TaxTMI 
TaxTMI 
2025 (5) TMI 1944
X X X X Extracts X X X X
X X X X Extracts X X X X
....ances of the case, the CIT (Appeals)-20, New Delhi (hereinafter referred to as "CIT(A)") erred in law and in the fact & circumstances of the case by partly allowing the appeal by passing the order dated 27.02.2024 Ground No. 2 On the facts and circumstances of the case, the CIT(A) has erred in law and in the facts of the case by confirming the addition under Section 69A of the Income Tax Act, 1961 (the Act) of Rs. 1,00,00,000/- as unexplained income from undisclosed sources. Ground No. 3 On the facts and circumstances of the case, the CIT(A) has erred in law and in the facts of the case by confirming the rate of tax under Section 115BBE of the Act as 60%. Ground No. 4 On the facts and ci....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ther relevant details/documents alongwith bank statements of the assessee through e-mail. During the survey operation, a diary and other loose bills/documents were impounded. On the basis of the entries shown in the Diary found at the above said premise, the assessee had accepted that he had given cash loans to the different entities/parties amounting to Rs. 1,00,00,000/- is the income out of books earned from undisclosed sources during the F.Y. 2016-17. The assessee had surrendered the said amount and offered the same for taxation. Accordingly, a sum of Rs. 30,00,000/- as self-assessment tax against the income of Rs. 1,00,00,000/- was paid by the assessee. But on perusal of ITR filed for the A.Y. 2017-18 and the reply/submission of the AR ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ubsequently, a nation-wide lockdown was put in place in India, with effect from midnight of March 24, 2020, as a preventive measure to control the spread of the pandemic, Coronavirus (COVID-19). 10. That due to the oversight made by the counsel advocate who was representing the case of the Appellant before the Hon'ble CIT(A)-20, the Appellant never came to know about the fact the no appeal effect has been given by the Ld. AO. 11. Thereafter, the Appellant (when being 61 years of age) got diagnosed with COVID -19 on April 20, 2020 (medical report annexed as Annexure No. 1), severely deteriorating his physical and mental health, which ultimately disabled him to being vigilant enough to check with his counsel about the pe....
X X X X Extracts X X X X
X X X X Extracts X X X X
....in the month of January 2024. 16. That the deteriorating health of the Appellant due to COVID-19 which disabled him to be vigilant enough and also impeded his ability to keep a check with his counsel advocate/ chartered accountant about the pending litigation with the ITA coupled with the fact that the counsel advocate/ chartered accountant did not advise the Appellant properly with respect to the timelines pertaining to filing of appeal before the higher appellate authorities has resulted in this delay in filing the instant appeal before your Honours." and also submitted that such a delay is neither intentional nor deliberate deserves to be condoned." 4. The Ld. DR resisted the prayer of assessee / appellant by stating that the....
X X X X Extracts X X X X
X X X X Extracts X X X X
..../parties amounting to Rs. 1,00,00,000/- is the income out of books earned from undisclosed sources during the F.Y. 2016-17. The assessee had surrendered the said amount and offered the same for taxation. Accordingly, a sum of Rs. 30,00,000/- as self assessment tax against the income of Rs. 1,00,00,000/- was paid by the assessee. 4. Subsequently, the assessee has e-filed return of income for the A.Y. 2017-18 on 07.11.2017. But on perusal of ITR filed for the A.Y. 2017-18 and the reply/submission of the AR of the assessee, it is found that the assesee has not offered the income of Rs. 1,00,00,000/-, which was surrendered by the assessee during survey operation, while computing/filing the ITR for the A.Y. 2017-18. The assessee was ask....
X X X X Extracts X X X X
X X X X Extracts X X X X
....00/- (rupees one crore) nor any related documents were recorded in the books of accounts maintained. You had also admitted that as this amount of Rs. 1,00,00,000/- was earned from undisclosed sources hence, it was not recorded in your books of account. You had also clarified that this undisclosed income was not recorded in your books of account as it was earned from work other than your normal business. Therefore, it can not be ruled out any malafide intention of the assessee on this issue. Hence, an amount of Rs. 1,00,00,000/- as unexplained income from undisclosed sources and treating the income other than of books of account u/s 69A of the Income Tax Act, 1961 is being added to the taxable income of the assessee for the year under consid....