9911796707
TMI Blog2022 (11) TMI 231X X X X Extracts X X X X X X X X Extracts X X X X ..... is time barred by 17 days. Condonation application has been filed by the assessee. It has been stated that the order u/s.250 of the Income Tax Act, 1961, dt.27.06.2018 for the AY 2012-13, passed by the CIT(A)-18/Kolkata was received by office assistant on 19.07.2018. However, he didn't bring it to the knowledge of the management and proceeded on leave. Hence, the said order remained unnoticed till 26.09.2018. The management scrutinized the order on that very date and decided to file appeal against the additions/disallowances made therein. Due to this reason, the appeal against the order dt.27.06.2018 u/s.250 of the Income Tax Act, 1961 couldn't be filed in time. As the order was received on 19.07.2018, the limitation for filing app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be deleted. 04. That the appellant craves leave to add, alter, amend or withdraw any ground or grounds of this appeal. 6. Brief facts of the case are that the assessee is a private limited company. The source of income is stated to be from interest income and contractual business. Income at Rs.870/- declared in return of income filed on 27.09.2012 for the AY 2012-13. Case selected for scrutiny through CASS (Computer Assisted Scrutiny Selection) followed by serving of statutory notices u/s. 143(2) and 142(1) upon the assessee. But there was no compliance to the notices. AO, therefore, proceeded to frame best judgment assessment u/s. 144 of the Act. On examination of ITR-6 for the AYs. 2011-12 & 2012-13 downloaded from ITD portal, the AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arly indicates that the assessee is only trying to delay the proceeding and has nothing to place on record. On the other hand, the ld. DR vehemently argued supporting the orders of lower authorities and prayed for confirming the order of ld. CIT(A). 9. We have heard the rival contentions and perused the material placed on record before us. The assessee has challenged the finding of the ld. CIT(A) confirming the addition made u/s. 68 of the Act at Rs. 23,49,50,000/- by the ld.AO for unexplained cash credits of share capital and security premium received during the year. We notice that the assessee company was incorporated on 01.03.2011 and had offered meagre income of Rs. 870/- for the AY 2012-13. Surprisingly the assessee company has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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