Home > Experts > Income Tax > Order u/s 143(3) passed - Appeal to be filed


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Order u/s 143(3) passed - Appeal to be filed (Income Tax)

Report Abuse
This query is : Open

Author : Anonymous

( Author )
07 December 2010

Dear sir

AO has made additions u/s 69A on a/c of unexplained cash deposits.

The assessee is filing return u/s 44AF and in the business of Building Material.

During the course of proceedings the Assessee revised his return to increase his T.O. from 9Lac to 25Lac but the A.O. did not accept ( SC -Goetz India Ltd. Vs.CIT) the same as the same is not allowed.

The assessee deposited cash in diffrent dates to the tune of 18 Lac and have some cheque entries( Loan) amounting to Rs. 10Lac. The loan was repaid within a few days during the yr itself.

The Assessee also has made payments to the tune of Rs. 16.57Lac for his son's studies.

The assessee made following submission to the AO at the time of Proceedings--
capital a/c
Opening 11.6 Lac
Profit 1.10
Drawings 1.20 Household
LIC .40

The AO arrived at the figure of addition by adding payment of child fees of Rs. 16.57L and made addition
Fees-school 16.57

Demand notice has been issued alongwith penalty notice u/s271(1)(c)-- Demand 1.25LAC + penalty

Query?
1) On What ground we should file an appeal
2) Can we submit additional evidences in appeal or there is some other way to submit additional evidences.--permission
3)procedure in appeal
4) if we loose whether the penalty can be waived off,if yes whether for that we will have to file separate appeal

5) what are the chances that we win




Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .


Click here to login ( Members Login ) now


Similar Resolved Queries :









submit










Quick Links





back to the top