Vikram Tatyaba Chatur Vs ITO (ITAT Pune)
ITAT Pune held that ex-parte order sustaining addition under section 69A of the Income Tax Act on account of non-compliance on the part of the assessee not justified since relevant notice and order were served to old e-mail of the assessee. Accordingly, matter restored back to the file of AO.
Facts- The assessee is an individual and has not filed his original return of income for the impugned assessment year. It was observed by AO that the assessee has deposited cash of Rs.1,55,23,330/- and has withdrawn a sum of Rs.2,43,11,902/-. Since the assessee had not filed his return of income, AO reopened the assessment as per provisions of section 147 of the Income Tax Act, 1961 and issued notice u/s 148 of the Act which was duly served on the assessee. Since the assessee neither filed any return nor participated in the assessment proceedings and did not file any submission explaining the source of such cash deposits in the bank account, AO completed the assessment u/s 144 of the Act by making addition of Rs.1,55,23,330/- being the cash deposited treating the same as ‘Income from other sources’ and taxed u/s 69A r.w.s. 115BBE of the Act.
