This appeal has been filed by the assessee against the impugned appellate order dated 23.12.2016 passed by Learned Commissioner of Income Tax (Appeals)-23, New Delhi [in short, “Ld.CIT(A)”] pertaining to Assessment Year 2013-14. The Assessee has raised following grounds of appeal:-

That the Ld. C.I.T.(A) has erred in sustaining the assessment as ‘Best judgement assessment’ u/s 144 of the I.T. Act, 1961, as the assessee has not given an opportunity of being heard and a right to question the correctness or the relevancy of the materials on the basis of which the Ld. A.O. proposes to make the best judgment assessment.

That the Ld. C.I.T.(A) has erred in sustaining the baseless addition on account of purchase of Bonds/Debentures of Rs. 20,00,000/- as unexplained investment u/s 68 of the I. T. Act, 1961 as the Ld. A.O. has made the said addition merely on the basis of information, without proving the investment has been made by the assessee.

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