AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2025 (1) TMI 1800
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....ntral) Nagpur Vs. Premkumar Arjundas Luthra (HUF) [2016] 69 taxmann.com 407 (Bombay). 2. In the facts and circumstances of the case and in law, initiation of re- assessment proceedings is illegal and without jurisdiction being initiated without fulfilling all the requisite conditions specified in section 147 r.w.s. 148, 148A, 149, 151 and 151A of the Act. 3. In the facts and circumstances of the case and in law, learned Commissioner of Income Tax (Appeals), NFAC has erred in upholding order of learned Assessing Officer making addition of Rs.87,07,200/- as unexplained money u/s.69A of the Income-tax Act, 1961 and charging the same to higher rate of tax u/s 115BBE of the Act. 4. In the facts and circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals), NFAC has erred in upholding order of Ld. Assessing Officer treating the gross receipts of Rs. 3,27,46,118/- and gross machine rent of Rs. 1,93,801/- as business income. 5. In the facts and circumstances of the case and in law, the Ld. Assessing Officer has erred in not allowing credit of TDS amounting to Rs.3,31,337/- which is verifiable from Form-26AS available with the dep....
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.... of the Act 87,07,200 3 Variation in respect of contract receipts 3,27,46,118 4 Variation in respect of rental income 1,93,801 5 Total Income/Loss determined as per the above proposal 4,16,47,119 5. Aggrieved with the aforesaid additions by the Ld. AO, assessee preferred an appeal before the Ld. CIT(A), however, the assessee remain non-compliant again before the First Appellate Authority also, therefore, after dealing briefly on the merits of the issue, Ld. CIT(A), affirmed the findings by Ld. AO and had confirmed the additions, the appeal of the assessee, thus, was dismissed. 6. Dissatisfied with the order of First Appellate Authority, the assessee is in appeal before us in the present case. 7. Before us, Ld. AR of the assessee have raised certain contentions qua the additions made by the Ld. AO, as per statement of facts furnished before us, the same is culled out as under: 1. During the assessment year 2018-19 i.e. financial year 2017-18. Assessee has doing transporting business. They have transporting the Sand & Mu rum to their party. 2. TDS has been deducted by the parties on bill raised to the parties for transporting o....
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....d on aforesaid submissions, it was the prayer by Ld. AR that the assessee was in actual business during the year under consideration, to substantiate such contentions Ld. AR took us to the Balance sheet and P & L A/c of the assessee, showing sale of Rs. 5,05,80,978/- including GST Sale and VAT sale, however, on being queried about the GST / VAT registration and returns under such statutes filed by the assessee, Ld. AR was unable to substantiate with any documentary evidence, but tried to satisfy the query by submitting a copy of e-registration certificate issued by office of the Engineer-in- Chief, Public Works Department (PWD), CG, dated 16.09.2020 (printed on 17.09.2020), which in fact is a document came into existence after 31.03.2018 i.e., after the end of relevant FY 2017-18, thus, was not of any help for the assessee in the present case. It is further submitted that the receipts in Form 26AS are further supporting the aforesaid claim. It was the submission, therefore, that the addition of entire receipt in Bank account and addition on account of withdrawal during the relevant year cannot be subjected to tax in its entirety, only for the reason that, assessee could not substan....
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....exercise could have been done either by the Ld. CIT(A), may be by himself or by directing the Ld. AO, however, the First Appellate Authority, who has the powers coterminous with that of the Ld. AO, had not think it fit to exercise the same. On perusal of the additional evidence furnished before us like copy of Form 26AS, copy of bank account with State Bank of India, Axis Bank and certain other documentary evidence including Balance Sheet and Proft & Loss A/c for the relevant period to substantiate that the assessee was carrying on real business activities of transportation, it can be inferred that the assessee was engaged in such activities. However, since such additional evidence (having certain uncorroborated facts as discussed hereinabove) are not furnished by the assessee before the revenue authorities, though there was no sufficient cause for which the assessee was unable to substantiate his non-compliance, still the addition of entire receipt without causing any enquiry from any of the parties from whom the assessee had received such sums in his bank accounts, cannot be considered to be justified or reasonable, therefore, in the interest of justice, we find it appropriate to....
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....he following documents for kind consideration :- SI. No. Particulars of Documents Page Nos. 1- Form 26AS for Assessment Year 2018-19 1-2 2- Bank statement of current account no. 0031066143307 maintained with State Bank of India 3-18 3- Bank statement of current account no. 914020023420632 maintained with Axis Bank 19-31 4- Bank statement of current account no. 42370100005905 maintained with Bank of Baroda 32-33 5- Account Statement of M/s Sai Traders in the books of: a) Auto Care Centre b) Swastik Tyres c) Kesar Earth Solutions d) M/s Gurmail Singh and Sons 34-45 6- Account statement of Vehicle Loan availed from Cholamandalam Investment and Finance Co. Limited. 46-53 7- Copy of confirmation of payment from office of Gram Panchayat Hasda, Janpad - Abhanpur, Distt: Raipur (Chhattisgarh) 54 8- Balance Sheet and Profit and Loss account of M/s Sai Traders for financial year 2017-18 55-56 9- Medical Reports of Shri Harish Pandey 57-61 5- Under these circumstances, it is humbly prayed that the Hon'ble Tribunal may kindly be pleased to admit these evidences under rule 29 of the ITAT Rules, 1963 and may kindly be pleased to consider the same while adjudicati....