9911796707
TMI Blog2021 (2) TMI 470X X X X Extracts X X X X X X X X Extracts X X X X ..... e details before the CIT(A), but the same was neither examined nor considered. Consequently, the assessee had filed application u/s 154 but CIT(A) rejected the application u/s 154 on the ground that the detailed written submissions were filed on 23.01.2018, and therefore, not considered in the appellate order, which was passed on 17.01.2018. Admittedly, the assessee s books of account are audited and copies of the books of account audited are placed in the paper book filed by the assessee. In the interest of justice and equity, we are of the view that the matter needs to be examined de novo by the A.O - thus addition is restored to the files of the A.O - Decided in favour of assessee for statistical purposes. - ITA No.2577/Bang/2018 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e course of assessment proceedings, the assessee was asked to explain the source of cash deposits amounting to ₹ 87,32,900 in his savings bank account with Canara Bank. The assessee vide letter dated 01.11.2016 stated that cash withdrawals from various banks, i.e., Corporation Bank, OD accounts of Canara Bank, represent the cash deposits in Canara Bank SB account No.692 totaling to ₹ 87,32,000. The Assessing Officer, however, did not accept the submissions made by the assessee for the reason that the cash withdrawals made from various banks in April 2013 were deposited in June 2013 and some of the cash withdrawals made in July 2013 were only deposited in November 2013, December, 2013, January 2014 and March 2014. Accordingly, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the absence of proof. The addition of ₹ 81,48,424/- is therefore confirmed. 6. Aggrieved by the order of the CIT(A), the assessee has preferred this appeal before the Tribunal. The learned AR submitted that the CIT(A) has ignored to examine Annexure-A which represent the details of source of cash deposits. Copy of Annexure-A filed before the AO and the CIT(A) is furnished in the paper book filed by the assessee. The paper book filed by the assessee comprises of 208 pages enclosing therein the copies of computation of income, balance sheet, profits and loss account with the schedule for assessment years 2014- 2015 and 2013-2014, etc. The assessee has also furnished copies of summary of bank statements of Canara Bank SB account, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee that the source of cash deposits was out of cash withdrawals from various bank accounts with Corporation Bank Account No.0025, Canara Bank OD account No.244, Canara Bank Current Account No.534 and Canara Bank Saving Bank Account No.13692, cannot be accepted, since cash withdrawals from various banks in April 2013 was deposited in June 2013 and some of the cash withdrawals from July 2013 were deposited in November 2013, December 2013, January 2014 and February 2014. According to the A.O. from the statement of cash deposits, it is clear that these deposits were made after 3 to 4 months from the date of withdrawals and therefore, source of cash deposits in saving bank account is not properly explained. The assessee has filed a let ..... X X X X Extracts X X X X X X X X Extracts X X X X
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