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TMI Blog2017 (5) TMI 214X X X X Extracts X X X X X X X X Extracts X X X X ..... o set aside the matter to the file of the AO for consideration of the matter afresh in the light of the documents now produced or that will be produced before the AO. Since, we are setting aside the matter relating to the quantum additions to the file of the AO, the penalty proceedings do not survive and they shall follow a fresh consideration of the matter by the AO - Stay Nos.-243 & 244/Del/2017, ITA Nos. 1979 & 1981/Del/2017 - - - Dated:- 21-4-2017 - Shri G. D. Agrawal, Hon ble President And Shri K. N. Charry, Judicial Member Assessee by : Sh. Salil Kapoor, Adv. Ananya Kapoor, Adv Revenue by : Sh. Umesh Chandra Dubey, Sr. DR ORDER Per Bench All these matters emanate from the assessment and penalty proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore the AO material in support of her claim and during the appellate proceedings also she failed to substantiate her claim with cogent evidence. On these observations the Ld. CIT (A) upheld the additions made by the AO and also confirmed the penalty. During the course of these proceedings before us while we are hearing the stay petitions Ld. Counsel produced by way of Paper Book the copy of the mutual fund statement, copy of Form 16 on two different dates along with Form 12BA, etc. and drew our specific attention to page nos. 14 to 16 in respect of portfolio statement and transactions as contained in the entry dated 25/06/2010 in respect of IDFC equity fund dividend amounting to ₹ 8,56,892/- showing that those entries are in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R submits no objection. At this stage Ld. AR as well as Ld. DR submitted that since the documents need verification at the end of the AO to reach the just tax liability of the assessee no purpose would be served by disposing of the stay petitions alone or to keep the appeals pending as such appeals may be heard and decided at this stage itself. Since both the sides are ready to proceed with the appeals, we proceeded to hear the appeals on merits. 9. A careful consideration of the orders of the authorities below indicates that the assessee failed to substantiate her claim before the AO by producing cogent and convincing evidence. So also even before the Ld. CIT (A) no such exercise was undertaken. Observing that there is no material in su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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