9911796707
TMI Blog2023 (10) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 01.10.2008 hence, AO rightly made addition. Therefore, we reach a logical conclusion that the Ld. CIT(A) has rightly evaluated factual position of the case and thereafter, granted part relief to the assessee partly - Decided against assessee. - Sh. G. S. Pannu, President And Shri Chandra Mohan Garg, Judicial Member For the Assessee : None For the Revenue : Shri Kanv Bali, Sr. D.R. ORDER PER CHANDRA MOHAN GARG, JM : This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals) I, New Delhi dated 22.12.2017 for Assessment Year 2009-10. 2. The assessee has raised following grounds of appeal : 1. That the reopening of case is void ab initio. That on the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y given during the proceedings u/s 250 of the IT Act, 1961. 5. The above grounds of appeal are independent and without prejudice to one another. 6. The detailed submission shall be filed at the time of hearing before your honor. 7. Your appellant craves leave to add, alter, amend or withdraw any of the grounds of appeal at the time of hearing. 3. When the appeal was called for hearing neither the assessee nor any authorised representative or Counsel appeared nor any adjournment application has been filed despite due service of notice. Therefore, we proceed to decide the appeal ex parte qua assessee after hearing the arguments of Learned Sr. D.R. on behalf of the department. 4. From the grounds as well as contentions b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the Bank Statement of Current Account of assessee clearly reveals that there was only one credit entry of 30,00,000/- on 01.10.2008 vide instruction no. 128081 but there was no credit entry of Rs. 30,00,000/- vide instrument no. 028744 dated 24.09.2008 in the Bank Statement furnished by the assessee company during the course of assessment as well as remand proceedings. 6. The Learned CIT(A) on the submission of assessee called remand report from the AO wherein the AO vide report dated 10.08.2017 and second remand report vide dated 20.07.2017 wherein the AO confirmed that the Bank Statement account of assessee for the period 23.09.2008 to 31.03.2009 shows only one credit entry of Rs. 30,00,000/- on 01.10.2008 vide instruction no. 1280 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bscribing company, the onus of which rested on the appellant has been discharged. The explanation offered regarding the amounts credited in the books of accounts of the appellant has correctly been found to be unsatisfactory by the AO. However the appellant has submitted that; we have taken a credit of only transaction vide PO No. 128081 dated 27/09/2008 of Rs. 30 Lacs while the transaction vide PO No. 028744 dated 24/09/2008 of Rs 30 Lacs is never credited in our account. and also submitted an affidavit. The AO in his remand report has ackhowledged that with regard to verification of the entries from the records, it is submitted that during the course of assessment proceedings, the assessee company filed the copy of bank state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsideration of basis taken by the AO, explanation filed by the assessee before the authorities below, both the remand reports of the AO and material available on record, we are of the considered view that the Learned CIT(A) was right in restricting the addition under Section 68 of the Act to Rs. 30,00,000/- and the second addition u/s 69C of the Act to Rs. 90,000/- as the remand report was clearly revolving the fact that the alleged entry dated 24.09.2008 was not found credited to the Bank account of the assessee. The assessee failed to discharge onus lay on him as per section 68 of the Act regarding entry dated 01.10.2008 hence, AO rightly made addition. Therefore, we reach a logical conclusion that the Ld. CIT(A) has rightly evaluated fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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