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TMI Blog2020 (2) TMI 1227X X X X Extracts X X X X X X X X Extracts X X X X ..... ued to the assessee from time to time. However, a perusal of page 2 and 3 of the assessment order shows that there was no proper compliance to the said statutory notices and the assessee filed only scanty details and was seeking adjournment from time to time on one ground or the other. As per 26 AS information available on the ITD system, the AO noted that assessee has received following amounts : Sr No Section /Date Name of Deductor / (Filer Name Nature of Transaction Income TDS 1 192B Plug Power Energy India Pvt Ltd Salary 14,95,034 4,32,574 2 194J Plug Power Energy India Pvt Ltd Professional Services 11,66,665 1,16,666 3 1.94C Reliance Communications Infrastructure Ltd Contract Receipts 31,857 637 4 194C Reliance Infratel Ltd Contract Receipts 867 17 Total 26,94,423 5,49,894 4. On being questioned by the AO to reconcile the receipt shown in the TDS certificates/ Form 26 AS with the income declared in the return of income under different heads, the assessee filed the following reconciliation:- Sr No Name of Deductor / Filer Income TDS 1. Plug Power Energy India Pvt Ltd (Salary Rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dismissed the appeal filed by the assessee by observing as under :- Observation : I have carefully considered the written submission of the appellant and also the contents of the assessment order and perused the relevant material available on record. After having carefully considered the entire facts and circumstances of the case, my conclusions on the issues raised in the grounds of appeal are as under: - under the head professional and other receipts. While making above addition the AQ has worked out the above amount of Rs. 9,38,4977- which is- given as under: Part A Particulars - Amount (Rs.) Income, from profession as appearing in 26AS . 11,66,665 Less- Income from profession as accepted 6,99,999 Difference.(Part A). 4,66,666 :Particulars Amount (Rs.) income, as appearing in income and expenditure account 7,51,193 Loss - expenses in earning above income 2,79,362 Difference (Part. B) 4,71,831 b. Based on above the AO has made an addition of Rs. 9,38,497/-, i.e. (4,66,666 + 4,71,831). Out of the above, a sum of Rs. 4,66,666/- has already been included in the salary income by the assessee himself and the remaining amount of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e hands of the assessee. In this regard, the appellant was asked to substantiate his above claim with the help of relevant evidence which the assessee has failed to discharge and to that extent I find that the assessee has failed to discharge his onus to explain the nature and source of above cash credits in the bank account despite having been given sufficient' time and adequate opportunity to the assessee. The AO has even conducted the necessary enquiry for which the summons were also issued to the concerned parties but the communication returned back with the comment "company left". Even during the appellate proceedings no further/new evidence or supporting papers were furnished by the assessee. In the light of the above facts I uphold the addition made by the AO amounting Rs. 22,71,884/-. c.Addition on a/c of exemption u/s. 54 of the Act : proceedings it came to the AO's notice that the appellant has shown one immovable property being Fiat No.143, Block-1, 4th Floor, Rao CGHS, Sector 23, Plot No.2, Dwarka, New Delhi for a sum of Rs. 28 lakhs which were neither declared in his return nor did he claim exemption u/s 54 of the Act. Even in the computation of income filed du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 01000087 04.09.2010 10,190 5 ICICI Bank 005101000087 05.03.201.1 9,857 Total 23,705 For want of any explanation by the appellant, the AO was justified in treating the same as undisclosed income which was added to the total income of the assessee under the head "income from other sources". Even during the appellate proceedings, the assessee failed to explain the reason for non-disclosure of interest income. In view of the above, I find AO justified in taxing the interest income in the appellant's hand, Hence, no interference Is warranted. This ground of appeal is dismissed. e. Interest on income tax refund: As per AIR information, the assessee was issued, income tax refund for A.Y. 2009-10 & 2010- 11 which also included interest of Rs. 35,137/-, which was not found to be declared in the appellant's return. Moreover, the assessee was given, opportunity to explain the reasons for non-disclosure of interest on income tax refunds but the appellant has no valid argument in his defence. As such, the addition made by the AO, as above, deserves to be confirmed. f. Addition of Rs. 8,43.000/- on account of cash deposits : During the assessment p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce in the income shown by the assessee and the income reflected as per 26 AS available with the income tax department. He also made addition on account of various amounts received by the assessee from M/s. Plug Power Energy India Private Limited through RTGS and not properly explained by the assessee before him. Apart from the above the AO also made addition u/s. 68 being the unexplained cash deposit in the bank account, made addition on account of interest on savings bank account and on IT refund and denied the claim of exemption u/s. 54 made by the assessee by filing a letter during the course of assessment proceedings. We find in appeal the Ld. CIT(A) dismissed the appeal filed by the assessee, the reasons of which have already been reproduced in the preceding paragraphs. A perusal of the AO's order shows that there was very little compliance or no compliance before the AO to explain the various discrepancies. Even before the CIT(A) the assessee could not furnish any evidence to support the discrepancies of Rs. 2,72,484/- being the receipts on account salary/ professional receipts. We find the summon issued by the AO to the company was returned back unserved with the remark "co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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