TaxTMI 
TaxTMI 
2024 (8) TMI 804
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.... the assessment order dated 27.12.2016 passed under section 144 r.w.s. 147 of the of the Income Tax Act, 1961 (the Act) by the Income Tax Officer, Ward 18(1)(3) [Ld. AO] , was dismissed. 2. The Assessee is aggrieved and has preferred appeal raising the following grounds: A. NO COGNIZANCE BY THE LEARNED CIT(A) OF THE SUBMISSIONS MADE BY THE APPELLANT 1. The Appellant had made submission before the learned CIT (A) against the notices under section 250 of the Act vide letter dated 7th June, 2023 2. On the facts and circumstances of the case and in law, the learned CIT (A) when passing the order under section 250 of the Act states in Para 1. that the Appellant has not filed any response to the notice and hence the ....
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....llant to the tune of Rs 1.80 Crores as income of the Appellant 10. The Assessing Officer and the learned CIT(A) has without the proper examination of the facts and circumstances of the case, made/confirmed an addition to the total income of the Appellant under section 68 of the Act 11. In the view of the above, the said order passed by the Assessing Officer/the learned CIT(A) are without appreciating the fact that the amount received by the Appellant was a refundable deposit which in no case can be considered as the income of the Appellant 12. In the view of the above it is amply clear that the said order passed by the Assessing officer and confirmed by the learned CIT(A) is bad in law and hence should be set asid....
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....ng the Assessee to furnish details to prove identity, credit worthiness and genuineness of the transaction on 22.9.2016, but the same was not complied with. Further notices were issued. On 25.4.2016, the Assessee sought adjournment. Subsequently, it was stated that the above sum was sent to him in his HSBC account by M/s. Planet International Holding Ltd., UAE. Mr. C.P. Sivraj who is the Chairman of the company for his housing project in Dubai. The Assessee did not file any details of unsecured loans/advances taken such as confirmation, copy of balance sheet, bank statements or any documents to establish the identity, credit worthiness and genuineness of the transaction. Therefore, the Ld. AO examined the Assessee under section 131 of the A....
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..... On one of the occasions, the Assessee sought adjournment but despite that no submissions were made. Therefore, the Ld. CIT(A) decided the appeal on merits of the case and confirmed the additions. He further reached to the conclusion that the reopening of the assessment is also valid. The Assessee is aggrieved with the appellate order and is in appeal before us. 6. The Ld. Authorised Representative, Shri Madhur Agarwal submitted that the Ld. CIT(A) has failed to consider the various submissions made by the Assessee and incorrectly held that the Assessee has not submitted any details. He produced before us e-proceedings response acknowledgement wherein the Assessee has submitted written submission containing 7 pages, bank statement of th....
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....orthiness of the lender as well as genuineness of the loan to the satisfaction of the Ld. AO. Thus, it resulted in the addition. The Ld. AO also recorded statement of the Assessee under section 131 of the Act in which Assessee admitted to have received the above sum but could not explain the ingredient under Section 68 of the Act to the Ld. AO. Thus, the addition was made by the Ld. AO. The Ld. CIT(A) dismissed the appeal of the Assessee on merits as well as against the re-opening of the assessment considering the Assessee has not submitted any response. Before us, the Assessee has submitted e-proceedings acknowledgement wherein on 7.6.2023 the Assessee has submitted various submissions including written statement as well as several judicia....