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TMI Blog2014 (4) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... pertains to A.Y. 2008-09. As per From No. 36 filed originally the appeal is barred by limitation by 363 days. When this was pointed out to the assessee a revised Form No. 36 was filed to submit that the date of communication of CIT(A)'s order was wrongly shown as 07.03.2011. In fact the CIT(A) passed the order on 17.02.2012 and it was received by the assessee on 07.03.2012 and the appeal having b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gard and carefully perused the record. 5. Assessee is a trader in shares and securities. For the year under consideration he declared total loss of Rs.2.97 crores. Though the return was processed under section 143(1) of the Act it was taken up for scrutiny and notice under section 143(2) was issued on 17.08.2009 and thereafter the case was listed for hearing from time to time. During the course o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... worthiness of the lenders except in the case of Ms. Jalpa K. Shah. The assessee had shown loan liability of Rs.74,47,584/- out of which it has secured loan of Rs.11,93,139/- from a bank and the remaining amount of Rs.63,54,446/- was referable to unsecured loans. The assessee has only given the names and address of some persons and even in the remand proceedings the learned A.R. failed to produce t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ness and creditworthiness and hence deserves to be added under section 68 of the Act. He accordingly directed the AO to enhance the declared income to this extent. 7. Aggrieved, assessee is in appeal before us on these two additions. None appeared on behalf of the assessee and no material, whatsoever, was filed before us to contradict the findings of the CIT(A). As can be noticed from the order p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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