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TMI Blog2015 (10) TMI 1709X X X X Extracts X X X X X X X X Extracts X X X X ..... were not produced before the AO as well as before the Ld. CIT(A) for reasons mentioned above. Therefore, in our considered opinion, there is a need to examine in detail that how much the undisclosed income of the assessee is from his business or from the LIC commission being agent, after verifying the documents, bills and vouchers. Therefore, in the interest justice the issues in dispute are remitted back to the Assessing Officer to decide the same denovo. Needless to add that the assessee should be given adequate opportunity of being heard. Assessee is also directed to cooperate with the AO and submit all the details, bills and vouchers in support of his contention. - Decided in favour of assessee for statistical purposes. - I.T.A. No. 63 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urces. The Assessing Officer further held that the cash deposits in the savings account of the appellant remained unexplained and therefore, he added the peak deposit of ₹ 15,74,585 as the income of the appellant from undisclosed sources during the relevant assessment year. The assessment was completed u/s 143(3) of the IT Act vide order dated 19.12.2011. 3. Aggrieved by the aforesaid addition the assessee filed the appeal before the Ld. CIT(A), who vide impugned order dated 16.8.2013 has held as under:- 5. I have carefully considered the submissions of the Ld. AR and have gone through the Assessment Order. It is observed that during the course of assessment the Assessing Officer provided opportunity to the appellant to prove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pport of his contention, he filed the brief synopsis, which reads as under:- 1. Appellant was a Retail Trader of Food Grains and filed Income Tax Return for 2009-10 u/s 44AF. 2. Appellant has shop at Food Grain Market at Moti Nagar Delhi wherein Rice and Channa is traded. 3. Purchases are made in cash or settled on Next Purchase from Agriculturists who bring Rice and Channa on Tractor /Trolleys small Trucks. Rice and Channa is purchased at prevalent Market Rate and payment is made in Cash at the time of Purchase or on subsequent day. No Voucher Or Bills are submitted by Agriculturists and all purchases are in Cash. Rice and Channa is spread out at shops in Market wherein Rice and Channa is purchased and sold. All ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his claim being engaged in the business of supply or rice, grain etc. In the absence thereof, the AO held that assessee is not engaged in any kind of business and he has deposited cash out of some undisclosed sources, hence, he added the peak deposit of ₹ 15,74,585/- as the income of the assessee from undisclosed sources. We also find that Ld. CIT(A) has directed the AO to reduce the income of the assessee by ₹ 334070/- from the peak deposit of ₹ 15,74,585/- and balance addition of ₹ 12,40,515/- was confirmed. However, the Ld. Counsel of the assessee submitted that assessee was a Retail Trader of Food Grains and filed Income Tax Return for 2009-10 u/s 44AF and has a shop at Food Grain Market at Moti Nagar Delhi wher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave submitted the same in appeal, but in the case the same has not been submitted by his A.R., he should be given time to file the same afresh but ignoring the said submission of the assessee the Ld. CIT(A) passed the impugned order without affording any such opportunity to the assessee. 6.1 From the above, we find that assessee is regularly filing the income tax return from his business income and from LIC commission being agent, hence, it cannot be said that the assessee is not engaged in the business of supply of rice, grain etc. We also find considerable cogency in the assessee s contention that no the details of vouchers and bills were not produced before the AO as well as before the Ld. CIT(A) for reasons mentioned above. Therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X
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