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TMI Blog2021 (5) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the date of this order, as offered and agreed by the Assessee. The case is remanded back to the file of AO for decision afresh while considering the additional evidence filed before us by the Assessee and without being influenced by any of the observations made in this order. Appeal filed by the Assessee allowed for statistical purpose. - I.T.A. No. 386/VIZ/2018 - - - Dated:- 13-5-2021 - Shri N.K. Choudhry, Hon ble Judicial Member And Shri D.S. Sunder Singh, Hon'ble Accountant Member For the Assessee : Shri C. Subrahmanyam, FCA For the Department : Ms. Suman Malik, Sr.DR ORDER PER N.K. CHOUDHRY, JUDICIAL MEMBER This appeal has been preferred by the assessee against the order dated 29/05/2018 impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income to be ₹ 37,69,610/- and calculated the income tax accordingly. 5. The Assessing Officer erred in charging interest u/sec. 234B of ₹ 2,94,327/- and interest u/sec. 234C of ₹ 855/-. 6. Any other ground or grounds that may be urged at the time of hearing. 4. The ld. Commissioner sustained the addition of ₹ 29,75,000/- by partly allowing the appeal of the Assessee and concluding as under:- Ground No.2 The appellant contends that the AO made addition of ₹ 29,75.000/- without giving any notice. In this connection it is to be noted that this being a case where assessment order was passed u/s. 143(3) r.w.s. 144 of the Act. Substantially, the assessment was passed considering non-respons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment order that the appellant filed part information in response to that notice. It is also further observed that the AO serve notices u/s. 142(1) dated 18-07-2017 08-08-2017. In addition to the above, a show cause notice was also served on the assessee In the light of these facts, it is not correct on the part of the appellant to state that show cause notice was not served upon him. It is to be noted that there is no requirement of serving show cause letter before passing best judgment assessment order, in case notice u/s.142(1) of IT Act was served upon by the appellant. The discussion made above amply makes it clear that notices u/s. 142(1) were served upon the appellant several times. In view of this, to pass order u/s. 144 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... negligent in not producing the revenant documents before the authorities below and at this stage the same can not be allowed to produce in ordinary way except on exception with stringent condition. 6. We may observe that the addition made by the AO pertains to the investment made by the Assessee through Sharekhan Ltd. and in the absence of material/documents qua the investment of ₹ 29,75,000/- the said amount resulted into addition as un-explained investment in shares u/sec. 69 of the Act. The said action of the AO also stands affirmed by the ld. Commissioner on the same footing as of the A.O. 6.1 We may also observe that the Assessee though availed various opportunities from the authorities below, but failed to file any such do ..... X X X X Extracts X X X X X X X X Extracts X X X X
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