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TMI Blog2021 (2) TMI 470X X X X Extracts X X X X X X X X Extracts X X X X ..... The learned Departmental Representative was duly heard on the delay condonation petition. We have perused the reasons stated in the Affidavit for belated filing of this appeal. The delay in filing of this appeal cannot be attributed to any latches on the part of the assessee and there is sufficient cause for condonation of delay. Accordingly, we condone the delay in filing of this appeal and proceed to dispose of the appeal on merits. 3. The solitary issue that is raised is whether the CIT(A) has erred in confirming the addition made by the Assessing Officer u/s 68 of the I.T.Act amounting to Rs. 81,48,424. 4. The brief facts of the case are as follow: The assessee is an individual. For the assessment year 2014-2015, the return of incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssions along with respective bank accounts in support of his case that cash deposits were made in the saving bank account represented the amounts withdrawn from various current accounts as well as OD account. The CIT(A), however, did not appreciate the submissions made by the assessee and dismissed the appeal of the assessee. The relevant finding of the CIT(A) reads as follow:- "8. The AO has brought to tax those cash deposits which were not adequately explained by appellant. The appellant has sought to explain the same in during appellate proceedings but has failed to demonstrate that the deposits were made out of withdrawals from other declared bank accounts belonging to him or to his business. Though the appellant has repeatedly claime ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank Saving Bank account. The assessee also furnished current account maintained by the assessee with Canara Bank for his business transactions. 7. The learned Departmental Representative, on the other hand, submitted that there has been long delay between the period of withdrawal of cash and deposit in assessee's SB account. Consequently, it was stated that there was no proper explanation with regard to the source of cash deposits. Therefore, it was contended that the ITAT should not interfere with the order of the CIT(A). The learned DR also relied on the order of the Hyderabad Benches of the Tribunal in the case of Mir Basheeruddin Ali Khan v. ITO reported in [2014] 42 taxmann.com 69 (Hyderabad-Trib.). 8. We have heard rival submissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 54 of the I.T.Act. The CIT(A) rejected the application u/s 154 of the I.T.Act vide order dated 30.06.2018 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. Accordingly, the issue of addition of Rs. 81,48,424 is restored to the files of the A.O. The assessee shall cooperate with the Department and furnish necessary details to prove the source of cash deposit. The Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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