9911796707
TMI Blog2025 (2) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... restored. Accordingly, all the grounds raised by the Revenue in the years under consideration are allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... under the principle of natural justice and also was not interested in filing any details during the appellate proceedings in support of his claim. In response to the notices issued, the assessee has not furnished any submissions in support of his claim, to prove why the addition made by the Assessing Officer should not be sustained. In such a situation, the only conclusion which can be drawn is that the appellant is not interested in pursuing the appeal. 4.3. It has been held by the Hon'ble Supreme Court in the case of B.N. Bhattacharjee and Another (118 ITR 461) (at pages 477 & 478) that appeal does not mean merely filing of memo of appeal but also pursuing it effectively. In cases where the appellant does not want to pursue the appeal, appellate authorities have inherent power to dismiss the appeal for non-prosecution as held by the Hon'ble Bombay High Court in the case of M/s Chemipol vs. Union of India in Excise Appeal No. 62 of 2009. 4.4. This appeal has been filed by the appellant claiming that the action of the Assessing Officer is not supported by facts and laws and that it is unjust. In such a situation, it is for the appellant to furnish submissions with relev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the nature of business of the appellant to see whether the operations of the business are carried out in cash or he is capable of generating that much of cash through his business activities by calling bank account statements. b) To verify the source for cash deposits alongwith counterfoils of cash deposits made. c) Once again verify the KYC documents and application form of the applicant while opening the bank account. d) Details of cash withdrawals alongwith counterfoils and cash withdrawals slip of AY 15-16 & 18-19. e) The AO also may verify details of loan obtained by the appellant in his name or in the name family members in the above mentioned bank. 1) The AO may verify the locker facility availed by the appellant or his family members in the above mentioned bank. g) The AO may verify the immovable properties held by the appellant provided as collateral security for any loan obtained. h) The AO may verify whether Mr. Naresh Shivlal Rajai, Resident of Savitri Nivas, Behind Janta Hall, Chaproo Nagar, Hanuman Chowk, Nagpur-440008, Director of Kingfisher Forex Pvt Ltd having PAN AADCK7939A is having bank account in M/s Mangaldeep Multi State Urban Co-operative Soci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are attached to substantiate the claim. The AO has carefully considered the submission and found the explanation to be not acceptable and completed the assessment on the basis of information/details available on record u/s 147 r.w.s. 144B of the Act and the AO treated the said cash withdrawals made amounting to Rs. 23,49,99,360/- as unexplained expenditure u/s 68 of the Act of the appellant and passed assessment order u/s 144B r.w.s. 147 of the Act dated 29.03.2023 determining the assessed total 55,48,430/-income at Rs. 23,55,48,430/- 4.1 to 4.5 ………. 4.6 It is seen from claim of the appellant that he is dealing with the purchases and sale agricultural products in cash. However, as the AO rightly pointed out that the volume of such transactions would have to have some concrete documentary evidence. The AO also has tried his best to get some evidence in support of the expenditure claimed. The AO's findings in the assessment order are reproduced below in brief so as to understand the non-compliant behaviour by the appellant. Further, there is no continuity in filing ITR though such heavy transactions have been undertaken by the assessee and it is only w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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