TMI Blog2022 (12) TMI 284X X X X Extracts X X X X X X X X Extracts X X X X ..... ort of it s claim and for the adjudicating authority to decide upon the sustainability of the claim or the basis of the evidence led by the parties before it. In the instant case, at the time of hearing, the assessee neither appeared nor brought on record any material to substantiate it s claim. We, therefore, find no fallacy in the findings of Ld. CIT(A) and accordingly, the order of the Ld. CIT(A) is upheld. Resultantly, the ground of appeal raised by the assessee before the Tribunal is dismissed. - ITA.No.2208/Del./2019 - - - Dated:- 20-10-2022 - SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER For Assessee: None For Revenue: Shri Abhishek Kumar, Sr. DR ORDER PER ANIL CHATURVEDI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e vide letter dated 14.06.2017 submitted that the return filed by the assessee under section 139(1) of the I.T. Act, 1961 be treated as return of income filed under section 153A of the I.T. Act, 1961. Thereafter, assessment was framed under section 153A r.w.s. 143(3) of the I.T. Act, 1961 vide order dated 28.12.2017 and the total income of the assessee company was determined at Rs.16,01,57,780/- by inter alia making addition of Rs.15,62,50,000/- on protective basis and addition of Rs.39,06,250/- being unexplained expenditure. 2.1. Aggrieved by the order of the A.O, the assessee carried the matter in appeal before the Ld. CIT(A) who vide order dated 07.01.2019 in Appeal No.238/2017-18 granted partial relief to the assessee. 3. Aggrieve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terial on record. 5. The brief facts pertaining to the ground of appeal raised by the assessee before the Tribunal are that, the A.O. on perusal of the Balance-Sheet of the Assessee-Company has noted that it had made investments in the equity shares of M/s. Surya Processed Food Pvt. Ltd., for an amount of Rs.15,62,50,000/-. The A.O. for the reasons noted in the assessment order and after considering the pre-search and post-search enquiries conducted, concluded that assessee was a paper company utilised by the Priya Gold group for rotating its own unaccounted fund as share capital/share premium. The A.O. noted that Priya Gold group has obtained accommodation entry in the form of share capital from the assessee-company by following the mod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de by the A.O. on account of unexplained income of Rs.39,06,250/- being the commission earned for giving accommodation entry of Rs.15.62 crores and which was upheld by the Ld. CIT(A). We find that the A.O. after examining the records and for the detailed reasons given in the assessment order has made the addition and the same was upheld by the Ld. CIT(A). When appeal is filed before the Tribunal by the assessee against the order of lower authorities, it is expected that the assessee may put-forth some documentary evidences in support of his contentions to decide the appeal as it is the duty of the assessee to lead evidence in support of it s claim and for the adjudicating authority to decide upon the sustainability of the claim or the basis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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