9911796707
TMI Blog2020 (11) TMI 558X X X X Extracts X X X X X X X X Extracts X X X X ..... - can be treated as the unaccounted income earned by the assessee to meet the end of justice. Hereby sustain the addition as the unaccounted income of the assessee. - ITA No.722/Hyd/2018 - - - Dated:- 8-7-2020 - Shri A. Mohan Alankamony, Accountant Member For the Assessee : Sri Mohd. Afzal For the Revenue : Sri Rajat Mitra, DR ORDER PER A. MOHAN ALANKAMONY, AM.: This appeal is filed by the assessee against the order of the Ld. CIT (A)-10, Hyderabad in appeal No. 0287/CIT (A)-10/2015-16, dated 30/05/2016 passed U/s. 143(3) r.w.s 147 and U/s. 250(6) of the Act for the AY 2005-06. 2. At the outset, it is observed from the record that there is a delay of 544 days in filing the appeal before the Tribunal. In this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with a trust the assessee was under an impression an appropriate action was taken by the Authorized Representative, which proved to be not correct. Considering the facts and circumstances and the ignorance of the assessee on account of lack of education of not being persuasive, the Hon ble Bench is pleaded to condone the delay of 544 days to admit the appeal to adjudicate the matter on merits. 3. On perusal of the explanation given by the assessee which is supported by the affidavit of Mr. S.S. Chary, Junior Assistant and Mr. M.V. Raja Sekhar Rao, Chartered Accountant wherein the reasons for delay in filing the appeal before the Tribunal is explained, I find to be reasonable, because the delay in filing the appeal is not attributa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the amount deposited in the bank account is duly accounted and did not escape tax. Aggrieved by the order of the Ld. CIT (A) the assessee is now in appeal before us. 6. During the course of scrutiny assessment proceedings, the Ld. AO had directed the assessee to produce proper evidence to establish the source for the bank deposit of ₹ 12,93,408/-. The assessee had explained that the amount deposited in the bank account was out of the sale proceeds of his partnership firm M/s. Shri Shakthi Wines. It was further explained that due to dispute between the partners for certain period the bank account of the firm was not operated and therefore the assessee had opened another bank account and the sale proceeds from the firm was deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for confirming the same. 8. I have heard the rival submissions and carefully perused the materials on record. From the facts of the case it is apparent that neither the assessee nor the firm M/s. Shri Shakthi Wines has maintained proper books of accounts. The bank account wherein the assessee had deposited the amount of ₹ 12,83,408/- is also not reconciled with the business operation of M/s. Shri Shakthi Wines. The Ld. AO as well as the Ld. CIT (A) after obtaining a remand report from the Ld AO has made a categorical finding on this regard. Further, even before us the assessee has not produced any cogent evidence to establish that the amount deposited in the bank account of the assessee for ₹ 12,83,408/- has not escaped tax. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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