2025 (9) TMI 938

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....assessee are as follows: "1. The assessment order passed u/s 143(3) of Income Tax Act by the Assessing Officer and confirmed by the first appellate authority u/s 250 in bad in law and deserved to be uncalled for. 2. The assessing officer as well as first appellate authority has erred in law and on facts in making and confirming respectively the addition of Rs. 11,12,000/-. The same deserves to be deleted. 3. The appellant craves to reserve his right to add, alter, amend, or delete any ground of appeal during the course of hearing." 3. The case was initially posted for hearing on 16.07.2024. None attended on behalf of the assessee. The case was subsequently posted for hearing on 04.09.2024 and 11.11.2024. The In....

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....om various parties. However, the claim was not substantiated with any confirmation letters or evidence. Hence Rs. 11,12,000/- was added u/s 69A of the Act. The AO determined the total income at Rs. 14,89,280/- as against the returned income of Rs. 3,77,280/-. The same was taxed as per provisions of section 115BBE of the Act. Penalty proceedings u/s 270A of the Act are initiated by AO. 5. Aggrieved by the order of AO, the assessee filed appeal before the CIT(A). The appellant stated that the AO misinterpreted Rs. 8,00,000/- as unsecured loans but the above sum was advances from customers. The CIT(A) observed that no confirmations of customer's advances were given. The appellant also stated that the withdrawn cash was deposited, but comple....

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....ot complied with any of the notices. The Inspector of the Department had also contacted the ld. AR of the assessee, but there was no compliance on 11.11.2024 for 16.01.2025. The assessee has also not filed any written submission and details in support of the grounds raised in the appeal. The assessee has also not requested for any adjournment. 7. On the other hand, the learned Senior Departmental Representative (ld. Sr. DR) for the revenue supported the order of lower authorities. 8. We have head both the parties and perused the materials available on record. The assessee had filed the return of income for AY.2017-18. As discussed in the facts of the case, assessee had deposited cash of Rs. 11,12,000/- in the bank account during demon....