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TMI Blog2015 (10) TMI 1486X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the credits were received during the year and further they are unexplained. Nothing was brought on record by the A.O. and only the outstanding amount was brought to tax without examining the nature of the amounts. Moreover, when assessee sought to file additional evidence, in our view, Ld. CIT(A) rejected admission of the same without any valid reason. Assessee is justifying that Managing Director could not appear before the A.O. on the given date due to ill-health. If Ld. CIT(A) has any doubt about the claims made, then it is for the Ld. CIT(A) to ask assessee to furnish necessary evidences. Without doing so the contention cannot be rejected on the reason that necessary evidence was not furnished. Even otherwise, the additions p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In response to the show cause notice, the Managing Director appeared but since there was no business activities in the company, due to problems in real estate business sought time for production of books. The case was again adjourned to 16.12.2010 and assessee seems to have not appeared and accordingly, A.O. completed the assessment as proposed in the show cause notice determining the income at ₹ 90,34,580 under section 144 of the I.T. Act. He also initiated penalty proceedings under section 271(1)(c) and levied penal. 2.1. Before the Ld. CIT(A), it was contended that Managing Director could not appear due to malaria fever and filed additional evidence before the Ld. CIT(A) contesting the action of the A.O. and additions made ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dhoc basis without appreciating the fact that the expenditure is genuine and was wholly laid out for the purpose of business of the appellant. 6. The Ld. CIT(A) erred in confirming the action of the A.O. in not allowing unabsorbed depreciation of ₹ 1,14,789/-. 7. Any other ground that may be urged at the time of hearing. 3. Ld. Counsel at the outset submitted that assessee being a company has its accounts audited and referred to the audited P L account to submit that assessee had only commission income to an extent of ₹ 59,14,298 which resulted in loss after the expenditure during the year. The amounts brought to tax by the A.O. are outstanding liabilities against which assessee also had loans and advances to an exte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned. Nothing was brought on record by the A.O. and only the outstanding amount was brought to tax without examining the nature of the amounts. Moreover, when assessee sought to file additional evidence, in our view, Ld. CIT(A) rejected admission of the same without any valid reason. Assessee is justifying that Managing Director could not appear before the A.O. on the given date due to ill-health. If Ld. CIT(A) has any doubt about the claims made, then it is for the Ld. CIT(A) to ask assessee to furnish necessary evidences. Without doing so the contention cannot be rejected on the reason that necessary evidence was not furnished. Even otherwise, the additions per se cannot be justified without examining the contentions. In view of this, we h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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