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2020 (10) TMI 562 - AT - Income TaxAddition u/s 69 as undisclosed income - AO treated the cash deposits as undisclosed turnover and estimated the profit at 8% u/s. 44AD - HELD THAT:- AO has stated that he issued notice u/s.142(1) of the Act on 11.4.2016 but there is no mention therein that it was served on the assessee and other several notices were also served. In absence of specific mention regarding the service of such notices, we safely presume that the assessee was not allowed due opportunity of hearing for explaining and substantiating his stand before the AO. Definitely, we are in complete agreement with the contention of D.R. that the burden to prove the source and credibility of deposits and statement of the assessee before the Investigation Wing was on the assessee but opportunity to discharge this burden has to be given to the assessee by the AO. Assessee should be given an opportunity to discharge the burden lay on his shoulder that the impugned account belongs to Shri Pramod Kumar Sundara, which has not been given by the AO. Therefore, ends of justice would meet if the assessee is provided due opportunity of explaining his stand and explanation given before Investigation Wing and to substantiate its claim that the account belongs to Shri Sundara alongwith supporting evidence. Hence, this sole issue is restored to the file of the AO for verification, examination and adjudication - Decided in favour of assessee for statistical purposes.
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