9911796707
TMI Blog2022 (4) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... find that the ld. CIT(A)/NFAC ignored the vital piece of evidence, therefore, keeping in view the relevancy of the evidences, the appeal of the assessee is restored back to the file of the ld. CIT(A)/NFAC to adjudicate all the grounds of appeal raised by the assessee afresh by passing a speaking order after considering the entire evidences. The assessee is also directed to make proper compliance and to furnish necessary details and evidences if so desired. Assessee appeal allowed for statistical purposes. - ITA No. 246/SRT/2021 - - - Dated:- 11-4-2022 - Shri Pawan Singh, Judicial Member And Dr. Arjun Lal Saini, Accountant Member For the Appellant : Shri Prakash Jhunjhunwala, C.A And Shri PawanJagetia, C.A. For the Respondent : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase and sale registers, stock register and other documents filed on record had not disputed by ld. A.O. and ld. CIT(A); c) The rejection of books of accounts u/s 145(3), without pointing any specific defect, is erroneous; 4. Without prejudice to Grounds No. 2 3, an alternate prayer is made to adopt the concept of real income and restrict the addition @ 1% of disputed transactions; 5. On facts and circumstances of the case and in law, the notice issued u/s 148 in vague manner and in absence of fresh tangible material, on the basis of borrowed satisfaction and without having reason to believe of escapement of income is bad in law. 2. Brief facts of the case are that the assessee is an individual and engaged in the business of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10/2018. The Assessing Officer further recorded that the assessee neither complied with the notices nor filed any return of income, accordingly, a final show cause notice was issued to the assessee to furnish required details on or before 26/12/2018. The Assessing Officer again recorded that no details were furnished by the assessee. The Assessing Officer accordingly made addition of ₹ 13,92,23,769/- on account of unexplained cash credit. 3. Aggrieved by the additions, the assessee filed appeal before the ld. CIT(A). The appeal of the assessee was adjudicated by the National Faceless Appeal Centre (NFAC) vide order dated 30/11/2021. The ld. CIT(A)/NFAC upheld the addition by taking a view that during the appellate proceedings, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee nor the ld. CIT(A)/NFAC granted reasonable opportunity of hearing to the assessee. The ld. AR by inviting our attention on para 7 of the assessment referred that a show cause notice was issued by the Assessing Officer to furnish explanation on or before 26/12/2018 and the assessment order was passed immediately on 30/12/2018. Before the ld. CIT(A)/NFAC, the assessee filed/uploaded his submission on 07/11/2018. Besides that the assessee also uploaded various party wise details of sales and realization of sale consideration, copy of acknowledgement for furnishing such detail is filed as per page No. 4-5 of paper book. The assessee in his submission furnished party wise details, confirmation of account debtors, sale register, purchas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was given sufficient opportunity by the Assessing Officer by issuing various notices. However, the assessee failed to make proper compliance of the notices of the Assessing Officer. The assessing officer made addition of 100% of the credit in the account of the assessee. The NFAC has confirmed the addition on merit and the assessee does not deserve any relief. On our specific query to the ld CIT-DR for the revenue that the ld. AR of the assessee has not argued his case on merit and has made a limited prayer to restore the appeal to the file of ld. CIT(A)/NFAC with direction to consider the documentary evidences and to pass an order afresh as the evidences filed by the assessee was not considered by NFAC. The ld. CIT-DR submits that the Be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
