Shramik Nagri Vs ITO (ITAT Pune)
In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that assessee was unable to submit details before CIT (A) due to unfortunate accident of CA.
Assessee had not filed Return for AY 2015-16. Case was reopened and assessment in the matter is completed ex-parte at Rs. 5,03,03, 556/- u/s. 144 r.w.s. 147 on account of of time deposits treating the same as unexplained income u/s. 69A. While completing assessment AO collected statement of accounts u/s 133(6) from various banks and mentioned chart showing time deposits. CIT (A) dismissed appeal ex-parte.
It is submitted that assessee could not file the details before CIT(A) as CA had met with an accident and was admitted in a hospital for a long period. AO himself has mentioned name of the Depositors, Dates and Amounts in the Chart produced by AO in the assessment order. Hence, it is requested to set-aside the matter to CIT (A) for de-novo adjudication. Revenue relied upon the orders of lower authorities.
After considering the submissions ITAT observed that AO himself had mentioned the names of the individuals against each account number and the amounts in the chart. It is clear from the chart that the Individuals have deposited those amounts in the Time Deposits with the bank. This fact was not rebutted by revenue. Hence, amount cannot be taxed in the hands of assessee under section 69A. As assessee unable to file requisite information before CIT (A) due to unfortunate accident of his CA hence matter is remanded back to CIT (A).
