TaxTMI 
TaxTMI 
2024 (9) TMI 1184
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....d for hearing, neither the assessee respondent nor any of its authorised representatives appeared before us to assist the Bench and argue the matter. There is no application for adjournment either. However, the Bench was of the opinion to dispose off the matter in the absence of the assessee respondent after hearing the learned Departmental Representative and on the basis of material available on record. 2. Since both these appeals pertain to the same assessee involving common issues arising out of identical set of facts and circumstances, except variation in figures, therefore, as a matter of convenience, these appeals were heard together and are being disposed off by way of this consolidated order. However, in order to understand the i....
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....ee unearthed, which otherwise would have escaped assessment, as such the Ld. CIT(A) has erred in deleting the addition made by the AO on the basis of impounded material. 4. Any other grounds that may be raised during the appellate proceedings." 4. Facts in Brief:- A survey action under section 133A of the Income Tax Act, 1961 ("the Act") was conducted at the business premises of M/s. Tirupati Developers. During the survey proceedings many incriminating documents related to the assessee were found and impounded. It was ascertained that the assessee has entered into cash transaction which was given to M/s. Tirupati Dvelopers, and the assessee is a beneficiary of cash related transaction during the previous year relevant to assessm....
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....r of the AO and the submission made by the appellant. The legal representative of the assessee is a house wife. She does not know anything about the transaction made by the appellant, as the appellant was not discussing the business transactions with her. The assessee was suffering from ill health from past few months before his demise because of which he couldn't reply at the time of assessment proceeding. Due to his ill health the assessee could not make the compliance against the notices issued u/s 148 & 142(1) of the Income Tax Act, 1961. The addition to total income of Rs. 51,70,000/- was made on account of loose paper/register wherein amount paid in cash has been framed as undisclosed income u/s 69C as p....
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....ord is not sufficient to support the income earned by the appellant. The appellant has relied on the case law of Nagarjuna Construction Company vs Department of Income Tax on 9 February, 2012 IN THE INCOME TAX APPELLATE TRIBUNAL, Hyderabad. Further the appellant has made various judicial references in his submission regarding addition made u/s 69A. In view of the above facts and circumstances and the judicial references quoted by the appellant I am of the opinion that the additions made by the AO of Rs. 18,58,555/- on account of undisclosed income u/s 69A is unjustified and deserves to be deleted. Hence ground no 4 is allowed." 6. None appeared on behalf of the assessee respondent. 7. The learned Departmental Representative s....
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....hich were added by the AO based on the impounded documents, considering importance and value of noting made in the documents. 2. On the fact and in the circumstances of the case, Ld. CIT(A) has erred in deleting the addition of Rs. 81,31,000/- on account of unexplained expenditure u/s 69C of I.T. Act and addition of Rs. 30,82,000/- on account of undisclosed income ignoring the fact that the assessee was failed to explain the transaction recorded in the impounded documents, as such the order was completed u/s 144 of the I.T. Act. 3. On the fact and in the circumstances of the case, Ld. CIT(A) failed to appreciate the facts that due to the survey conducted at the premise of M/ Tirupati Developers, the huge transaction of Rs.....