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Income Tax Appellate Tribunal, “I” BENCH
Before: SHRI RAJENDRA, AM & SHRI C.N.PRASAD, JM
PER C.N.PRASAD (J.M.) : All these appeals are filed by Revenue and Assessee for the assessment years 2005-06 to 2007-08 against various orders of the Commissioner (Appeals). The Assessee filed the appeals wherever the CIT confirmed the additions made by the Assessing Officer towards unsecured loans as unexplained cash credits under Section 68 of the Act and the Revenue filed appeals for the Assessment years
2 2005-06 to 2007-08 against the deletion of additions made by the CIT (Appeals) in respect of share application money which was treated as unexplained cash credit under Section 68 by the Assessing Officer.
These appeals were posted for hearing on several dates from time to time and there was no representation by the Assessee in any of the occasions on the day the matters were listed. The Bench directed the CIT DR to serve notice to the Assessee. When the matter came up for hearing on 1st November 2016, the Learned DR informed the Bench that the Assessing Officer deputed Inspector to serve the notice of hearing at the premises of the Assessee namely Accurate Mercantile (P) Ltd., Hindvi Bhawan, Shop No.1, Plot No.13, Sector-I, Vashi, Navi Mumbai- 400703. The DR submits that since the Assessee does not exist at the given address, the Inspector affixed the notice of hearing at the given address and sent report dated 19/09/16 to the Dy.Commissioner of Income Tax (Central Circle) 8(2), Mumbai, who in turn informed the