TMI Blog2014 (1) TMI 1621X X X X Extracts X X X X X X X X Extracts X X X X ..... ar under consideration. It was also stated that the assessee had no balance outstanding of the employees/persons, as all the amount had been refunded to them and no person was, at the relevant time, traceable, having left the employment of the assessee on the closure of its business during the year. This aspect also does not find mention, much less adjudication in the impugned order. The assessee has further stated that all the bills and vouchers and related records were made available before the Assessing Officer for verification purposes. Again, the Ld. CIT (A) makes no comment. Thus remit this matter to the file of the Assessing Officer for decision afresh in accordance with law, on affording due and adequate opportunity of hearing to the assessee - Decided in favour of assessee for statistical purposes - ITA No.2846/Del/2013 - - - Dated:- 17-1-2014 - SHRI S.V. MEHROTRA AND SHRI A.D. JAIN, JJ. For The Appellant : Shri Anil Sharma, Advocate For The Respondent : Shri Satpal Singh, Sr. DR ORDER PER A.D. JAIN, JUDICIAL MEMBER: This is Assessee s appeal for Assessment Year 2008-09 against the order dated 22.02.2013, passed by the CIT (A), Noida, taking the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... determination of the assessee s income by the Assessing Officer at ` 25,26,200/-, the Ld. CIT (A) has erred in disregarding the submissions made and evidence produced before him by the assessee. The ld. Counsel for the assessee has drawn our attention to pages 74 and 75 of the assessee s paper book, which is a copy of the assessee s written submissions dated 04.02.2013 filed before the Ld. CIT (A). These short written submissions are as follows:- Dated, 04.02.2013 To, The Commissioner of Income Tax (Appeal) G Block Shopping Complex Sector-20 Noida Sub: Filing of Submissions in the case of Shri Govind Singh PAN AGGPS 3549G A.Y.2008-09 Appeal No.458/744/2011-12/Noida. Dear Sir, Please refer as above we have some submission which are summerised as below. l. Point no.3 of the order passed by Ld. Assessing Officer. a.In respect of receipts of Earnest Money. The A.O. had not given proper opportunity for the appearance of the person/employee from whom amount is received. The employee/person were not employed with the assessee at the time of the hearing of the case. As the assessee had closed the business during the year 2008-09. b. In respect of Loans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom another 30 persons. It is also observed that in most of the cases the amount of loan/earnest money claimed to have been received by the assessee is marginally less than ₹ 20,000/-. In order to verify the genuineness of above transactions assessee was specifically asked to produce all the persons by 16/12/2010 from whom unsecured loan and earnest money have been received but no one attended, Thereafter, a show cause notice was issued on 15 th December, 2010 asking assessee to produce all the above persons and it was specifically brought to the notice of tile assessee that in case of non-compliance the assessment will be completed on merit. On the fixed dated (21/12/2010) assessee attended but did not produce any person. Again on 24/12/2010 assessee attended but did not produce those creditors. Later on assessee furnished some confirmations and in five cases also furnished copy of ITR and requested the AO. to allow him two more days to produce the creditors. Accordingly, case was adjourned for 27/12/2010 but once again assessee did not produce any creditors. In the light of above repeated non co-operation from the assessee the AO. asked the assessee to explain why unsecure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns. Accordingly addition of ₹ 21,23,115/- made by the A.O. to the total income of the assessee as unexplained income is confirmed. 2. During the assessment proceedings the A.O. found that as against net profit ratio of 4.43% reported by the assessee for immediately preceding year, the net profit in respect of current year under consideration has been shown at 1.73%, which is much lower than the preceding year. In support of business income assessee furnished bills/vouchers which was not found to be in proper form by the A.O. The AO has also recorded that assessee, failed to furnish complete bills/vouchers which was not found to be in proper form by the A.O. the A.O.has also recorded that assessee failed to furnish complete bills/vouchers of expense. It was also observed by the A.O. that mostly expenses were incurred in cash which were not verifiable. With above observation in order to check possible leakage of revenue, an ad-hoc addition of ₹ 1,39,390/- on estimate basis was made by the A.O, and the same was added to the total income of assessee. I have gone through the submission made by the assessee in this regard and find the same not tenable for the reason that e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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