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2023 (9) TMI 472 - AT - Income TaxUndisclosed income - Addition on basis of income appearing in Form 26AS - assessee is unable to furnish evidence to establish that no transaction was entered into with Sunway Construction during the financial year 2010-11 - HELD THAT:- Merely on the basis of AIR information regarding details in Form 26AS of M/s Sargon Geosynthetics Ltd. made the impugned addition. Therefore, we deem it appropriate to restore the matter to the file of the AO for de novo adjudication after necessary examination of all the details furnished by the assessee including the details in Form 26AS of the assessee for the year under consideration. The assessee may also make necessary endeavour to obtain the information from Sunway Construction regarding its transaction with M/s Sargon Geosynthetics Ltd. and the period for which the impugned payment was made to M/s Sargon Geosynthetics Ltd. Also grounds pertaining to the computation of book profit under section 115JB of the Act is also restored to the file of AO for de novo adjudication.Grounds raised by the assessee are allowed for statistical purposes. Allowability of payment of gratuity - CIT(A) has passed the order ex-parte due to the non-appearance of/on behalf of the assessee - HELD THAT:- Now in appeal before us, the assessee is duly represented by the learned Authorised Representative (“learned AR”) and wishes to pursue the litigation against the addition made by the AO. The assessee has also filed the paper book enclosing the proof of payment of gratuity. We find that the assessee also filed a rectification application dated 16/03/2090 before the AO enclosing the payment receipt of the premium paid. As evident from the record that all these details were neither furnished during the assessment proceedings nor furnished before the learned CIT(A). Therefore, we deem it appropriate to restore the issue of allowability of payment of gratuity to the file of the AO for de novo adjudication after consideration of all the details/submissions as filed by the assessee. The impugned order is set aside and the grounds raised by the assessee are allowed for statistical purposes.
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