2025 (3) TMI 1785

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....present appeal has been filed by the assessee challenging the impugned order 14.11.2024 passed u/s 250 of the Income Tax Act, 1961 ('the Act'), by the National Faceless Appeal Centre, Delhi / CIT(A) Mumbai, for the A.Y 2013-14. The assessee has raised the following grounds of appeal: 1) The learned CIT(A) erred in facts or in law in upholding the order of the AO adding Rs. 1,50,340/- to t....

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....ore I have decided to take up all these grounds together and to adjudicate the same through the present consolidated order. 3. As per the facts of the present case, the assessee originally filed his return of income for the year under consideration declaring income as Rs. 30,383/-. However on the basis of information received from ITO(Inv), Thane that assessee is beneficiary, who had traded in ....

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....sponse to the final show cause notice assessee reiterated the same facts and also submitted the documents called for by the AO. The assessee has again reiterated that he has not dealt with any script of M/s Aricent Infra Ltd., (Presently known as Kyra Landscape Ltd.). But still AO concluded that assessee is beneficiary and has traded in the bogus script of M/s Aricent Infra Ltd., (Presently known ....

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....cript of M/s Aricent Infra Ltd., (Presently known as Kyra Landscape Ltd.). And in this regard assessee has also submitted all the required documents as called for by the AO. It is pertinent to mention here that AO is not merely adjudicator but he is also an investigator therefore, duty cast upon the AO to verify the said facts once a specific stand has been taken by the assessee and by not doing s....