TMI Blog2015 (2) TMI 447X X X X Extracts X X X X X X X X Extracts X X X X ..... AO should inform DGIT(System) to verify such information from the department server and correct it in future. The appellant investments of ₹ 12,30,000/- (page no. 8) is out of his bank amounts through SIP (Systematic Investment Plan) by the cheques. The appellant’s all the investments made by the appellant stands explained. The appellant’s written income during the year is ₹ 16,47,190/-. She is now settled in Singapore with her husband and both are in Chartered Accountant Firm. She is software engineer, considering her explanation and evidence No good reason to interfere with the findings arrived at in the impugned order. It is seen that no evidence controverting the facts as taken into consideration by the CIT(A) has been pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the assessment order inter alia on the ground that notice u/s 143(2) was not served upon the assessee, more so when Ld. AO himself has accepted this fact. 2. That in any case and in any view of the matter, impugned order passed u/s 144/143(3) is bad in law and against the facts and circumstances of the case. 3. That the cross objection craves the leave to add, amend, modify, delete any of the ground(s) of cross objection before or at the time of hearing. 3. The relevant facts of the case are that the assessee returned an income of ₹ 16,47,190/- by way of filing its return on 31.03.2008 which was processed u/s 143(3) and subsequently selected for scrutiny through CASS. For which notice u/s 143(2) was issued which returned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 30.10.2009 and final show cause notice on 26.11.2009 fixing the hearing for 15.09.2008, 25.05.2009, 17.08.2009, 09.11.2009 and 07.12.2009 respectively at all the available addresses. Some of above notices are undelivered and some are not received back. The assessee has not been traced out after best efforts. In view of these circumstances, I have no other alternative but to complete the assessment exparte under section 144 of the I.T.Act, 1961 to the best of my judgement on the basis of material available on record as the matter is bared by limitation on 31.12.2009. 3. The assessee has shown income from salary and income from other sources i.e. interest income. As per AIR information, the assessee has paid ₹ 2,33,433/- against the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of above, I held the entry of credit card payment of ₹ 2,33,433/- and investment in mutual funds of ₹ 28 lakh totaling to ₹ 30,33,433/- as unexplained and as such the same is added to the income of the assessee as Income from undisclosed Sources . I am satisfied that penalty u/s 271(1)(c) read with section 274 of the I.T. Act is attracted which is being initiated separately for furnishing inaccurate particulars of his income. 6.1. A perusal of the impugned order shows that before the CIT(A) the assessee contended that no notice was served upon the assessee. On merits it was explained that a perusal of the HSBC Bank A/c No. 019-266477006 which the AO has considered would show that the assessee has used the credit card ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eceived in this specific bank account from which the assessee has made payment of credit card of ₹ 2,33,613/-. In support of the said explanation copy of the bank statement of HSBC, details of the credit card, ITR copy and Form 16 were placed before the CIT(A). 6.3. Referring to the second addition of ₹ 28 lakh also based on the same bank account it was submitted that the assessee through SIP has invested on different dates a total amount of ₹ 70,000/- , ₹ 35,000/- ₹ 1 lakh in HDFC Long Term Advantage Fund, Franklin India Flexi Cap Fund, HSBC Midcap Equity Fund and HSBC Floating Rate Fund respectively. Apart from this the assessee had also made investment by SIP through its Citi Bank A/c No. 5-53355-1116 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rved upon the assessee in respect of above mentioned assessment year. Therefore we request your Hon ble, in the absence of any service of notice u/s 143(2), the ex-parte assessment is invalid, illegal and void ab initio. Therefore the addition made by the assessing officer may be kindly deleted. 4. The appellant filed his written submissions dated 27.11.2012 which is reproduced for ready-reference:- Kindly refer to above, we are enclosing the copy of AIR information in the case of Ms Pallavi Srivastava for your kind perusal. As per AIR information the following transactions are made:- 6.5. Considering the above the CIT(A) came to the following conclusions: 1. I have perused the assessment order, written submission, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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