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TMI Blog2024 (6) TMI 926X X X X Extracts X X X X X X X X Extracts X X X X ..... d Indusind Bank Ltd ., and other various entities, and filed the return for the assessment year 2017-18 on 31/08/2017 declaring income at Rs. 4,37,960/-. Learned Assessing Officer recorded that there were deposits in the bank account of the assessee to the tune of Rs. 1,58,22,134/- during the year and Rs. 6,51,500/- during the demonetization period, out of which, a sum of Rs. 4.65 lakhs were in specified bank notes on thirteen different dates. Learned Assessing Officer issued notice to the assessee, calling for explanation as to why the deposit in specified bank notes to the tune of Rs. 4.65 lakhs shall not be treated as 'un-explained money' and also why not the income be estimated at 8% on the aggregate credits in the bank account. Having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermined the income from business at Rs. 12,39,331/- and also Rs. 31,17,377/- being the difference between the bank deposits and the transfers made to M.G. Brothers Motors Auto Agencies Pvt Ltd and Sriram City Union Finance Ltd., and the sum representing the sale of spare parts. Grievance of the assessee on this aspect is that without calling for the explanation of the assessee, this Rs. 31,17,377/- is added. 5. He further submitted that the learned CIT(A) also failed to notice this discrepancy in the assessment order while deciding the issue. Learned AR submitted that the notices were sent by the learned CIT(A) through e-mail and because of the newly introduced procedures and not being accustomed to the same, such notices through e-mail, m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ram City Union Finance Ltd., and the sum representing the sale of spare parts. I find some force in the grievance of the assessee that without giving an opportunity to him, this addition is made. 8. I also find that there is nothing suspicious in the submission of the assessee that having not been accustomed to the new procedures, the assessee missed the notices sent through e-mail and thereby could not participate in the proceedings. In these facts and circumstances, I am of the considered opinion that granting an opportunity would meet the ends of justice to put forth his case before the learned Assessing Officer on all the issues under enquiry. 9. In these circumstances of the case, I set aside the impugned order and restore the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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