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2021 (10) TMI 664 - AT - Income TaxReopening of assessment u/s 147 - payment towards the credit card bill made - withdrawal of cash from the assessee's bank account for making credit card payment - HELD THAT:- If we look at the assessment order passed by the Assessing officer, the addition has been made on account of the reason that the assessee has failed to explain the source of cash deposits/payments towards credit card bills. There is however nothing on record in terms of assessee's bank statement and credit card statement which shows that cash has been withdrawn from the assessee's bank account and thereafter, the payment has been made towards discharge of credit card liability. In absence of the same, it can be reasonably concluded that the payment has been made through banking channels towards discharge of credit card liability and there is thus clearly a mismatch between the reasons so recorded and basis of the addition so made by the Assessing officer. There is nothing on record that besides the AIR information, the AO has either these details in his possession or have sought these details by conducting further independent and direct enquiry during the course of assessment proceedings and which explains as to why the same were never shared with the assessee - in such peculiar circumstances, where the assessee is disputing making any cash payments and in absence of any tangible material brought on record by the Revenue and shared with the assessee in order to enable the latter to put forward his explanation, we do not see any justifiable basis to make the addition in the hands of the assessee and the addition so made is hereby directed to be deleted. Addition made by the AO wherein the assessee has again requested to provide the requisite information/material in possession of the AO - Besides the AIR information, the AO has neither these details in his possession nor have sought these details by conducting further enquiry during the course of assessment proceedings and hence, the same were never shared with the assessee - in absence of any tangible material brought on record by the Revenue and shared with the assessee in order to enable the latter to put forward his explanation, we do not see any justifiable basis to make the addition in the hands of the assessee and the addition so made is hereby directed to be deleted.
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