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04-06-2019, Mukesh Sharma, Section 250(1), 292C, 132(4A), Tribunal Indore

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3 months 2 weeks ago #9655 by amit
Section - 250(1), 292C, 132(4A), 158BC, 132, 54, 34
Order Date - 04-06-2019
Favouring - Partly allowed for statistical purposes
Court - Tribunal Indore
Appellant - ACIT
Respondent - Mukesh Sharma
Justice - KUL BHARAT JM & MANISH BORAD AM
Citation - 619Taxpundit71
Appeal No. - ITA (SS)No. 88/Ind/2013
Asstt. Year - 2009-2010

Order

PER : KUL BHARAT

The above captioned appeals are filed against the following orders of the ld. CIT(A):

2. As most of the issues raised in these appeals are common, these were heard together and therefore are being disposed off by this common order for sake of convenience and brevity.

3. We will first take up the Revenue’s appeal and assessee’s cross objection in the case of Shri Mukesh Sharma pertaining to A.Y.2009-10

4 Briefly stated facts as culled out from the records are that the assessee is an individual deriving income from business and profession and agriculture. Search and seizure action u/s 132 of the Act was conducted at residential premises of the assessee on 21.07.2008. During the course of search various incriminating material were found and seized. During the course of search proceeding assessee surrendered income on various counts. Consequently, notice u/s 153A of the Act dated 10.07.2009 served upon the assessee for making necessary compliances. The assessee filed return of income on 11.02.2010 in response to notice u/s 153A of the Act for A.Y.2009-10 declaring total income of Rs.4,55,29,800/- and agricultural income of Rs.12,13,089/-.

Questionnaire was issued calling various informations. Details filed by the assessee were examined along with seized documents. Income assessed at total income of Rs.7,79,03,480/- after making following additions to the income shown by the assessee:-

5. Against various additions made by the Ld. Assessing Officer (in short Ld. AO) assessee filed appeal before the Ld. CIT(A) and partly succeeded.

6. Now the revenue is in appeal against the addition deleted by the Ld. CIT(A) and assessee has filed cross objection raising following grounds:

I.T.(SS) No.88/Ind/2013 (Revenue)

“On the facts and in the circumstances of the case, the CIT(Appeal) has erred in

1. Not following the provisions of section 250(1) of the Income Tax Act 1961 by not giving a notice to the Assessing Officer of the date and place for the hearing the appeal,

2.Not following the provisions of section 250(2) of the Income Tax Act 1961 by not providing the Assessing Officer an opportunity of being heard at the hearing of the appeal.

3.admitting additional evidences without following the provisions of rule 46A of the Income Tax Rules and relying on the facts of the case not presented by the assessee before the AO

4. deleing the addition of Rs. 50500/- made by the AO on account of nongenuine agricultural income treated

5 deleing the addition of Rs. 15000000/- made by the AO on account of unexplained investment in share

6.deleting the addition of Rs. 580555/- made by the AO on account of unexplained investment in gold

7.deleting the addition of Rs. 8746000/- made by the AO on account of payment of on money for purchase of land.

8. deleting the addition of Rs. 6500000/- made by the AO on account of non genuine unsecured loans.

The appellant reserves his right to add, amend or alter the grounds of appeal on or before the date, the appeal is finally heard for disposal.

C.O.No.76/Ind/2014 (Assessee)

That on facts and circumstances of the case and in law and in any view of the matter, the Ld. Assessing officer and Ld. CIT (A), Bhopal have erred in assessing and upholding the agricultural income at Rs 25,000/- and Rs.30,000/- per acre respectively as against total agricultural income declared Rs.12,13,089/- for 10.1 acres of agriculture land which come to Rs.1 20,100/- per acre. The summary of which is as under:

2. That on facts and circumstances of the case and in law and in any view of the matter, Commissioner of Income Tax (Appeals), Bhopal has correctly deleted the addition of Rs. on account of alleged unexplained investment in shares.

3. That on facts and circumstances of the case and in law and in any view of the matter, the Id Assessing Officer and Ld. Commissioner of Income Tax (Appeals), Bhopal , have erred in making and up holding the addition of Rs. 6,67,090/- and Rs 86,535/- on account of unexplained investment in Jewelry.

4. That on facts and circumstances of the case and in law and in any view of the matter, the Id Commissioner of Income Tax (Appeals), Bhopal has correctly deleted the addition of Rs. 87,46,000/- on account of alleged unexplained investment as payment of on money in purchase of land.

5. That on facts and circumstances of the case and in law and in any view of the matter, the Id Assessing Officer and Id Commissioner of Income Tax (Appeals), Bhopal , have erred in making and up holding the addition of Rs. 70,00,000/- and Rs. 5,00,000/- on account of non genuine unsecured loans. That, the respondent craves leave to add and/or amend any ground(s) of the cross objection before and/or at the time of hearing. Revenue’s appeal for A.Y. 2009-10 in case of Mukesh Sharma

7. Though ground No. 1 & 2 of Revenue has challenged the validity of the order of Ld. CIT(A) contending that the ld. CIT(A) has not followed the provisions of section 250(1) of the Act by not giving the notice to the Assessing Officer of the date and place for the hearing of the appeal.

8. At the outset, Ld. Departmental Representative (DR) placed on record letter dated 13.03.2019 requesting for not pressing ground No.1 & 2 raised in this appeal. Learned Authorised Representative (in short AR) did not oppose.

9. We have heard the rival contentions and perused the record placed before us. From going through the letter issued by the Office of Commissioner of Income Tax (DR) bearing No.FCIT(DR)I.T.A.T./Ind/2018-19 dated 13.05.2019 we observe that the department has requested for not pressing ground No.1 & 2 raised by the Revenue in IT(SS) No.88/Ind/2013. We, therefore, dismiss ground No.1 & 2 as not pressed.

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