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TMI Blog2020 (11) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... added to loan amount as well insurance paid by financier on behalf of the assessee to insure the truck purchased by the assessee. Thus, we are remitting the matter back to the file of the AO for fresh adjudication of the matter denovo. The assessee is directed to produce relevant documentary evidences before the AO to justify his stand. The AO shall admit evidences filed by the assessee which shall be adjudicated on merits in accordance with law. Needless to say that the AO shall give proper and adequate opportunity of being heard to the assessee in accordance with principles of natural justice. The ground number 3 filed by assessee in memo of appeal is allowed for statistical purposes. Addition towards cash deposits unexplained - HEL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 30.11.2013 in Appeal No. 31/ITO/R-III(4)/MZP/11-12 passed by learned Commissioner of Income Tax (Appeals,) Allahabad(hereinafter called the CIT(A) ), for assessment year(ay)2009-10, the appellate proceedings had arisen before learned CIT(A) from assessment order dated 23.12.2011 passed by learned Assessing Officer (hereinafter called the AO ) u/s 143(3)of the Income-tax Act, 1961 (hereinafter called the Act ) for ay: 2009-10. We have heard both the parties through video conferencing mode through virtual court. 2. The grounds of appeals raised by assesse in memo of appeal filed with Income- Tax Appellate Tribunal, Allahabad ( hereinafter called the tribunal ) reads as under : 1. That in any view of the matter assessment framed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... miss ground(s) no. 2 5 raised by assessee in memo of appeal filed with tribunal as not being pressed. The ld. DR did not raised any objection if the aforesaid grounds are dismissed as not being pressed. After hearing both the parties, we dismiss grounds no. 2 5 as not being pressed. We order accordingly. 4. Ground no. 1, 6 7 are general in nature and does not require separate adjudication more-so no contentions were raised by learned counsel for the assessee with respect to these grounds thereto and hence these grounds of appeal nos. 1,6 and 7 are dismissed as being general in nature. We order accordingly. 5. Now, we are left with grounds no. 3 4 raised by assessee in memo of appeal filed with the tribunal against which both t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of ₹ 3,34,222/- towards income of the assessee was made by the AO by invoking provisions of Section 69 of the 1961 Act , while framing assessment u/s 143(3) read with Section 143(2) of the 1961 Act. Being aggrieved by an assessment framed by the AO, the assessee filed first appeal with Ld. CIT(A) and the assessee made submissions before learned CIT(A) that out of the above amount , an amount of ₹ 2,44,222/- was on account of advance finance charges on loan granted by financier for purchase of truck which were collected in advance and added to the cost of truck for the purposes of funding by the financier and further an amount of ₹ 90,000/- were insurance being paid by the finance company on behalf of the assessee for a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... merits in accordance with law. Needless to say that the AO shall give proper and adequate opportunity of being heard to the assessee in accordance with principles of natural justice. The ground number 3 filed by assessee in memo of appeal is allowed for statistical purposes. We order accordingly. 7. The second addition which is agitated by assessee before us is with respect to an amount of ₹ 5,37,000/-towards cash deposits made in Axis Bank Account during the year under consideration. The said bank account with Axis Bank was not disclosed by the assessee in its return of income filed with the Revenue. The total cash deposits of ₹ 20,37,000/- were made by the assessee in the said bank account with Axis Bank during the year un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for fresh determination of the issue as to the verification of bonafide of explanation of the assessee with respect to sources of cash deposit of ₹ 5,37,000/- in Axis Bank claimed to be from business of truck plying. The assessee is directed to produce all relevant evidences of receipts , expenses etc. from the truck plying business to support and justify its stand. The AO is directed to admit all evidences filed by assessee in its support and the same be adjudicated denovo on merits in accordance with law. Needless to say that the AO shall provide proper and adequate opportunity of being heard to the assessee in accordance with principles of natural justice in accordance with law, in denovo proceedings as directed by us. This ground ..... X X X X Extracts X X X X X X X X Extracts X X X X
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