TMI Blog2022 (2) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 24/10/2019. The material called for, as apparent from the annexure to the said notice, is the copy of the assessee's HDFC Bank account (for the relevant year) which, in view of the fact that the AO is in the know of the cash deposited by the assessee in his said account (not contended as joint with his father) on 03/3/2012, and which fact is not disputed, rather appears to be available with him. Nothing, thus, turns thereon; there being in fact no explanation by the assessee in its respect either before the AO or before the first appellate authority. No prejudice stands shown caused to the assessee thereby. The argument, therefore, fails. It is a open set-aside, and nothing stated or observed herein, even as it may raise perti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the delay, the hearing in the matter was proceeded with. 3. The only issue raised in appeal is qua an addition for ₹ 12,01,500 in assessment on account of unexplained cash deposits in the assessee's bank accounts, being as under: a. ₹ 4,50,000 in SBI, Gwalior, on 29/6/2011 b. ₹ 6,80,000 in SBI, Gwalior, on 11/10/2011 c. ₹ 71,500 in HDFC Bank, Gwalior, on 03/3/2012 The assessee explained the same as the cash received by his father, Sh. Prakash Shrivastava, a joint account holder of the SBI account, who received the same from his brother (name not specified) against sale of ancestral land at their native village. Both the Assessing Officer (AO) and the ld. CIT(A) did not accept the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the file of the AO, which proposition was fairly not contested and, rather, agreed to by Sh. Halder, the ld. Sr. DR. 5. I have heard the parties and perused the material on record. 5.1 Without doubt, the material furnished by the assessee in support of his case having not been examined and verified by the assessing authority; in fact, even by the first appellate authority, the matter would necessarily require being restored back for the purpose. This is, however, extremely unfortunate as the assessee could have easily been asked to provide legible copies thereof to facilitate examination. This would have easily prevented litigation or, in any case, prolonging it. The folly was repeated at the first appellate stage, and this time t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnish all the relevant material, i.e., that he wishes to rely upon - which itself signifies, even as observed during hearing, legible copy thereof, besides fully cooperate in the ensuing proceedings. The AO shall, on his part, make the assessment in accordance with and following the due process of law, within the time provided thereby, and by issuing definite findings of fact - separately for each deposit; the matter being principally factual. The documents furnished lead to the query as to why would the other co-owners give their entire cash to one of them to be deposited in a bank account at a distant place - to which (account) they had neither any access nor claim to the sums deposited therein. Why should they, rather, hold the cash for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion by the assessee in its respect either before the AO or before the first appellate authority. No prejudice stands shown caused to the assessee thereby. The argument, therefore, fails. Before parting with this order, I may clarify that it is a open set-aside, and nothing stated or observed herein, even as it may raise pertinent issue/s to be addressed, may be construed as an expression of any opinion by the Tribunal. Also, the assessee is at liberty to produce and rely upon any material in support of his explanation/s or otherwise to advance his case before the assessing authority, irrespective of whether it was produced during the first round or not. 5.3. I decide accordingly. 6. In the result, the assessee's appeal is allow ..... X X X X Extracts X X X X X X X X Extracts X X X X
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