TMI Blog2023 (1) TMI 168X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act. Assessee preferred appeal before the ld. CIT(A). Even before the ld. CIT(A), no one appeared on behalf of the assessee and since neither anyone appeared nor furnished any details, the ld. CIT(A), under the circumstances, upheld the order of the Assessing Officer. Before us, no power of attorney was filed by any counsel. However, as observed above, one Ms. Trisha Lahiri had appeared and sought adjournment. When she was directed to furnish the identity, details, address of the assessee etc., she disappeared and thereafter, no one has attended the hearing. As observed above, neither any document or details has been furnished before the Assessing Officer nor before the CIT(A) and even before us neither anyone has appeared nor an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entation. 3. That, on the facts and in the circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals) has failed to consider that the Ld. Assessing Officer erred in making addition of Rs. 1,41,00,000/- as unexplained cash credits u/s 68 of the Income Tax Act, being the Share Capital and Securities Premium. 4. That, on the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) failed to consider that the Ld. Assessing Officer erred in initiating penalty proceedings u/s 271(1)(b) 271(1)(c) of the Income Tax Act, 1961. 2. Before we proceed to deliberate on the facts of the case, it is pertinent to mention in brief the case history of this appeal. The following order was pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directed to Ms. Trisha Lahiri to file proper details of the assessee-appellant as well as details of the concerned counsel for the assessee for the purpose of establishing identity and existence of the appellant. It has been observed several times that in many cases, though the appellants/ concerned assessees are not traceable at the given address but at the same time, the appellants file and pursue their appeals by way of back channel even by concealing their address and identity and adjournments are sought. This, in our view, is being done for the purpose of that if the appeal is decided against the assessee then the department will not be able to recover the due taxes. The assessee being a paper company would not be traceable. A perusal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, in this case, therefore, has not come to the court with clean hands. 4. Now, coming to the merits of the case, the Assessing Officer, in this case, has made the impugned additions on account of unexplained cash credits, on account of share capital of Rs.2,40,000/- along with share premium of Rs.1,38,60,000/-. It is to be noted that on being asked the assessee to explain in this respect, neither anyone appeared on behalf of the assessee nor furnished any details. Therefore, the Assessing Officer proceeded to frame the assessment considering that the assessee has not furnished any details, documents whatsoever in respect of aforesaid claim of share application and share premium. Therefore, the Assessing Officer, under the circumstances, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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