TaxTMI 
TaxTMI 
2026 (3) TMI 1667
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....re we proceed to dispose off the appeals on merit, it is necessary to observe that the appeals were listed for hearing for the first time on 15.10.2025. However, none appeared on behalf of the assessee. Therefore, bench directed issuance of fresh notice of hearing through speed post and adjourned the appeals to 11.12.2025. On 11.12.2025 also none appeared. Hence, the matter had to be adjourned to 09.02.2026 on which date again the assessee remained absent. Therefore, appeals were again adjourned to 24.02.2026. Perusal of record reveals that in terms with the directions of the Bench not only notices of hearing were issued on multiple occasions through speed post but were also issued electronically to the email id of the assessee as provided ....
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.... 26.05.2025, 06.06.2025 and 16.06.2025 respectively. All these notices were duly served electronically on to the registered e-mail ID of the appellant and the status of these notices on ITBA system is showing as "Delivered". However, the appellant has not responded to any of the hearing notices." 4. Since the assessee has remained non-responsive despite multiple notices being issued both through post and email, we are of the view that the assessee lacks interest in pursuing the present appeals and is negligent in its approach towards the appeals. For these reasons, we are of the view that the assessee does not deserve any further opportunity. Accordingly, the assessee is set ex parte and we proceed to dispose off the appeals with the ass....
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....goods to the assessee appeared to be non-genuine as the status of their GST registration was found to be inactive. He further observed that no concrete evidence was furnished by the assessee to establish the genuineness of purchases. Therefore, he issued a show cause notice to the assessee to explain why the purchases shown by the assessee should not be treated as non-genuine. Though, the assessee objected to the propose action of the Assessing Officer to treat the purchases and sales as non-genuine, however, rejecting the objection of the assessee, the Assessing Officer proceeded to complete the assessment by treating both the sales and purchases as unaccounted. Ultimately, the Assessing Officer estimated profit @8% on the unaccounted sale....
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....m related parties aggregating to Rs. 250.35 crores. Whereas, the entire loan amount has been invested in the fixed assets of the company. Referring to the balance sheets of the preceding years, the Assessing Officer found increase of unsecured loans from related parties over the years, there is increase in fixed asset. Thus, on analysis of aforesaid facts, the Assessing Officer came to conclude that the assessee is creating huge liability against its sister concerns to facilitate source of capital for its sister concern. After analyzing the pattern of loans availed from sister concerns increase in fixed assets and the credit and debit entries in the bank statement, the Assessing Officer observed that as per the bank accounts, the debits are....
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.... make any compliance so as to improve its case. Even before us, the situation is identical as the assessee has failed to appear. When the Assessing Officer has made addition alleging that sales effected by the assessee are unaccounted, it is for the assessee to come forward and furnish cogent documentary evidence to establish the genuineness of sales and also to prove that they are not out of books. Nothing has been brought on record either before the First Appellate Authority or before us to destabilize the decision of the Assessing Officer. In view of the aforesaid, we did not find any reason to interfere in the decision of the learned First Appellate Authority. 9. In so far as A.Y. 2022-23 is concerned, the Assessing Officer has given....