TaxTMI 
TaxTMI 
2025 (7) TMI 596
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.... of Rs. 69,21,600/- Ld. CIT(A) not justified by upholding an addition of Rs. 5,53,728/-by considering 8% of Rs. 69,21,500 without considering the reply and without taking into the consideration return filed by the assessee as the Rs. 69,21,600/- represents sales proceeds deposited in the Bank Account and which (sales proceeds) was very much apparent in ITR filed by the assessee. The Ld. A.O. make this addition only by mentioning in para 4 that there is no business proof provided by assessee. Hence, the shop establishment Act certificate as proof of business, sales and purchase bills, Copy of ITR, P&L, Balance sheet and Capital gain report was submitted to CIT Appeal along with application u/s 45A. However, Ld. CIT Appeals without considerin....
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....- during the year. Notice u/s. 148 of the Act was issued on 23-03- 2022 after recording reasons and was duly served upon the assessee. The Assessing Officer observed that the bank account details received from Botad Peoples Co-operative Bank indicates that total credit entries including cash deposits is that of Rs. 69,21,600/-. The statutory notices were issued to the assessee but no documentary evidence was placed on record and therefore the Assessing Officer made addition to the extent of 8% of cash deposits which in total was Rs. 69,21,600/- and made addition of Rs. 5,53,728/- as unexplained u/s. 69A of the Act. 4. Being aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed (not allowed) ....
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....ny returns been filed by the appellant assessee to this Appellate authority. It can be said that the appellant assessee has not filed the GST and VAT returns which was compulsory for the appellant assessee to file under the GST Act 2017. In absence of such proof it is difficult to accept the contentions of the appellant and hence Ld. CIT (Appeal) has disallow the appeal on this basis only. But Ld. CIT (appeal) fails to consider the Assessee's reply dated 18.11 2024 which is attached in Annexure A 2. The Ld AO merely observed in para 4 of the assessment order that no business proof was submitted. However, all relevant documentary evidences were furnished during the appellate proceedings. 3. Further Assessee sub....
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....n 263 dated 11.03.2025 without affording any further opportunity or seeking any additional clarifications from the assessee, which is against the principles of natural justice. 3. A copy of the assessee's reply before PCIT is annexed for kind consideration in Annexure C. Prayer In light of the above submissions and the documents placed on record, it is most respectfully prayed that the Hon'ble Tribunal may kindly: Delete the addition of 5,53,728/- made on account of alleged unexplained business income. Delete the addition of 58,695/- made towards the share sale proceeds Pass any other relief as deemed fit and proper in the interest of justice." 6. The ld. D.R. relied upon the ....