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2021 (2) TMI 413 - AT - Income TaxUnexplained deposits in bank account - cash flow submitted by the assessee did not explain the bank deposits of the assessee in Punjab National Bank - HELD THAT:- As per the chart given the deposits remaining unexplained by the assessee are also having cheque deposit entries. Before us, the Ld. AR has not submitted any break-up or details received by the assessee. AR could not co-relate the bank deposits with the cash deposits. CIT (A) has also referred the remand report of the Assessing Officer and has pointed out that the assessee was specifically required to explain the amount of ₹ 14,50,000/- deposited in the bank account but the assessee did not furnish any corroborative evidences regarding these deposits. CIT (A) has also stated that the rejoinder of the assessee was vague and did not throw any light on the issue. The assessee could not explain the source of deposits by co-relating the same to the advances received on various dates. All the same, looking into the facts of the case and in view of the interest of substantial justice, we deem it fit to restore this appeal to the file of the Ld. CIT (A) with a direction to the assessee to substantiate the impugned amount with documentary evidences before the Ld. CIT (A). The Ld. CIT (A) is directed to examine the issue afresh based on the evidences being furnished by the assessee to substantiate his claim. Appeal of the assessee stands allowed for statistical purposes.
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