Case Law Details
Adim Jati Seva Sahkari Samiti Maryadit Vs ITO (ITAT Raipur)
ITAT Raipur held that confirmation of addition under section 69A of the Income Tax Act towards unexplained money by CIT(A) in absence of any evidence justified as assessee adopted lackadaisical approach and evaded from participating in proceedings before CIT(A).
Facts- The present appeal is preferred by the assessee mainly contesting that ex-parte appellate order passed by CIT(A) is highly unjustified, bad-in-law, without providing reasonable opportunity of being heard, against the principles of natural justice and not in accordance with provisions of law.
Assessee also contested that CIT(A) has erred in confirming addition made by AO on account of cash deposits in the Bank account of the appellant by invoking provisions of section 69A r.w.s. 115BBE of the Act.
Conclusion- Held that in the absence of any evidence whatsoever, whether documentary or otherwise, which would reveal that there was no justification for treating the cash deposits of Rs. 2,47,65,369/- in the assessee’s bank account as its unexplained money u/s.69A of the Act, we are of a firm conviction that no infirmity emerges from the order of the CIT(Appeals) who had rightly approved the order passed by the A.O u/s 144 of the Act, dated 11.12.2019.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
