Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 506 - AT - Income TaxUnexplained cash deposits - CIT(A) deleted the addition on the basis of additional evidence u/Rule 46A of the Rules - Held that:- The perusal of tabulated details filed by the assessee reflected that many of amounts have been received from his father and other amounts which are deposited in cash in Bank of Maharashtra are on account of investment to be made in Shree Om Sainath Car on Rent Pvt. Ltd. Once the assessee has given an explanation that he was receiving these amounts and further made investments, then the Assessing Officer should have made enquiries from the other parties to verify the claim of the assessee. However, we find that the explanation of the assessee has not been considered by the Assessing Officer in proper perspective nor proper opportunity was given to the assessee to furnish complete evidences. Further claim of assessee to have received the amounts from his father have also been not accepted, inspite of various evidences filed. In the above said facts and circumstances of the case, where the assessee before us has furnished several documents / evidences, we are of the view that the principles of natural justice demand that an opportunity of hearing should be allowed to the assessee. Accordingly, we set-aside the matter to the file of Assessing Officer to decide the issue de novo after considering the evidences available with the assessee and after allowing reasonable opportunity of hearing to the assessee. - Decided in favour of assessee and the Revenue for statistical purposes.
|