9911796707
TMI Blog2022 (9) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs.9,24,060/- as per normal provisions of the Act and Rs.1,20,10,923/- as Book Profit u/s 115JB of the Act. The return of income was initially processed u/s 143(1) of the Act. Thereafter, proceedings u/s 147 of the Act were initiated on the basis of information received from the Investigation Wing of the Department that the assessee was a beneficiary of taking accommodation entry in the garb of share application money. Accordingly, notice u/s 148 of the Act was issued on 27.03.2012 and was served upon the assessee. AO thereafter has framed assessment order u/s 147 r.w.s 144 of the Act order dated 28.03.2013 and determined total taxable income at Rs.9,84,41,709/- and the Book Profit u/s 115JB of the Act at Rs.1,20,72,923/-. 4. Aggrieved b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a 10 of his impugned order. Total Non application of mind at various stages: Vitiating Proceedings 5. That on the facts and in the circumstances of the case and in law, learned CIT-A erred in not appreciating that Ld AO acted without any application of mind as not only he expanded the proceedings from Rs. 15,00,000 to Rs. 404,00,000 & other additions but also he also grossly failed to appreciate that in Rs. 404,00,000, amount of Rs. 289,50,000 (Rs. 215,00,000 A.Y. 2003-04 & A.Y. 2004-05 Rs. 74,50,000) pertained to earlier years which case (A.Y. 2004-05 supra) has already went upto Hon'ble ITAT and hitherto decided in assessee's favor. Merits of the case : Unexplained Share Capital (Reasons recorded Rs.15,00,000 & final addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the circumstances of the case and in law, learned CIT-A manifestly erred in sustaining the colossal addition u/s 68 by wrongly observing that assessee did not discharge its onus and confirming the colossal additions on sole & mere basis of un-confronted investigation wing report which is not examined and analysed at any stage for its nexus with present case (if any). 10. That on the facts and in the circumstances of the case and in law, learned CIT-A manifestly erred in sustaining the colossal addition u/s 68 by ignoring the explanations and evidences submitted by assessee in support of its contention. Other additions & issues absolutely unconnected to reasons recorded 11. That on the facts and in the circumstances of the case and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... does not mean merely formally filing an appeal but also taking all the steps to effectively pursue the appeal. Further when an appeal is filed by the assessee before the Tribunal, it is expected that assessee shall put forth documentary evidences to support his claim. The fact that the assessee has not appeared before the Tribunal despite various opportunities granted to the assessee shows the negligent approach of the assessee and that he is not serious in pursuing the appeal filed by him. In the absence of any co-operation from the side of the assessee in helping to decide the appeal, we don't find any reason to keep the matter pending before us. Considering the aforesaid facts, we have no option except to dispose of the appeal on merits ..... X X X X Extracts X X X X X X X X Extracts X X X X
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