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TMI Blog2023 (1) TMI 604X X X X Extracts X X X X X X X X Extracts X X X X ..... per the material available on record the assessee had received rental income from two parties. Whereas, the assessee has not offered them to tax. That being the factual position emerging on record, the AO was justified in bringing to tax the rental income. The deficiency in the order of the AO due to non grant of statutory deduction of repairs and maintenance under section 24 of the Act has been removed by learned Commissioner (Appeals). No reason to interfere with the decision of learned Commissioner (Appeals) on the issue. As regards, the allegation of the assessee that learned Commissioner (Appeals) has violated the norms of natural justice, we are not convinced. Perusal of the impugned order of learned Commissioner (Appeals) would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble on record. 3. The basic issue which is under challenge in the present appeal is addition of Rs.9,53,000/- under section 68 of the Income Tax Act, 1961. 4. Briefly the facts are, the assessee is a resident individual. For the assessment year under dispute, assessee did not file any return of income voluntarily. Subsequently, the Assessing Officer received information that in the year under consideration, the assessee had received rental income of Rs.6,45,000/-. Based on such information the Assessing Officer formed an opinion that income assessable to tax has escaped assessment. Accordingly, he reopened the assessment under section 147 of the act by issuing a notice under section 148 of the Act. As observed by the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal Representative and perused materials on record. 7. In course of assessment proceeding, as alleged by the Assessing Officer, the assessee did not comply with a number of queries raised by the Assessing Officer and did not file supporting evidence to explain the source of deposits made in the bank statement. Even, in respect of rental income complete information was not furnished. However, before the First Appellate Authority the assessee submitted certain evidences to partially explain the source of deposits in the bank statement. After getting the evidences verified by the Assessing Officer learned Commissioner (Appeals) granted relief to the assessee to the extent, the assessee was able to explain the source of deposits in the bank ..... X X X X Extracts X X X X X X X X Extracts X X X X
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