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TMI Blog2022 (5) TMI 219X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s. 250 on 26.07.2021 for A.Y. 2012-13 by NFAC, Delhi upholding the addition of Rs. 16,40, 500/- made by AO as unexplained cash deposits u/s. 68 in bank account no. 0347010243 17 with 1CIC1 Bank, Usmanpura Branch is wholly illegal, unlawful and against the principles of natural justice. 2.1 The Ld. NFAC has grievously erred in law and or on facts in holding that the appellant had failed to make submission in spite of notices issued on 21.01.2021, 31.05.2021 and 06.07.2021. The NFAC has failed to appreciate that there was a sufficient cause for failure to comply with the aforesaid notices. 2.2 The Ld. NFAC has grievously erred in law and on facts in not allowing sufficient opportunity before passing the impugned order and confirming th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .1 Without prejudice to above and in alternative and assuming without admitting, the impugned addition is excessive and the same should have been restricted to the peak amount in view of the rotation of cash deposit and withdrawals. It is, therefore, prayed that the addition of Rs. 16,40, 500/-upheld by the NFAC may kindly be deleted." 3. The facts of this case are that the assessee is an individual who was earlier working as a staff member in the office of Mr. Bharat G. Shah from 1982 to 1993. He is not assessed to tax since his income is below the taxable limit. The Assessing Officer was in possession of information that the assessee has deposited cash of Rs. 16,40,500/- in his saving bank account held with ICICI Bank during the releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and kept on records. Now, all the circumstances verified and also all documents and data made available on record an amount of Rs.16,40,500/- is considered as unexplained cash deposit u/s.68 of the Act and added to the total income of the assessee." 4. In appeal before ld. CIT(A), he dismissed the assessee's appeal and confirmed the order of ld. Assessing Officer by observing as under:- "2 As mentioned above the appellant did not file any written submission during the appeal proceedings. In the grounds of appeal the appellant has mentioned that the AO has made this addition without making any independent enquiry. However, in the Assessment Order the AO has clearly mentioned that he has obtained information from ICICI Bank Usmanpura Br ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt was being operated by assessee's former employer by misusing assessee's PAN Number. The Ld. Counsel for the assessee further drew our attention to page 17 of paper book and pointed out that the assessee had written a letter dated 2nd March, 2020 to Assessing Officer requesting him to furnish reply of Mr. Viral Oza, Deputy Manager of ICICI Bank, on the basis of which high pitched assessment was framed against the assessee. Ld. Counsel for the assessee submitted that the assessee was never provided copy of reply of ICICI Deputy Manager, Mr. Viral Oza and therefore no opportunity was provided to the assessee to rebut the reply of Deputy Manager, ICICI Bank, on the basis of which assessment was framed. In response, the ld. D.R. relied upon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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