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TMI Blog2019 (3) TMI 1035X X X X Extracts X X X X X X X X Extracts X X X X ..... proceeding u/s 263 by C.I.T. Pune. 2) Ld. CIT Appeal Pune has erred in ignoring that the confirmation of Rs. 5.00 lacs submitted in the original proceeding u/s 143(3) and were accepted by the I.T. Officer. 3) The appellant craves leave to add, amend, modify, alter, revise, substitute, delete any or all grounds of appeal, if deemed necessary at the time of hearing of the appeal. 4) The appellant craves leave to produce such further evidence as and when occasion demands." 3. Briefly stated the relevant facts include that the assessee is an individual and filed his return of income on 27.07.2011 declaring total income of Rs. 3,19,230/-. In the original assessment, the Assessing Officer made an addition of Rs. 40,550/-. There was an audi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... creditors. Therefore, the Assessing Officer made addition on account of cash credit. The Assessing Officer also initiated the penalty proceedings u/s 271D of the Act read with section 269SS of the Act. The CIT(A) confirmed the addition as per discussion given in para 9 of his order and the same is extracted hereunder :- "9. I have carefully perused the above reply of the appellant. I find that the appellant has not made any submissions, oral or written, to substantiate the cash unsecured loans of Rs. 5,00,000/-. The reply of the appellant is totally silent on the merits of the addition. On the other hand, the A.O. has categorically given a finding that the confirmations submitted by the appellant in respect of the unsecured loans do not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt are maintained by the assessee and entry appears in the books. When such requirement is not there, Assessing Officer's decision in invoking the said provisions becomes unsustainable. However, on perusal of the order of the CIT(A), this angle of an argument was not taken by the assessee. As such, the assessee failed to file relevant decisions to support his argument relating to sustainable of the addition of Rs. 5,00,000/- u/s 68/69 of the Act. Therefore, we are of the opinion, the matter should travel to the file of the CIT(A) for want of a speaking order after considering the above stated arguments raised by the assessee before us. Further, we direct the CIT(A) to entertain the evidences, if any, regarding the identity, genuineness and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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