ITO Vs Rajeshkumar Theophilbhai Christie (ITAT Ahmedabad)
ITAT Ahmedabad held that CIT(A) relied upon fresh submissions and additional evidence filed by the assessee, however, no opportunity was granted to AO to examine the fresh evidences. Accordingly, order set aside and remanded back for fresh consideration.
Facts- Assessee had deposited cash of Rs.12,82,000/-in Development Credit Bank Ltd., Vejalpur, Ahmedabad during the demonetization period. As no return of income was filed by the assessee for A.Y. 2017-18, a notice u/s. 142(1) of the Act was issued by the AO on 09.03.2018 asking the assessee to file the return. There was no compliance to the notice. AO made enquiry from the Bank under Section 133(6) of the Act and it was found that in the bank account maintained by the assessee total credit of Rs.7,30,32,566/- including total cash deposit of Rs.23,78,505/-was appearing. The AO had also made enquiries in respect of some of the persons whose details were appearing in the bank statement. In the absence of any compliance on the part of the assessee total credit of Rs.7,80,32,566/- appearing in the said bank account was considered as unexplained and added to the income u/s 69A of the Act. Accordingly, the assessment was completed u/s. 144 of the Act on 30.11.2019 at total income of Rs.7,30,32,570/-.
