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2022 (10) TMI 766 - AT - Income TaxInitiation of proceedings and violation of principle of natural justice - HELD THAT:- As perused the material available on record and gone through the orders of the authorities below. In the absence of any specific evidence in support of the claim of the assessee, we do not see any reason to interfere in the finding of authorities below, the same is hereby affirmed. Thus, Ground Nos. 1 & 2 raised by the assessee are dismissed. Unexplained expenditure u/s 69C - HELD THAT:- When the assessee was confronted with above seized documents and asked to furnish an explanation, he failed to submit any proper creditable explanation and simply stated that these are rough jottings by staff. In light of the analysis of seized material and accounts of the assessee and the companies, the replies filed by him are found to be inadequate and unexplained. Therefore, it is rejected and income assessed accordingly.Therefore the expenses incurred by assessee during the year which are treated as unexplained expenditure u/s 69C in his hands and added to his total income.
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