Case Law Details
Baldev Kumar Vs ITO (ITAT Delhi)
On perusal of the assessment order, it appears that the assessee has deposited cash amount to Rs.19,49,553/- in the savings bank account in Financial Year 2011-12 relevant to Assessment Year 2012-13 in question. The Assessing Officer attempted to make inquiry on the source of such cash deposits but however the matter was proceeded ex-parte in the absence of compliances.
In the light of the assertions made towards non compliance before Assessing Officer and CIT(A), we consider it expedient to restore the matter back to the file of the Assessing Officer to take the case to the logical conclusion. It will conduce to effective administration of justice where one more opportunity is given to Assessee to demonstrate bona fide of its case. The assessee is however cautioned to diligently attend the assessment proceedings and fully co-operate with the Revenue Authorities in the matter without any demur.
We thus set aside the order of the CIT(A) and restore the matter back to the file of the Assessing Officer. It shall be open to the Assessing Officer to make such inquiry as he may consider it expedient and pass an assessment order afresh in accordance with law.
FULL TEXT OF THE ORDER OF ITAT DELHI
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