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TMI Blog2020 (1) TMI 495X X X X Extracts X X X X X X X X Extracts X X X X ..... mon order for the sake of convenience and brevity. 2. None appeared on behalf of the assessee despite service of notice. We decided to proceed exparte. 3. Having heard the ld. DR at length, we have carefully perused the orders of the authorities below. ITA No. 3156/DEL/2016 [A.Y 2010-11] 4. Briefly stated, the facts of the case in are that search and seizure action u/s 132 of the Income tax Act, 1961 [hereinafter referred to as 'The Act' for short] was conducted on M/s Century Communication Group of cases on 11.03.2011. The assessee was also covered u/s 132 of the Act. Statutory notices were issued and served upon the assessee, in compliance to which, the assessee chose not to file return of income. However, the assessee filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the entire purchases of fixed assets were treated as bogus and addition of Rs. 161.01 crores was made. 9. The assessee carried the matter before the ld. CIT(A) but without any success. 10. During the appellate proceedings also, the assessee could not justify the genuineness of the cash credits nor could furnish any evidences in support of its claim of purchases of its assets. 11. While upholding the addition made u/s 68 of the Act, the ld. CIT(A) held as under: "34.8.2 The above decision of the Hon'ble Delhi High Court has been affirmed by the Hon'ble Supreme Court in Navodaya Castles Pvt. Ltd. vs. CIT (2015) 56 taxmann.com 18 (SC). The Hon'ble Supreme Court heard the petition of the Assessee, condoned the delay and clearly held in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e city, Kolkatta (8,217 Sq. Feet) [Rs. 4,35,88,556/-] totaling (Rs. 14,92,83,642) The Assessee Company did not provide any details or explanations regarding the properties or the investment therein in the Assessment proceeding nor in Appellate proceedings. The Appellant had more than sufficient opportunity, particularly during the appellate proceedings, but the Appellant evaded compliance in the appellate proceedings and no details or explanations regarding the three Properties or the source of investment therein were given. Hence no relief can be allowed to the Appellant on this issue. Accordingly, the additions made towards Unaccounted Investment in the abovementioned three Properties amounting to Rs. 14,92,83,642/- are hereby confirmed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were duly accounted for/ recorded in the Books of Account and were reflected in the Balance Sheet. If it was so then, the Appellant had more than sufficient opportunity in the Appellate proceedings to present its claim on the basis of such Books of Account and other Documents, evidence, material etc, but the Appellant evaded such opportunity: In view of the facts of the case, no relief can be allowed on this issue and the additions made being fully justified are to be upheld. The addition of the amount of Rs. 161,01,10,888/- is treated as unexplained Investment of the Assessee company is hereby confirmed. The Ground of Appeal No. 10 is rejected." 14. Since the fixed assets were treated as bogus, denial of depreciation was also confirmed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition of Rs. 115.89 crores. 19. The assessee carried the matter before the ld. CIT(A) but without any success. 20. We have given thoughtful consideration to the orders of the authorities below. Since in A.Y 2010-11 [supra] we have treated the entire purchases of fixed assets as bogus, there is no question of any allowance of depreciation. In respect of other assets, we find that no supporting evidences have been furnished and, therefore, denial of depreciation is justified. 21. In so far as claim of expenditure is concerned, the onus is upon the assessee to furnish necessary evidences in support of its claim of expenditure. Since no documentary evidences have been furnished, the addition on account of non availability of bills in resp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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