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2014 (6) TMI 634 - AT - Income TaxAddition u/s 69 of the Act – Unexplained investment in house property – Held that:- The present whereabouts of the assessee were not known along with notice u/s 142(1) dated 03-12-2007 were issued to the assessee at the residence premises at Tulip Bangalow of which assessee is the owner - no-body attended nor any written communication in the matter by the assessee either on the date so fixed or thereafter - notices issued by RPAD and speed post in question have yet not been received back un-served till date of order. None appeared on behalf of the assessee despite the fact that notice for today’s hearing was sent to him on the address mentioned by the assessee in form no. 36 – the assessee has failed to avail the opportunity granted while restoring the matter to the file of AO in the first inning of litigation - Despite several opportunities given by AO and Ld. CIT(A) assessee has not offered any explanation in respect of on money of Rs. 4,78,750/- paid by him to the Tulip Bungalows for acquiring the Bungalow No. 11 in Tulip Bungalows Scheme and therefore addition made by AO of Rs. 4,78,750/- towards payment of on money u/s 69 of the Act as unexplained investment in his property which has been sustained by CIT(A) is hereby upheld – Decided against Assessee.
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