TMI Blog2021 (10) TMI 355X X X X Extracts X X X X X X X X Extracts X X X X ..... self as the case may be. It was very much incumbent on him to file the detailed reconciliation of the amount received viz amount involving the companies and the land owners; respectively alongwith the corresponding sale deeds as well which he has failed to do so. We thus see no reason to accept the assessee's foregoing contentions seeking a remand report as well from the department in absence of a valid admission of his additional evidence as per Rules 29 to 31 of the Appellate Tribunal Rules, 1963. And more so, when there is no certification on the part of assessee that his hard disk in issue satisfies the basic parameters of an electronic record or data; as the case may be u/s. 2(t) of the Information Technology Act - no reason to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t could not prove the basis/background for receipt of such amounts from 4 parties, such as the sale deeds, the details of lands, details of litigation, correspondence etc., indicating the nature of the payments, so as to classify them as capital or revenue receipts. No evidence towards the liability on the part of the parties who paid the amounts and the rights or basis for the landlords/land owners to receive such amounts, while indicating the locus standi of the assessee in this regard, were furnished either by the confirming parties or the assessee, either at the stage of assessment or the appellate proceedings. The analysis of the said issue, further reveal that the amounts shown to have been paid by the assessee through his bank accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the assessee to pay the claims of expenses/the amounts set off against the receipts, through crossed cheques to complying with the provisions of Sec. 40A(3) and also by making TDS. Having failed to comply with the same, and having failed to prove the genuineness of the amounts incurred as payments/expenses, against such receipts, the claim of the assessee have become disallowable claim. Thus, the entire receipts become the income of the assessee and having considered ₹ 18,00,000/- as consultancy charges in Profit loss account, the balance of ₹ 72,00,000/- (₹ 90,00,000-₹ 18, 00,000) is treated as the additional income in the hands of the assessee for the year under reference and the addition made by the AO, under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r thoughtful consideration to rival pleadings and find no force in assessee's stand. This is inter alia for the reason that although he has duly explained the source of sum of ₹ 90 lakhs coming from various companies/vendees, there is no reconciliation filed before qua the impugned sum of ₹ 72 lakhs having been passed over to the vendors. We make it clear learned counsel has relied upon the assessee's alleged hard disk as well as additional documentary evidence, the same are found to be lacking the clinching three folded nexus between vendors/farmers, vendees/companies and himself as the case may be. It was very much incumbent on him to file the detailed reconciliation of the amount received viz amount involving the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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