9911796707
TMI Blog2021 (6) TMI 978X X X X Extracts X X X X X X X X Extracts X X X X ..... r. w. s. 153A of the I T Act is illegal, bad in law and null and void as the same is without the jurisdiction. The assessment order dated 30th March 2016 passed under section 143(3) of the I T Act was final. The appellant hereby requests your honour to kindly quash the assessment order and oblige. 2) On the facts and in the circumstances of the case and in law the assessment order passed by the learned AO under section 143(3) r. w. s. 153A of the I T Act is illegal, bad in law and null and void as the same is without the jurisdiction as no incriminating document was found during the course of search action and the assessment proceedings were unabated in terms of proviso to section 153A of the I T Act. The appellant hereby requests your h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further failed to satisfy the conditions laid down under section 37(1) of the I T Act. The honourable CIT(A) failed to appreciate the fact that the appellant had produced all the details before the learned AO and almost all payments were subjected to Tax Deducted at source and have been made by account payee cheques. The appellant hereby requests the addition may please be deleted. 6) The appellant hereby reserves the right to add, amend or delete ground/s of appeal. " 3. Brief facts of the case shows that search and seizure operation u/s 132 of the income tax act 1961 was carried out on 20 June 2013 in PACL group of cases. The case of the assessee was also covered Under the provisions of Section 132 (1) of the act. Therefore notice u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come tax act. Since no notice u/s 143 (2) is issued within the prescribed time the assessment is final and hence it cannot be abated. The assessee also objected that there is no incriminating document or material exist against the assessee. Assessee also requested the copy of the statement of Mr Praveen Agarwal recorded u/s 132 (4) of the act and asked for the opportunity of the Cross examination. Assessee also submitted that no addition can be made in the hence of the assessee as assessee has booked expenses of land development against the sale or income to be received from PACL Ltd and assessee has only earned marginal profit in this case which has already been offered for taxation. The learned assessing officer considered the explanatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es in the hands of the assessee company along with the addition of Rs. 1,250,000 on account of commission paid to the accommodation entry provider.Assessment order u/s 153A of the income tax act was passed on 30th of March 2016. 4. Assessee aggrieved with the order of the learned assessing officer preferred an appeal before the learned Commissioner of income tax (appeals) - 31, New Delhi who passed an order on 3 April 2017. The learned CIT - A in the detailed order held that assessee has failed to establish the genuineness of the expenditure debited in the books of account and when it is so, the assessing that authority was Under a statutory obligation to decide as to what substantive treatment was needed to be given in the light of the ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the making this addition and therefore this addition has no legs to stand. Accordingly he deleted the addition. Thus he partly allowed the appeal of the assessee confirming the addition of Rs. 125 crores in hands of the assessee on substantive basis and deleting the addition of Rs. 1,250,000 which is merely on the basis of conjectures and surmises and without any evidences. Thus assessee is aggrieved with that order has preferred this appeal as per above mentioned grounds of appeal. 5. The above appeal has been listed for hearing on 15 December 2020 and none appeared on behalf of the assessee. On that date bench directed to issued the notice by registered post to the assessee fixing the next date of hearing on 8 February 2021. 6. On 8 Fe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) contains the details of the various invoices issued by the assessee to PACL Ltd amounting to Rs. 230 crores and it was found that no actual work has been carried out by the assessee or the parties to womb the assessee has subcontracted those work. In view of this there are incriminating material found during the course of search coupled with the statement of the entry operators which clearly proved that the assessing officer has rightly assumed the jurisdiction and asked the assessee to prove the identity creditworthiness and genuineness of the subcontractors who perform the work and whose expenditure has been booked by the assessee in the profit and loss account. Further more as the addition has been made u/s 37 (1) of the act as the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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