9911796707
TMI Blog2019 (2) TMI 1317X X X X Extracts X X X X X X X X Extracts X X X X ..... that assessee shall be given a fair opportunity of hearing. - Appeal of assessee is allowed for statistical purposes. - I.T.A. No. 1065/HYD/2017 - - - Dated:- 16-1-2019 - Smt. P. Madhavi Devi, Judicial Member And Shri S. Rifaur Rahman, Accountant Member For the Assessee : Shri V. Raghavendra Rao, AR For the Revenue : Shri C. Srinivas Reddy, DR ORDER PER SMT. P. MADHAVI DEVI, J.M. : This is an assessee s appeal against the order of the Commissioner of Income Tax (Appeals)-2, Hyderabad, dated 31-03-2017. Assessee has raised the following grounds of appeal: 1) The order of the Learned Commissioner of Income Tax (Appeals)-2, Hyderabad, dated 31/03/2017 is against law and facts of the case and ought not to have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal, in the matter of the above appeal filed on 22.06.2017. 2. The issues in appeal are the appellate order passed by the Learned Commissioner of Income Tax (Appeals), Hyderabad [CIT(A)] ex-parte by failure to notice the response of the assessee to the posting notices by the office of the CIT(A) and the addition made in the assessment u/s. 68 of the Income Tax Act of ₹ 16,20,50,000/- and disallowance of expenses of ₹ 71,275/-. Assessee received investments from 18 investors during the previous year under the head 'share Application Money' pending allotment. 3. Out of eighteen investors, in the case of nine investors, assessee filed confirmation letters from them specifying the nature and source of investment, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a common human failing. The omission to file Additional Grounds of Appeal occurred for bona fide reasons and not after intentional or deliberate consideration. 9. It is humbly and earnestly prayed that Additional Grounds of appeal be kindly admitted for consideration. Otherwise the interests of assessee will fall in great jeopardy. It is pleaded that admission of Additional Grounds of appeal will be in the interests of justice, in the facts and circumstances of the case . In support of the grounds of appeal, assessee has also filed fresh evidence under rule 29 of the ITAT Rules and sought admission of the same. 2. Brief facts of the case are that, assessee-company filed its return of income for the AY. 2013-14 on 14-03-2015 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... late to the income earned during the year. 3. Aggrieved, assessee filed an appeal before the CIT(A), stating that the investments are not cash deposits but came through account payee cheques. Therefore, the identity of the persons has been proved. The CIT(A), however, observed that inspite of several opportunities given to the assessee, none appeared before him. Therefore, he decided to dismiss the appeal against the assessee. 4. Aggrieved, assessee has filed the second appeal before us along with relevant information in the form of additional evidence. Since the additional grounds of appeal and additional evidences are all in relation to the additions made by the Assessing Officer and no verification of fresh facts are necessary, we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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