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TMI Blog2025 (2) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... estionnaire, in response to which, nobody attended. However, a copy of return of income along with Profit and Loss Account and copy of bank statement and deed of purchase and sale agreements furnished on 03.11.2015. The Assessing Officer thereafter issued another notice u/s 142(1) of the Act along with a detailed questionnaire asking the assessee to file the relevant details on or before 24.11.2015. In response to this, the assessee filed part submissions like copy of bank statements, expenses vouchers, etc. However, the requisite details were not filed. The Assessing Officer thereafter issued a final show cause letter dt 23.02.2016 asking the assessee to furnish the relevant details on or before 29.02.2016 giving last opportunity. It was also mentioned that in absence of furnishing the requisite details before the specified date the assessment will be completed u/s 144 of the Act. Since the assessee did not file any details in response to the same, the Assessing Officer proceeded to complete the assessment on the basis of relevant details furnished which are available on record. 3. From the details filed by the assessee, the Assessing Officer noted that the assessee has shown gro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tice dated 10.11.2015 to furnish full details of the parties along with balance confirmation outstanding as on 31.03.2013 incorporating the details such as name, address, PAN in the prescribed format. In absence of furnishing of the same, the Assessing Officer made addition of Rs. 62,29,700/-. 6. The Assessing Officer similarly disallowed interest paid to SREI Finance of Rs. 48,754/-, excess depreciation claimed on JCB at Rs. 3,12,419/- and printing & stationary expenses of Rs. 1,97,968/- and entertainment expenses of Rs. 3,75,124/- in absence of proper details. Thus, the Assessing Officer determined the total income of the assessee at Rs. 1,97,65,230/- as against the returned income of Rs. 12,82,228/-. 7. The assessee filed an appeal before the Ld. CIT(A) / NFAC, who dismissed the appeal for want of prosecution. The assessee filed the appeal before the Tribunal and the Tribunal vide order dated 28.07.2021 restored the issue to the file of the Ld. CIT(A) / NFAC with a direction to decide the issue afresh. 8. The Ld. CIT(A) / NFAC upheld the action of the Assessing Officer in completing the assessment u/s 144 of the Act in absence of any evidence filed before him. So far as the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng a sum of Rs. 6229700/- on account of sundry creditors when this sum was payable to the land owner for purchase of land and is already paid in the next financial year. The addition made by the assessing officer under the guise that the sundry creditors are unexplained be deleted. 7) The addition of Rs. 197968/- made on account of disallowance of expense for printing and stationery when entire expense is incurred for business purpose. The addition so made be deleted. 8) The assessing officer has erred in treating the entertainment expenses of Rs. 375124/- as in genuine when entire expenses are incurred for business purpose. The addition so made be deleted. 9) The appellant prays to be allowed to add, amend, modify, rectify, delete, raise any ground of appeal before or at the time of hearing. 10. The Ld. Counsel for the assessee strongly challenged the order of the Ld. CIT(A) / NFAC in confirming the additions made by the Assessing Officer. He submitted that the assessee is engaged in plotting business in rural areas. He purchases land and after plotting the same, sells to the customers. The books of account of the assessee were audited u/s 44AB of the Act and the auditors h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer need not to reject the books of account and go for specific addition. He submitted that since the Assessing Officer in the instant case has passed a very reasonable order the same should be upheld and the grounds raised by the assessee should be dismissed. 14. We have heard the rival arguments made by both the sides, perused the orders of the Assessing Officer and Ld. CIT(A) / NFAC and the paper book filed on behalf of the assessee. It is an admitted fact that the assessee during the course of assessment proceedings has filed certain details but not filed the details as required by the Assessing Officer. The assessee in his submission has explained the source of such cash deposits as amounts received towards booking amount, installment amount and advances received from selling of plots from the various customers mainly from the rural areas. The assessee has also filed the copy of sundry creditors against the land purchase and the copy of purchase agreements as per its submission on 11.12.2015. Similarly, vide letter dated 08.03.2016 filed before the Assessing Officer, the assessee has again explained the cash deposited in the bank account as against the paym ..... X X X X Extracts X X X X X X X X Extracts X X X X
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