Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 2 - AT - Income TaxUnexplained credit u/s 68 - Facts remained unrebutted on record - Service of notice – Held that:- The assessee was the sole proprietor of M/s New Age Overseas and filed the return for the year under consideration on 05.07.2001 declaring an income of Rs,2,78,410/- has not been disputed by the Revenue – the income included the income of ₹ 2,31,187/- from the proprietary firm M/s New Age Overseas has also not been rebutted - against this return filed on 05.07.2001, no notice u/s 143(2) has been issued to the assessee - The evidence in regard to the shifting of the firm M/s New Age Overseas 130-131-D, Kamla Nagar, Delhi to 96-D, Kamla Nagar, Delhi w.e.f 07.07.2004 and ultimately the proprietorship was closed on 31.03.2007 by surrendering the sales tax number also has been confronted by the AO by way of a Remand Report and has not been rebutted as per the finding on fact available on record and has also not been rebutted before us in the present proceedings. The fact that the assessee specifically shifted to B-7, Green park Extension, New Delhi and submitted his return in Ward-24(1), New Delhi is the finding of the fact recorded in the order which also has been confronted to the AO and not denied by him and also not rebutted before us by the Revenue in the present proceedings - the service of notice by way of affixtures from 31.03.2008 to 28.11.2008 on the premises i.e. 130D, Kamla Nagar has been taken cognizance by the CIT(A) to hold that the notices were not served at the correct address - the CIT(A) also proceeds to consider the fact that the AO could have obtained the correct address from the bank account of Vijaya Bank as the complete address was available there - This fact also stands unrebutted on record - the CIT(A) ought to have quashed the proceedings and there was no need to proceed to adjudicate upon the additions on merit - the reasoning taken by the CIT(A) on merits also has not been assailed by the Revenue either by referring to any fact or evidence – Decided against revenue.
|