SHRI ASHOK GOEL,GHAZIABAD vs. ITO, GHAZIABAD

This appeal by the assessee is directed against the order dated 23rd June, 2015 passed by the CIT(A), Ghaziabad, relation to the Assessment Year 2011-12.

Although a number of grounds have been raised by the assessee, they all relate to the order of the CIT(A) in confirming the various additions made by the Assessing Officer wherein the income was assessed at Rs.64,43,920/- as against Rs.1,62,800/- declared by the assessee in the return of income.

Facts of the case, in brief, are that the assessee is an individual and filed his return of income on 29th June, 2011 declaring the total income at Rs.62,800/-. The assessee derives income from salary, interest income and income from other sources.

In appeal, the ld.CIT(A) upheld the various additions made by the Assessing Officer.

Aggrieved with such order of the CIT(A), the assessee is in appeal before the Tribunal.

The ld. counsel for the assessee filed an application for admission of additional evidence under Rule 29 of the ITAT Rules. Referring to the voluminous evidences filed in the shape of a paper book containing 513 pages, the ld. counsel for the assessee submitted that huge effort was required on behalf of the assessee to collect the various evidences from third parties to substantiate his case. He submitted that the assessee was prevented by sufficient causes in producing these evidences before the Assessing Officer due to paucity of time. Referring to the order of the Tribunal in assessee’s own case for the immediately preceding assessment year, he submitted that the Tribunal, after considering the additional evidences has restored the matter to the 2 file of the Assessing Officer for fresh adjudication of the issue. He, accordingly submitted that he has no objection if the matter is restored to the file of the Assessing Officer. Even otherwise also he submitted that he is in a position to argue his case on merit.

The ld. DR, on the other hand, strongly opposed the additional evidences filed by the assessee. He submitted that there is no reason for the assessee for non- submission of these details before the Assessing Officer, therefore, the additional evidences should not be admitted and the appeal filed by the assessee should be dismissed since the ld.CIT(A) has passed a very speaking order on the various issues.

We have considered the rival arguments made by both the sides and perused the material available on record. We find as against the returned income of Rs.1,62,800/-, the Assessing Officer has completed the assessment determining the total income at Rs.64,43,920/-, wherein huge additions have been made on account of unexplained credits apart from addition on account of interest income and disallowance of extra deduction u/s 80C. We find the assessee has filed certain additional evidences and has requested the Tribunal to accept these evidences under Rule 29 of the ITAT Rules.