9911796707
TMI Blog2022 (5) TMI 160X X X X Extracts X X X X X X X X Extracts X X X X ..... H. ANUBHAV SHARMA, JUDICIAL MEMBER Assessee by : None Revenue by : Sh. Vivek Vardhan, Sr. DR ORDER PER ANUBHAV SHARMA, JM: The appeal has been preferred by the assessee against order dated 25/09/2018 in appeal no. 311/2017-18 for the assessment year 2010-11 passed by the Commissioner of Income Tax Act, -27, New Delhi (hereinafter referred to as the ld. First Appellate Authority in short Ld. F.A.A.) in appeal pending before it against order dated 18.12.2017 passed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as the Act ) passed by ACIT, CC-17, New Delhi (hereinafter referred to as the Assessing Officer in short the AO ). 2. The facts in brief are that return of income declaring to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is taken at the rate of 2% of the transactions of accommodation entries. Accordingly, it is hereby held that the assessee company had paid an amount of Rs. 2,78,435/- on account of commission for obtaining accommodation entries which it paid out of undisclosed sources. Therefore, an addition of Rs. 2,78,435/- is hereby made to the total income of the assessee company for the year under consideration being 'unexplained expenditure as per provision of Section 69C of the I.T. Act, 1961. 4. In appeal, Ld. CIT(A) had restricted the addition made by AO to Rs. 34,80,446 being 25% of the total bogus purchased amounting to Rs. 1,39,21,785/- While confirming the commission expenses of Rs. 2,78,435/-. 5. Now before Tribunal assessee has r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dify any of the grounds at the time of hearing or before the hearing. 6. As a matter was called today on 27.04.2022, non-appeared for assessee. The registered notice with acknowledgement due have been received back un served, earlier also notices were un-served. Assessee has not put in appearance on 14.09.2021, 24.11.2021, 01.02.2022 and today. It appears that assessee is not interested to prosecute the appeal, therefore arguments of Ld. Sr. DR were heard who supported the orders of Ld. Tax Authorities below. 7. Giving thoughtful consideration to the matter on record it can be observed from the order of Ld. Tax Authorities below that the Ld. AO has rightly relied the detailed collection of evidence by the Investigation Wing which s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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