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TMI Blog2000 (12) TMI 873X X X X Extracts X X X X X X X X Extracts X X X X ..... to day quantitative record is maintained and detail is given with the report of audit under section 44AB. Various additions under section 68 viz. : 1. K.M. Enterprises Rs. 5,02,000 2. Daxaben B. Patel Rs. 5,14,447 3. Binaben B. Patel Rs. 1,50,000 4. Syntex Dyechem Rs. 3,27,000 5. Minal A. Patel Rs. 1,95,000 Since the deposits are genuine and through cheque as is evident from the report filed under section 44AB. Further addition of Rs. 5,45,657 of Kotak Mahindra Finance Ltd. is also not correct difference of Rs. 1,68,000 on account of balance confirmation by J.R. Patel Family Trust and J.R. Patel Individual appears to be mistake of posting and therefore this addition is also not correct. (2)Addition of Rs. 91,841 under section 43 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent will not have any complaint. But our bad time started when on 8-2-1992 both the above companies unilaterally and suddenly without prior intimation terminated our agency by their notice published in all local newspapers. This tarnished our business prestige and affected our business and social standing also. We were very nervous. We left Ahmedabad and shifted to Surat commercially and also residentially. Termination of our agency was the result of the differences of opinion in two groups in charge of management of the above two companies, Patel and Shroff. We filed the suit against the above two companies challenging the termination and the said two companies also filed summary suits against us. Our bad days had started. Our bankers M/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he part of the Department in sending the notices at Ahmedabad address because in severe nervousness and in disturbed state of mind we had forgotten to inform them of our new address at Surat. Because of the above circumstances, we have not been in a position to produce the above evidence which is absolutely necessary for our proper assessment and also for the proper disposals of the appeal and therefore, in all humility we pray of your goodselves to be kind enough to admit the above evidence and to consider the same otherwise whatever little hope we have, for re-establishing ourselves in life, and for livelihood will come to an end. Needless to say for this act of kindness, as in duty bound we shall for ever pray and remain grateful." 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 08 ITR 465 and the decision of the Hon'ble Madras High Court in the case of CIT v. Rayala Corpn. (P.) Ltd. [1995] 215 ITR 883. 4. In the rejoinder, Shri J.P. Shah, the learned AR of the assessee pleaded that the averment made by the assessee in its application requesting for admission of additional evidence has not been controverted by the learned DR. It was pleaded that in order to do substantial justice this evidence may be admitted and the matter may be set aside or remanded back to the file of the Assessing Officer for fresh adjudication in accor- dance with law and after considering the additional evidence furnished now. 5. We have considered the rival submissions and have also gone through the orders passed by the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rn by making various additions and the income was computed at Rs. 48,70,350 vide order dated 28-1-1996 passed under section 144 read with section 147. The Assessing Officer also refused to grant registration to the assessee-firm. 6. The assessee appealed and challenged the various additions before the CIT(A). However, it appears that although the appeal was fixed a number of times by the Commissioner (A), there was no compliance by the assessee. On the other hand, Shri C.F. Patel & Co., CAs kept on taking adjournments on one pretext or the other. Accordingly, the CIT(A) dismissed the appeal by relying on the order of the Assessing Officer. 7. Aggrieved with the order of the CIT(A), the assessee has filed this appeal in relation to which S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l filed before the CIT(A) it is mentioned that although the audit report for assessment year 1991-92 was got prepared in 1994, due to financial stringency the return could not be filed as the assessee was not having any money to pay the self assessment tax and ultimately the return was filed without payment of tax under section 140A. A perusal of the order passed by the Assessing Officer which has been confirmed by the CIT(A) indicates that the various additions made are of such a nature which would not have been made, had the assessee appeared before the Assessing Officer to explain the return alongwith the books of account e.g., the addition for cash credits under section 68 amounting to Rs. 5,02,075 are by cheques and the necessary confi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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