2025 (11) TMI 1295

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.... 1.1 The ex-parte order passed u/s.250 on 13.06.2025 for A.Y.2015-16 by NFAC.CIT(A), Delhi (for short CIT(A)], upholding the addition of Rs. 5,44,75,025/- received from Shiv Shakti Industries as unexplained cash credits u/s.68 of IT Act is wholly illegal, unlawful and against the principles of natural justice. 1.2 The Ld. CIT(A) has erred in disposing of the appeal ex-parte on the ground of non-response to the notice of hearing, though there was sufficient cause for non-compliance to the said notices of hearing issued in appellate proceedings. 1.3 The Ld. CIT(A) ought to have allowed sufficient opportunity of hearing as well as passed a speaking and reasoned order after considering the material produced before AO. Thus,....

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....O and confirmed by CIT(A) to hold the said sum of Rs. 5,44,75,025/- received from M/s Shivshakti Corporation as unexplained cash credit u/s 68 are not admitted by the appellant in so far as the same are against him. 2.4 Without prejudice to above and in the alternative the Id. CIT(A) ought not to have held the entire amount of Rs. 5,44,75,025/- which showed in balance sheet of M/s Shiv Shakti Industries as taxable income instead of restricting to the net profit there from after considering the computation of income furnished. Thus, the impugned addition is highly excessive and calls for Null. It is therefore prayed that the addition of Rs. 5,44,75,025/- confirmed by the AO should be deleted or in the alternative reduced. ....