2025 (3) TMI 1998

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....Shri Leyaqat Ali Aafaqui ORDER PER BENCH The assessee has filed these three appeals challenging the common order dated 24-12-2009 passed by Ld CIT(A)-3, Mumbai and they relate to the assessment years 2003-04 to 2005-06. 2. None appeared on behalf of the assessee. We notice that these appeals were filed in the year 2013. Since the assessee did not prosecute these appeals, the bench adjo....

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.... in AY 2003-04. 3.2 In AY 2004-05, the AO noticed that the assessee is the proprietor of M/s Evershine Films and he has produced a film named "Tauba Tauba" in that concern. During the course of survey operations, financial statements relating to the above said concern were recovered from the computer system and it disclosed a profit of Rs. 1,41,22,073/- therein. The AO assessed the same. Beside....

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.... the assessee did not furnish any evidences to discharge the burden placed upon him u/s 68 of the Act. Accordingly, we are of the view that the tax authorities have rightly assessed the unsecured loans u/s 68 of the Act. 5.1 With regard to the addition of business profits, we notice that the same was based upon the financial statement recovered from the computer of the assessee. We notice that ....