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TMI Blog2022 (7) TMI 321X X X X Extracts X X X X X X X X Extracts X X X X ..... nd decide the issue as per fact and law. The assessee is also hereby directed to appear before the Assessing Officer without seeking any adjournment under any pretext failing which the Assessing Officer is at liberty to pass appropriate order as per law. I hold and direct accordingly. The grounds raised by the assessee are accordingly allowed for statistical purposes. - ITA No. 128/Hyd/2022 - - - Dated:- 29-6-2022 - SHRI RAMA KANTA PANDA , ACCOUNTANT MEMBER For the Appellant : K. Pandu Rangaiah , Adv. For the Respondents : R. S. Arvindhakshan , D. R. ORDER This appeal filed by the assessee is directed against the order dt. 29.12.2021 of the National Faceless Appeal Centre (NFAC), Delhi for the Assessment Year 2017-18. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... total income of the assessee at Rs. 26,18,786. 3.2. In appeal, the ld. CIT (Appeals) dismissed the appeal of the assessee by observing as under: 5. Decision:- 5.1 The present appeal has been filed by the appellant against order passed by the AD u/s. 144 of the Act on 30.11.2019, wherein total taxable income has been computed at Rs. 26,18,790/-. From the impugned assessment order it is noted that AO had specific information that the appellant during the demonetization period had made cash deposits to the tune of Rs. 11,57,100/- in IGIGI Bank, Aditi Crystal Branch, Nellore Bearing account No. 631005500274. Relying on the above specific information, AO issued notice u/s. 142(1) dated 09.03.2018 to the appellant to file his ITR fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aintained with ICICI Bank Bearing no. 631005500274 during the period relevant to assessment year under consideration and specifically during the demonetization period. As per impugned assessment order, AO issued notice u/s. 142(1) dated 09.03.2018 to the assessee to file return for the assessment year under consideration relying on the specific information (OCM) that there are deposits to the tune of Rs. 26,18,790/- in above bank account but no ITR has been filed despite being given specific opportunity to file the ITR. Considering the non compliance of the appellant and the fact that no ITR was filed, AO had no other option but to treat the entire cash deposit and credit entries as taxable income of the assessee for the year under consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heory and the benefit of telescoping is generally accepted when there is reasonable material to show that withdrawals or repayments could have been available on the date of subsequent credit or repayment, more so, in the accounts of different persons, but appellant in the present case failed to substantiate the above claim with any supporting evidence. More so, the entire appellant proceedings have remained uncomplied with. Hence, the above claimed is devoid of any merit and is rejected. 4. Aggrieved with such order of CIT (Appeals), the assessee is in appeal before the Tribunal. 5. The learned counsel for the assessee, at the outset, submitted that due to non-receipt of notice, the assessee could not appear before the Assessing Off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer there was non-representation before the Assessing Officer for which he has passed the ex parte order. Similarly, due to lack of proper opportunity granted by the NFAC, the assessee could not file the requisite details before the NFAC for which the NFAC also passed the ex parte order sustaining the addition made by the Assessing Officer. Considering the totality of the facts of the case and in the interest of justice, I deem it proper to restore the issue to the file of Assessing Officer with a direction to grant one final opportunity to the assessee to substantiate his case and decide the issue as per fact and law. The assessee is also hereby directed to appear before the Assessing Officer without seeking any adjournment under any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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