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2015 (12) TMI 1413 - ITAT AHMEDABAD

2015 (12) TMI 1413 - ITAT AHMEDABAD - TMI - Undisclosed income - Held that:- The assessee submits that this addition sum comprises of access money collection of ₹ 2,02,350/- as per a diary seized . The same is stated to have been received from four parties namely; Prasam Hajarnis, Mrs Anila, Mr. Dinesh, Mr. Kaushik and Mr. Jai Prakash to the tune of ₹ 20,750/- each in first two cases and ₹ 95,125/- , ₹ 45,125/- and ₹ 20,600/- respectively. These figures form part of .....

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rightly made the corresponding addition of ₹ 2,02,350/- in assessee’s case. - Decided against assessee

Disallowance of expenditure - Held that:- The Assessing Officer has accepted assessee’s expenses claimed regarding brokerage, misc. items and the once pertaining to specific payees in question. The assessee takes us to paper book containing names of four parties to have received the same. However, we do not find any vouchers, bills, and other documentary evidence forthcoming f .....

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ondent : Shri R.I. Patel, CIT-D.R. Date of pronouncement : 26-08-2015 ORDER Per : S. S. Godara, Judicial Member:- This assessee s appeal for block period from 01-04-1985 to 31- 03-1995 & 01-04-1995 to 21-09-1995 arises from order of the Deputy Commissioner of Income Tax , Circle-9, Ahmedabad, in proceedings under section 158(BC) r.w.s. 143(3) & 254 of the Income Tax Act, 1961; in short the Act . 2. This appeal raises following grounds:- Your appellant being dissatisfied with the order pa .....

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ith directions of the Income tax Appellate Tribunal. The order framed without following the directions is bad in law and be quashed. 3.0 The assessing officer erred in making observation regarding method of accounting followed by your appellant. It is respectfully submitted that your appellant did not follow mercantile system of accounting and therefore the observations made by the assessing officer is not in consonance with the facts prevailing in the case of your appellant. It is submitted tha .....

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the assessing officer merely on account of his arbitrary approach and not properly appreciating the facts prevailing in its case. 4.2 The appellant submits that the addition/disallowance of ₹ 4,16,759/- made by the assessing officer be deleted. 4.3 The appellant without prejudice to above submits that in any event the addition made by the assessing officer is excessively high. The appellant submits that if any portion of the addition/disallowance made by the assessing officer is required .....

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e appellant submits that the disallowance made by the assessing officer in any event is excessively high. The appellant submits that appropriate relief be allowed as per the provisions of law. 6.0 The assessing officer erred in making the assessment of the total income in the case of your appellant at ₹ 15,66,759/- which is erroneous in the eyes of law and contrary to the facts. 6.1 The income returned by your appellant be totally unjustified under the facts and also in view of the provisi .....

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rovisions of law. 7.0 The assessing officer erred in not properly computing the tax payable by your appellant and he has not taken into consideration the appropriation available to your appellant out of cash seized during the proceedings u/s 132. It is respectfully submitted that the cash seized is available for appropriation in view of the petition made by the appellant and the assessing officer ought to have allowed the same. It is respectfully submitted that the assessing officer be directed .....

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ess. The department conducted a search dt. 21-09-1995 in cases of its group concerns. This culminated in issuance of a section 158BC notice dated 01-11-1995. The assessee filed its return on 11-12- 1995 admitting income of ₹ 11.5 lacs. The Assessing Officer framed block assessment on 30-09-1996 computing total income of ₹ 15,66,759/-. The assessee filed appeal in the tribunal. A coordinate bench in its order dated 02-01-2006 restored the issue back to the assessing authority for a fr .....

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77; 11,50,000/- stated hereinabove resulting in differential sum of ₹ 4,16,759/- in question. The assessee submits that this addition sum comprises of access money collection of ₹ 2,02,350/- as per a diary seized . The same is stated to have been received from four parties namely; Prasam Hajarnis, Mrs Anila, Mr. Dinesh, Mr. Kaushik and Mr. Jai Prakash to the tune of ₹ 20,750/- each in first two cases and ₹ 95,125/- , ₹ 45,125/- and ₹ 20,600/- respectively. The .....

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