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2016 (5) TMI 1133 - ITAT PUNEReopening of assessment - addition made in the hands of assessee in respect of cash and stock of wine - Held that:- Under the provisions of the Act itself, it is provided that where the assessee has failed to furnish return of income for any of the assessment years, then the Assessing Officer, as per reasons recorded in this behalf can initiate proceedings of assessment under section 147 of the Act. Accordingly, we find no merit in the claim of assessee in this regard and the same is dismissed. The claim of assessee before the Assessing Officer was that it had received sum of ₹ 4,43,000/- on account of sale of truck / mini bus and in respect of balance, it claimed that it was cultivating the land of two different persons and receiving agricultural income. However, the assessee failed to establish its claim with any evidence. The statements of persons were recorded, which were at variance with the claim of assessee. Further, the assessee could not produce any proper evidence of leasing out of the agricultural land by the owners of land and in the absence of same, the claim of assessee was not accepted by the Assessing Officer. Similarly, with regard to sale of equipment, the assessee failed to furnish complete evidence and the said claim was also not accepted. The assessee had fabricated various documents produced before the Assessing Officer and the assessee claims to have accumulated cash from sale of agricultural produce as back as 11.05.2009 (Rs.1,97,829/-), 20.04.2009 (Rs.1,25,000/-), 21.04.2009 (Rs.75,000/-) and 01.11.2009 (Rs.1,32,300/-). Similarly, the assessee claims to have received loan of ₹ 2 lakhs on 06.02.2009 and ₹ 2,43,000/- on 23.11.2009 and keeping in view of his social status and financial position of the assessee, the CIT(A) was of the view that it was highly improbable that the assessee would keep the said cash. Further, in the statement recorded before the Police Department on 24.11.2009, the assessee had not explained the source of cash out of agricultural income and loans / advances. The CIT(A) has held that the cash was out of sale of liquor and has confirmed the addition in the hands of assessee. The learned Authorized Representative for the assessee has failed to controvert the findings of authorities below and in the absence of any explanation furnished in this regard or any evidence to prove its stand, we find no merit in the claim of assessee - Decided against assessee
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