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2018 (2) TMI 1965 - AT - Income TaxUnrecorded sales - payment of cash and cheque - Non mentioning section under which the addition was made - HELD THAT:- During the course of hearing assessee could not advance any contrary arguments confronting the orders of the lower authorities - available records that the assessee had received a sum of ₹ 67.50 lacs during the year under consideration which was not recorded in the books of account of the assessee - before the Investigation Wing at New Delhi, Shri Nikhil Tripathi, Director of UTHPL statement was recorded u/s 131 in which he confirmed the payment of cash of ₹ 57.50 lacs and ₹ 10.00 lacs through bearer cheque during the year under consideration and stated that the MOU dated 14-07-2007 was not signed by him but it was a forged document. In this situation, the AO noticed the unrecorded sales of ₹ 67.50 lacs and made the addition in the hands of the assessee . Appellant received a sum of ₹ 67.50 lacs during the year under consideration which was not recorded in its books of accounts.CIn ground of appeal, it has been stated by the appellant that the AO has not mentioned the section under which the addition was made and he has not verified the bank statement. In this regard, it is stated that non-mentioning of section does not make the assessment bad. Further, for cash transaction, there is no need for verification of the bank statements - Decided against assessee. Admission of additional evidence filed by the assessee - HELD THAT:- Filing of additional evidence by the ld.AR of the assessee has no relevance as the same has already been taken into consideration in the case of the assessee for the Assessment Year 2007-08. In this view of the matter and facts and circumstances of the case, we concur with the findings of the ld. CIT(A) for the Assessment Year 2007-08 and do not find merit in admitting the additional evidence filed by the assessee. Hence, the additional evidence filed by the assessee for the Assessment Year 2007-08 is not admitted. Thus Ground of the assessee is dismissed.
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