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2013 (3) TMI 621 - AT - Income TaxPenalty under section 271(1)(c) - unexplained cash deposits - assessment was finalized under section 143(3) r.w.s. 153C r.w.s. 153A - Held that:- Since the assessee has offered no justification at all, we hold that the CIT(A) has rightly confirmed the penalties under challenge. See CIT v. Mak Data Ltd. [2013 (1) TMI 574 - DELHI HIGH COURT] - Decided against assessee. Assumption of jurisdiction u/s 147 - non providing of oppurtunity for hearing - Held that:- No material has been filed before us by the assessee so as to prove that the findings of the lower authorities are contrary to the evidence available on record. Although in the reassessment order, the Assessing Officer mention the proceedings as under section 144 r.w.s. 147 of the “Act”, the assessment order also proves that the assessee was offered adequate opportunity of hearing and he had also filed written submissions which were considered by the Assessing Officer. Therefore, in subsistence, it is not an ex-parte assessment order. Accordingly, we reject the arguments of the assessee that he was not offered opportunity of hearing by the Assessing Officer. So far as arguments on merits are concerned, we have make it clear apart from the bald assertion raised in the grounds of appeal, there is no material available on record that the findings of the CIT(A) on merits suffer from any misreading of documents on record. Therefore, we uphold the order of the CIT(A) under challenge.
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