Case Law Details
Facts, in brief, as per relevant orders are that on the basis of information received from the office of Addl.DIT (Investigation), Ghaziabad that the assessee deposited cash in his bank account No.785 in Punjab National Bank, BB Nagar, Ghaziabad during the period April, 1998 to March, 2000 while he did not file his returns for the relevant assessment years, a notice u/s 148 of the Income-tax Act, 1961 (hereinafter referred to as the Act) was issued to the assessee on 24th August, 2005 for the AYs 1999- 2000 to 2000- 2001, after recording reasons in writing.
The assessee did not furnish any return even in response to the said notice nor responded to the said notice. Accordingly, a notice dated 27.03.2006 was issued u/s 142(1) of the Act. None responded to this notice also. Later, the ld. AR on behalf of the assessee appeared before the Assessing Officer [AO in short] on 19th April, 2006 when he was again requested to file the return of income and explain the source of cash deposited in the bank account during the year under consideration. However, on the adjourned date of hearing, none appeared. Subsequently, in response to summons issued u/s 131 of the Act on 19.10.2006, the assessee appeared and his statement was recorded on oath on 30.10.2006,wherein he admitted, inter alia, having purchased house no. SI-23,Shastri Nagar,Ghaziabad in the FY 1999-2000. The assessee also stated that his only source was salary income from the service in Railways and that his household expenditure was Rs. 5,000/- to Rs. 6,000/- pm. In the FYs 1998-99 & 1999-2000. Since the assessee did not explain the source of cash deposited in his bank account in the year under consideration with any cogent evidence despite sufficient opportunity allowed as detailed in the assessment order nor explained sources of investment in house purchased for Rs. 3,00,700/- , the AO added amount of Rs. 1,36,500/- on account of cash credited in bank and `3,00,000 on account of unexplained investment in house
INCOME TAX APPELLATE TRIBUNAL, DELHI
ITA No. 5482/Del/2010 – Assessment year: 2000- 01
Sh. Sanjay Srivastava V/s. Income Tax Officer
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