TMI Blog2020 (11) TMI 599X X X X Extracts X X X X X X X X Extracts X X X X ..... e raised therein is remitted to the Ld. CIT(A) for deciding the same in accordance with law after giving the assessee a proper and sufficient opportunity of being heard. Addition u/s 68 - addition made by the AO u/s 68 which is not only confirmed but enhanced by the Ld. CIT(A) - HELD THAT:- The notice of enhancement was issued by the Ld. CIT(A) on 24.09.2018 and since the impugned order enhancing income of the assessee was passed by the Ld. CIT(A) on 28.09.2018, the assessee did not get proper and sufficient opportunity to submit its reply to the enhancement notice issued by the Ld. CIT(A). He has contended that the Ld. CIT(A) thus has enhanced the income of the assessee without giving proper notice to the assessee and the enhancement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ideration, the assessee had received loan of ₹ 17,16,547/- and ₹ 1,25,000/- from Shri Vinod Agarwal and Shri Gopal Bajoria respectively. In order to verify the said loan, notices u/s 133(6) were issued by the AO to Shri Vinod Agarwal and Shri Gopal Bajoria. The Notice sent to Shri Vinod Agarwal however was returned unserved by the Postal Department whereas there was no response to the said notice from Shri Gopal Bajoria. Even the assessee also could not establish satisfactorily the identity and capacity of the said two creditors as well as the genuineness of the relevant loan transactions despite sufficient opportunity afforded by the AO in this regard. The AO, therefore, treated loan received from both this creditors as unexpla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. CIT(A), the combined peak credit of both these accounts amounting to ₹ 81,11,654/- was liable to be added u/s 68 instead of the addition of ₹ 18,41,547/- made by the AO. He, therefore, issued a notice on 24.092018 requiring the assessee to show cause as to why the addition made by the AO on this issue should not be enhanced. As mentioned by the Ld. CIT(A) in his impugned order, there was however no reply received from the assessee in response to the said notice till the passing of his impugned order. He accordingly enhanced the total income of the assessee and dismissed the appeal of the assessee with the said enhancement. Aggrieved by the order of the Ld. CIT(A), the assessee has preferred this appeal before the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the normal provisions of the Act as well as for the purpose of computing book profit of the assessee-company u/s 115JB of the Act, the issue relating to the said additions made by the AO while computing book profit u/s 115JB was not raised by the assessee-company in its appeal filed before the Ld. CIT(A) due to inadvertence. He has contended that since this issue is clearly arising from the order passed by the Assessing Officer in the assessee s case for the year under consideration and the same is legal in nature, the adjudication of which does not require investment into new facts, the additional ground raised by the assessee may be admitted. The Ld. DR, on the other hand, has not raised any material objection for admitting the said addi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
