TMI Blog2022 (5) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... dditional evidences/documents, (although some of them are from public domain), were neither examined by the assessing officer nor by ld CIT(A). Therefore, in the interest of justice and fair play for both the parties, we set aside the order of ld. CIT(A) and remit the matter back to the file of Assessing Officer for de novo adjudication, and to decide the matter in accordance to law after giving opportunity of being heard to the assessee. Assessee appeal allowed for statistical purposes. - ITA No. 1223/AHD/2016 - - - Dated:- 5-4-2022 - Shri Pawan Singh, JM And Dr. A. L. Saini, AM For the Assessee : Shri P. M. Jagasheth, CA For the Revenue : Ms Anupama Singhla, Sr. DR ORDER PER DR. A. L. SAINI, ACCOUNTANT MEMBER: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the appeals are stated in brief. The assessee before us is an individual and filed its return of income on 30/09/2012 declaring total income at Rs.26,23,959/-. Subsequently, the return of income was processed u/s 143(1) of the Income-tax Act, 1961. Later on, the assessee`s case was selected for scrutiny and accordingly a notice u/s143(2) of the Act was issued on 09/08/2013. In response to the above notice, the assessee attended from time to time and filed documents and evidences. During the year under consideration, the assessee was engaged in the business of trading and manufacturing of jewellery. From the details submitted during the course of assessment proceedings, it was observed by assessing officer that assessee has during the year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. Smt. Bhavanaben M. Soni 3,00,000 6. Smt. Pushpaben S. Soni 3,50,000 7. Sureshchandra M. Soni 3,50,000 8. Shri Bharatbhai S. Soni 9,00,000 9. Shri Santilal Mangilal Soni 9,00,000 10. Shri Nareshbhai Parekh 8,00,000 11. Shri Jennis Patel 2,85,830 Total 56,76,830 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioned six persons was treated as unexplained and non-genuine. So far as other loan of Rs.56,76,830/- claimed to have been received by the assessee from the above mentioned eleven persons is concerned, the assessee could not submit the corroborate evidence as called for. Therefore, under these circumstances the same was also treated as unexplained and non-genuine by the assessing officer. Since both, the loan of Rs.1,89,23,818/- and Rs.56,76,830/- totaling to Rs.2,46,00,648/- ( Rs.1,89,23,818 + Rs.56,76,830) were treated as unexplained and non-genuine, therefore assessing officer made addition to the tune of Rs.2,46,00,648/-, under section 68 of the Act. 6. Aggrieved by the order of the Assessing Officer, the assessee carried the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hese claimed creditors was ever assessed to wealth tax, although each of these ladies would have been liable to pay wealth tax. In the earlier capital accounts, no such jewellery was shown by these persons, hence these are bogus transactions to cheat the Revenue. The ld DR further pointed out that most of the Indian jewellery contains precious and semi-precious stones, jadau work, synthetic pieces etc. and very rarely would the gross weight and net weight be same. The claim itself fails all tests of probabilities of human behavior. The ld DR also contended that since the assessee has submitted additional evidences therefore the matter may be restored to the file of the assessing officer to examine these additional evidences. 9. We have h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the file of the assessing officer for his examination. It was pointed out by Hon'ble Supreme Court in Suresh Koshy George v. The University of Kerala Ors.(1969 SCR (1) 317) that the rules of natural justice are not embodied rules and in the same case the Hon ble Supreme Court approved the following observations from the judgment of Tucker, L.J. in Russel v. Duke of Norffolk and Ors. (1949) 1 All. England Reports 108): There are in my view, no words which are of universal application to every kind of inquiry and every kind of domestic tribunal. The requirements of natural justice must depend on the circumstances of the case, the nature of the inquiry, the rules under which the tribunal is acting, the subject matter that is ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
