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2021 (1) TMI 70 - AT - Income TaxUnexplained cash deposits in his IDBI and SBI Account - HELD THAT:- From the facts of the case it is apparent that the assessee has not properly cooperated before the Ld. Revenue Authorities in their proceedings. Further, though the assessee had submitted certain bank statements before us, the entire transaction remains to be properly explained. Revenue Authorities have also not made any finding with respect to the bank statements produced before them. The affidavit furnished by the assessee also remains unverified. It is also apparent that the Ld. CIT(A) has made a detailed finding in his order with respect to the non-cooperation of the assessee during the appellate proceedings and non-furnishing of any cogent evidence to establish the transactions to be genuine. From the facts of the case it is further apparent that the assessee was not able to explain the source for the cash deposit before the Ld. Revenue Authorities by drawing proper accounts. Moreover, we find that the assessee was taking different stand before the Ld. AO and the Ld. CIT(A) during the course of the proceedings before them. In this situation we do not find much merit in the submission of the Ld. AR. Considering the financial position of the assessee and the nature of his business, in the interest of justice, we find it appropriate to remit the entire matter back to the file of the ld. AO for fresh consideration - Appeal of the assessee is allowed for statistical purposes.
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