that during the revision proceedings, the contention of the assessee is that the cash was received from various parties towards sale proceeds and deposited in the bank account and the assessee gets only commission. However, before the Ld. Pr. CIT the assessee did not furnish any details of persons to whom he sold Tomotos and received cash as well as the details of the farmers to whom the amount was claimed to have been transferred after holding the commission. Consi....
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....f Rs. 57,48,000/- and admitted total income @ 8% of the turnover. It is also noticed from the order of the Ld. Pr. CIT that though the assessee claimed that the assessee had received cash from various parties towards sale proceeds of Tomotos and deposited the cash in the bank account, the assessee did not produce any details of purchasers of Tomotos and transactions made with them. The onus is on the assessee to prove the genuineness of source for cash deposits along with the documentary evidence. It is also apparent from the order of the Ld. AO that the Ld. AO had not thoroughly examined the above details nor obtained the relevant details / information / evidence from the assessee before accepting the explanation of Mr. Chinna Rao as well ....