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TMI Blog2015 (9) TMI 185X X X X Extracts X X X X X X X X Extracts X X X X ..... eturn of income declaring loss of Rs. 85,578/-. The assessee had claimed credit of TDS of Rs. 2,369/-. From the Profit & Loss Account, the Assessing Officer noticed that the total turnover of the business of the firm for the financial year 2009-10 was Rs. 12,74,780/-, which included commission of Rs. 14,500/-, gross bill of Rs. 10,68,364/-, service charges of Rs. 1,40,700/- and service tax of Rs. 51,216/-. From the 26AS statement for the financial year 2009-10, the Assessing Officer noticed that gross receipt of the fi rm during the year was Rs. 2,31,54,644/- and TDS thereon was Rs. 5,82,192/-. At pages 2 & 3 of his order, the Assessing Officer has given the names of the parties with whom the t ransactions had been entered into and from who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nly doing the job of outfield staff. Company boss was Mr. Basant Basu. You have any query you can ask Mr. Basant Basu". 3. The representative of Mr. Manish Kishorilal Chatwani, Shri Chandra Prakash Pandey appeared and produced copy of the Power of Attorney given by the assessee-firm to Manish Chetwani and the letter of employment. These letters have been reproduced in the assessment order. From these letters, the Assessing Officer concluded that the amount s received were not disclosed by the fi rm in it s return of income and, accordingly, he made the addi tion of Rs. 2,30,35,767.10, after excluding the receipt s on account of Ruchi Soya Industries ltd. of Rs. 66,805/- and Rs. 1,19,218/- on account of Mcleod Russel India Limited totallin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mbai vide Account No. 143100100000165 and the Union Bank of India, Bhat Bazar Branch, Mumbai vide Account No. 315901010036770 in the name of Shri Minish Kishorlal Chatwani of Mumbai, Shree Ganesh Karupa Housing Society, B-20, 1/3 Sector No. 10, Airoli, Navi Mumbai 400708 by using the PAN Card of the Appellant Firm without the knowledge of the partner s and both the bank Accounts were used depositing the receipts of Rs. 2,31,54,644.00. Shri Manish Kishorlal Chatwani admitted that he acted and carried out the business without knowledge of Appellant and in this respect, a written submission signed by Shri Manish K Chatawani was submitted before the Learned Commissioner of Income Tax (Appeal)-9 and whereas the Appellate authority did not consid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. For that the Appellate Authority did not give proper opportunity to the Appellant of being heard before passing the Appellate Order. 6. The assessee has al so taken the following additional ground of appeal:- 1. For that, on the facts and in the circumstances of the case, the addition of Rs. 2,31,54,644/- by the Asse ssing Officer do not belong to the appellant and the same should be added in the hands of Mr. Manish K. Chatwani who is assessed by the Income-tax Officer, Ward 22(3) -2, Mumbai in view of the evidences produced by the Appellant. 2. For that, on the facts of the case, even assuming but not admitting that the turnover relating to Rs. 2,31,54,644/- belongs to the Appellant, the entire amount of Rs. 2,31,54,644/- cannot b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P. No 17/Kol/2015 by observing as under:- "The assessee in his petition has referred to this fact in para 14, which reads as under: "14. Your petitioner states that the Learned Appellate Authority admitted that the two bank accounts were opened with Saraswat Co-operative Bank, Camac Bhunder Branch at Mumbai vide Account No. 143100100000165 and the Union Bank of India, Bhat Bazar Branch, Mumbai vide Account No. 315901010036770 in the name of Shri Minish Kishorlal Chatwani of Mumbai. Shree Ganesh Karupa Housing Society, BI. 20, 113 Sector No. 10, Airoli, Navi Mumbai 400 708 by using the PAN Card of the Appellant Firm without the knowledge of the partners and both the bank Accounts were useddepositing the receipts of Rs. 2,31 ,54,644.00. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed three bank ac counts on behal f of the firm without intimating the partner of fi rm on the strength of power of attorney given by the partner of the firm. Bank Name Account Number The Saraswat Co-op. Bank, Carnac Bunder Branch 143100100000165 Union Bank of India, Bhat Bazar Branch 315901010036770 Indian Overseas Bank, Sanpada, Mumbai 1502022000000504 Earlier the assessee was contesting that the receipts did not belong to it. However, now ld. counsel for the assessee has specifically stated before us that the assessee owns up all the receipt s and, therefore, now the addition has to be made in the hands of assessee in respect of income embedded in these receipts. We find that the Bank accounts, in which the impugned amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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