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TMI Blog2023 (3) TMI 1101X X X X Extracts X X X X X X X X Extracts X X X X ..... sale relied by the assessee and further we direct the CIT(A) to consider the same and pass appropriate order in accordance with law. Appeal filed by the assessee is partly allowed for statistical purpose. - I.T.A No. 887/Del/2018 - - - Dated:- 15-3-2023 - DR. BRR KUMAR , ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US , JUDICIAL MEMBER For the Assessee : Shri Raj Kumar , CA For the Revenue : Shri Rajesh Kumar Dhanesta , Sr. DR ORDER PER YOGESH KUMAR US , J. M. This appeal is filed by the assessee against the order dated 26.10.2017 of the ld. Commissioner of Income Tax (Appeals), [(hereinafter referred to CIT (Appeals)] Ghaziabad, for assessment year 2009-10. 2. The assessee has raised the following grounds of app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale revoked by mutual agreement of both parties and Rs.3,00,00,000/- (Rs.1,00,00,000/- in cash and Rs.2,00,00,000/- through banking channel) was returned to Sh. Iqbal Singh Sodhi which is clearly evident from bank statement. 3. That having regard to the facts and circumstances of the case, Ld. AO has erred in law and on facts that during hearing proceeding, the details of Rs.3,00,00,000/- credit through sundries was asked. In this regard we have to say that, we have approached to Punjab National Bank, G.T. Road, Ghaziabad to provide the details of credit through Sundry A/c of Rs.30,00,000/- credited on 29-07-2008.The bank denied to provide the details.(Denied letter enclosed). Although we have also approached through our personal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th entries of Rs.30,00,000/- while it is appearing in bank account but he made the addition of Rs.3,00,00,000/-. 8. That in any case and any view of the matter, action of Ld. CIT(A) in not reversing the action of Ld. AO in making the impugned addition/disallowance and framing the impugned assessment order which is contrary to law and facts, void ab initio, beyond jurisdiction, and without giving adequate opportunity of hearing, by recording incorrect facts and findings and the same is not sustainable on various legal and factual grounds. 9. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in not reversing the action of Ld. AO in charging interest u/s 234A, 234B, 234C and of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthorities. Therefore, submitted that the grounds of appeal deserve to be allowed. 6. On the other hand, the Ld. DR vehemently submitted that the order of the CIT(A) requires no interference. Even after providing the sufficient opportunities, the assessee failed to substantiate the source of cash deposits in the bank accounts with the sufficient evidence and the assessee has also failed to produce the copies of agreement of sale which was relied by the assessee. Thus, submitted that the appeal filed by the assessee is liable to be dismissed. 7. We have heard the parties, perused the material. During the assessment proceedings, the Assessing Officer received information about Rs.1,00,15,000/- deposited in the savings bank account of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee viz-a-viz details given in the sale deed and bank account of the assessee and therefore, held the assessee failed to substantiate the source of cash deposits in the bank accounts with sufficient evidence. Even during the appellate proceedings the assessee failed to produce the copy of the agreement to sale referred and relied by the assessee. 9. In our considered opinion, if an opportunity is given to the assessee to substantiate the source of cash deposits and also to produce the copy of the agreement of sale relied by the assessee and if the CIT(A) considers the same and passes the order afresh, the substantial justice would be rendered. Irgo, we partly allow the grounds of appeal for statistical purpose by remanding the matte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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