TMI Blog2021 (1) TMI 531X X X X Extracts X X X X X X X X Extracts X X X X ..... and under the agreement, which was claimed to be repaid by the assessee in subsequent year then the relevant documentary evidence is required to be verified before deciding the issue of unexplained cash credit. Hence, this issue is set aside to the record of the Assessing Officer to properly verify, examination and consider the evidence produced by the assessee. Addition towards the alleged booking amount received in cas h - Since the other issue is remanded to Assessing Officer for verification and for adjudication this issue also remanded to the Assessing Officer with similar directions. Validity of assessment proceedings for want of the valid notice u/s. 143(2) - HELD THAT:- Though the Assessing Officer has stated in the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nformation about service of notice and this fact duly mentioned in the assessment order hence in absence of proper service of notice assessment as made is illegal and void abinitio. 4. That in any view of the matter addition of ₹ 2,22,735/- as mentioned on account of advances from parties are not correct and thus the action of learned Commissioner of Income Tax (Appeals) is highly unjustified. 5. That in any view of the matter addition of ₹ 2,57,00,000/- by alleging unexplained cash credit added u/s. 68 by the assessing officer and confirmed by the Commissioner of Income Tax Appeals) is highly unjustified. The learned Commissioner of Income Tax (Appeals) was wrong in mentioning the correct facts nor any opportunity was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the actual facts of the case. 10. That in any view of the matter the case laws as cited by learned Commissioner of Income Tax (Appeals) at page 4 are not applicable to the assessee s case as the facts are quite different. 11. That in any of the matter interest charged u/s 234A, 234B is highly unjustified. 12. That in any view of the matter the appellant reserves his right to take any fresh ground of appeal before hearing of appeal. 2. The assessee company was engaged in the business of Civil Contract and filed its return of income on 31.03.2011declaring total income of ₹ 21,810/-. During the course of assessment proceedings, the Assessing Officer noted that in the balance sheet as on 31.03.2010, the assessee has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer as well as the affidavit of the assessee ascertaining the fact that the assessee filed the relevant details and evidence before the Assessing Officer. He has further submitted that in the subsequent year the assessee has repaid this amount, as the assessee has not carried out the work against which the earnest money was received and the assessee company was also closed. Thus, he has submitted that the Assessing Officer as well as CIT(A) has passed the impugned orders without considering relevant details as well as evidence filed by the assessee. 4. The ld. AR has further submitted that assessee has also challenged the validity of the assessment order on the ground that notice u/s. 143(2) of the Act was not served upon within the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. We have considered the rival submissions as well as relevant material available on record. There is no that dispute as on 31.03.2010, the assessee has shown earnest money of ₹ 3,79,00,000/- out of which ₹ 1,22,00,000/- was an opening balance as brought forward from the preceding year. The Assessing Officer, accordingly, made an addition of the balance amount of ₹ 2,57,00,000/- u/s. 68 of the Act, for want of any explanation about the nature and source of the said credit entry. The assessee has challenged the action of the Assessing Officer before the ld. CIT(A) and explained the source and nature of this amount being the earnest money received from various persons against the contract work to be carried out by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A) towards the alleged booking amount received in cash. Since the other issue is remanded to Assessing Officer for verification and for adjudication this issue also remanded to the Assessing Officer with similar directions. 8. As regards the validity of assessment proceedings for want of the valid notice u/s. 143(2) of the Act, we find that though the Assessing Officer has stated in the assessment order that the notice u/s. 143(2) issued and served on the assessee by speed post on 29.09.2011 however, it is not clear, what is the date of the notice u/s. 143(2) and when it was dispatched. Therefore, in the absence of the relevant record, this issue cannot be decided conclusively. The assessee though applied for certified copy of the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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