IN THE ITAT, JAIPUR BENCH
RAMESH C. SHARMA, A.M. & SANDEEP GOSAIN, J.M.
Nawal Kishore Soni v. ACIT
ITA Nos. 1256, 1257, & 1258/JP/2019, ITA Nos. 1307, 1308, & 1309/JP/2019
15 September, 2020
Assessee by: S.R. Sharma, CA & Rajni Kant Bhatra, CA
Revenue by: Ambrish Bedi, Commissioner--Departmental Representative
Sandeep Gosain, J.M.
These are the cross appeals filed by the assessee and Revenue against three different orders of learned Commissioner (Appeals)-4, Jaipur, dated 3-9-2019 for the assessment years 2015-16 to 2017-18 in the matter of orders passed by the assessing officer under section 143(3) read with section 153C of the Income Tax Act, 1961 (in short, the Act). The assessee and the Revenue have raised the following grounds of appeal in respective assessment years.
ITA No. 1256/JP/2019--Assessment year 2015-16-Assessee
''1. That on the facts and in the circumstances of the case, the learned Commissioner (Appeals) is wrong, unjust and has erred in law in upholding rejection of books of account of the assessee by the assessing officer by invoking the provisions of section 145(3) of the Income Tax Act, 1961 and in further sustaining addition of Rs. 10.00 lacs in the hands of the assessee on this count.
2. That on the facts and in the circumstances of the case, the learned Commissioner (Appeals) is wrong, unjust and has erred in law in upholding finding recorded by the assessing officer that the assessee has allegedly made investment of capital for alleged unrecorded transactions of Rs. 91,53,55,592 and in fu9rther sustaining addition to the extent of Rs. 15,74,496 on this count which was worked out on the basis of proportion of actual capital of Rs. 34,96,965 for declared turnover of Rs. 203,30,09,914.
ITA No. 1257/JP/2019--Assessment year 2016-17-Assessee
''1. That on the facts and in the circumstances of the case, the learned Commissioner (Appeals) is wrong, unjust and has erred in law in upholding rejection of books of account of the assessee by the assessing officer by invoking the provisions of section 145(3) of the Income Tax Act, 1961 and in further sustaining addition of Rs. 10.00 lacs in the hands of the assessee on this count.