TMI Blog2022 (12) TMI 788X X X X Extracts X X X X X X X X Extracts X X X X ..... y to any of the notices and even before the ld. CIT(A) the assessee did not appear on any occasion and similar lethargic approach of the assessee stands continued before this Tribunal. Also, the assessee has not filed any application stating any reasonable cause for not appearing on the given dates of hearing. Except filing the appeal, there is no other effort from the side of the assessee to pursue its appeal. Unless and until the documents and the other materials are filed to explain the alleged cash credit it is not possible to accept the grounds raised by the assessee and thus, it is presumed that the assessee is unable to explain the source of alleged security premium. No infirmity in the detailed finding of ld. AO as well as CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Order is bad in law, illegal, and in violation of rudimentary principal of contemporary jurisprudence. 3. That the Hon'ble Commissioner of Income Tax (Appeal) has erred in law and on facts in confirming the addition of share premium of Rs. 19,17,30,000/- as unexplained cash credit despite the fact the no such share premium was received during the year under the consideration. 4. That the Hon'ble Commissioner of Income Tax (Appeal) has erred in law and fact While confirming the addition of Rs. 9,077/- on account of non-verification of expenses incurred by the assessee despite the fact that all expenses were supported with the vouchers. 5. That the Appellant craves leave to add/alter any/all grounds of appeal before or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 19,17,39,080/-. 5. Aggrieved, the assessee preferred appeal before ld. CIT(A) and on four occasions failed to appeal and notices sent through postal authorities were returned unserved on two occasions for insufficient address, company not found at the registered address and on two occasions there was no response. Since the assessee failed to produce any material to controvert the finding of ld. AO and the conduct of the assessee being consistent of avoiding the date of hearing, ld. CIT(A) confirmed the finding of ld. AO. 6. Aggrieved the assessee is now in appeal before this Tribunal. On multiple occasions notice of hearing were sent through registry post but there is no compliance. Ld. D/R supported the order of both the lower aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en dates of hearing. Except filing the appeal, there is no other effort from the side of the assessee to pursue its appeal. Unless and until the documents and the other materials are filed to explain the alleged cash credit it is not possible to accept the grounds raised by the assessee and thus, it is presumed that the assessee is unable to explain the source of alleged security premium. 8. Under these given facts and circumstances of the case, we fail to find any infirmity in the detailed finding of ld. AO as well as ld. CIT(A) duly supported by judicial pronouncements and therefore, the addition for unexplained security premium u/s 68 of the Act is confirmed. Thus, all the grounds raised by the assessee are dismissed. 9. In the res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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