9911796707
TMI Blog2017 (11) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... cord. As rightly submitted by the ld. D.R., relief has been given by the ld. CIT(Appeals) to the assessee by deleting the additions made by the Assessing Officer on account of unexplained investment made in Mutual Funds and unexplained cash deposits with ICICI Bank respectively by relying on the correspondence made with Calcutta Province of the Society of Jesus, who runs St. Lawrance High School without giving any opportunity to the Assessing Officer to verify the same. As pointed out by him in this regard, the said correspondence was not even available when the assessment was framed by the Assessing Officer vide an order dated 30.12.2011 passed under section 144/147. Thus we set aside the impugned order of the ld. CIT(Appeals) on the i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer under section 142(1) during the course of assessment proceedings. The Assessing Officer, therefore, was left with no option but to complete the assessment ex-parte to the best of his judgment. In the assessment so completed under section 144/147 vide an order dated 30.12.2011, the total income of the assessee was determined by the Assessing Officer at ₹ 33,76,869/- as under:- (i) Unexplained investment made in Mutual Fund Rs.20,00,000/- (ii) Cash deposits with ICICI Bank Rs.11,55,499/- (iii) Unexplained expenditure incurred through HDFC Credit Card ₹ 2,21,499/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elong to St. Lawrance High School which may had been temporarily diverted but ultimately it has gone back to St. Lawrence High School. There is nothing on record to suggest that Shri Geroge Thomas has in any manner being able to fully siphon of or utilized this money. Hence no income appears to have accrued in the hands of Sri George Thomas. In their reply dated 26.01.2016, Calcutta Province of the Society of Jesus has informed that notice u/s 148 was issued to St. Lawrence High School and order has been passed in that case. Thus any irregularity regarding the source of cash deposit or any other deposit has to be looked into in the hands of St. Lawrence High School. So far as expenditure to credit card is concerned, it is not clear as to wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the investments are stated to have been made. ( 3) That on the facts and the circumstances of the case the Ld. CIT(A) erred in allowing such relief without verifying from the accounts of the school as to how the money had been accounted for in its books of accounts and how the same had been considered for computing total income of the school . 5. At the time of hearing fixed in this case on 11.05.2017, none appeared on behalf of the assessee. Even there was no appearance on behalf of the assessee at the time of hearing fixed in this case earlier on 29.09.2016, 30.11.2016, 11.01.2017 and 23.02.2017. Keeping in view this non-compliance on the part of the assessee, this appeal of the revenue is being disposed of ex-parte qua the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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