ITO 25(3) (3), MUMBAI vs. RAJESH L RATHOD, MUMBAI

The aforesaid appeal has been filed by the Revenue against impugned order dated 12/03/2010 passed by the CIT(Appeals)-35, Mumbai in respect of the order of assessment passed u/s 143(3) for the assessment year 2007-08, on the following grounds:-

1. On the facts and circumstances of the case, the ld. CIT(A) erred in restricting the addition on account of undisclosed income from Rs. 16,53,496/- to Rs. 76,441/- relying on the submission of the assessee without appreciating the fact that the same submission was found out erroneous by the A.O. at the time of assessment..

2. On the facts and circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs. 8,24,079/- on account of unsecured loan without appreciating the fact that the genuineness of transaction was not proved.

3. On the facts and circumstances of the case, the Ld. CIT(A) erred in restricting the addition of 10% of total wages to 5% without appreciating the fact that the assessee could not substantiate it’s claim before the Assessing Officer.. 4. The appellant prays that the order of the CIT(A) on the above ground to be set-aside and that of the Assessing Officer be restored. 5. The appellant craves leave to amend or alter any ground or add new ground.

Order pronounced in the open court on 22th February, 2016.