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| The Tax Publishers2020 TaxPub(DT) 1324 (Hyd-Trib) INCOME TAX ACT, 1961
Section 147
Since assessee neither appeared nor rectified defects nor filed any information to substantiate his claim of deposits being commission income despite several adjournments of hearing, no reason was found to interfere with order of AO.
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Reassessment - Validity - Defect in appeal not rectified by assessee despite several adjournments -
Assessee was aggrieved by order of AO passed under section 143(3) read with section 147 treating entire saving banks deposits of Rs. 35,85,400 as unexplained income of assessee. Held: it was noticed that appeal was defective and when same was pointed out for assessee, he sought time for rectification of the same. Since assessee neither appeared nor rectified defects nor filed any information to substantiate his claim of deposits being commission income, no reason was found to interfere with order of AO/CIT(A). Accordingly, assessee's appeal was dismissed.
REFERRED :
FAVOUR : Against the assessee
A.Y. : 2014-15
IN THE ITAT, HYDERABAD BENCH
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