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TMI Blog2021 (12) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A) had made the addition and sustained the same in the absence of cogent material/documentary evidence in support of the assessee's claim. Even now before the Tribunal, neither the assessee/assessee's counsel was present to argue the appeal nor filed any documentary evidence to support the claim against the additions made by the Ld. A.O. In this situation, we do not find it necessary to interfere in the order passed by the Ld. CIT(A) - Appeal filed by the assessee is dismissed. - ITA No. 1669/Hyd/2019 - - - Dated:- 5-10-2021 - A. Mohan Alankamony, Member (A) Assessee by : None Revenue by : Sri A. P. Babu, DR ORDER This appeal is filed by the assessee against the order of the Ld. CIT(A), Tirupati in appeal N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014-15 on 24/02/2015 admitting total income of ₹ 4,56,350/-. The case was selected for scrutiny under CASS. 4. During the scrutiny assessment proceedings, the Ld. A.O. observed that: (i) During the assessment year the assessee had sold 29 properties along with the builder for a sale consideration of ₹ 97,30,400/- while the cost of acquisition is ₹ 40,69,629/- and the capital gains worked out to ₹ 7,95,571/-. Assessee had claimed that interest paid towards loan obtained for purchase of site must be allowed as cost of improvement. Not satisfied with the explanation of the assessee and since the assessee had already admitted capital gain of ₹ 5,56,348/- the Ld. A.O. made addition of ₹ 2,39,223/- ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the provisions of Section 44AD of the Act and made addition of ₹ 4,00,000/-. 5. Accordingly, the Ld. A.O. completed the best judgment assessment U/s. 144 of the Act and determined the assessed income at ₹ 36,29,453/- against the returned income of ₹ 4,56,350/-. Aggrieved by the order of the Ld. A.O., the assessee filed an appeal before the Ld. CIT(A). 6. On appeal, the Ld. CIT(A) sustained the additions made by the Ld. A.O. because the assessee could not substantiate his claim against the additions made by the Ld. A.O. with proper documentary evidence. Aggrieved by the order of the Ld. CIT(A), the assessee is in appeal before the Tribunal. 7. Before me, none appeared on behalf of the assessee to represent the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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