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2015 (10) TMI 158 - AT - Income TaxAddition u/s. 68 - Assessee has stated that he has withdrawn the cash from the bank for the purchase of land but again deposited the same due to non-utilization of the same. Assessee has also changed his stand that he has received some advance from his father-in-law and also filed confirmation alongwith PAN card. - Held that:- AO called the information alongwith documentary evidence from the assessee for substantiating the cash deposits in the bank and for purchased a motor vehicle. Assessee has furnished some information before the AO and AO issued notice u/s. 133(6) to Axis Bank asking them to submit the bank statement of all the relevant period. In response to the same, the bank has submitted the statement on account of the assessee for the period 1.4.2008 to 31.3.2009 which confirmed that cash deposit of ₹ 25,07,400/-. The assessee was confronted that the cash deposits in his bank account. We find that before the assessee has changed its stand before the Ld. CIT(A) as rightly stated by the Ld. DR. Assessee has stated that he has withdrawn the cash from the bank for the purchase of land but again deposited the same due to non-utilization of the same. Assessee has also changed his stand that he has received some advance from his father-in-law and also filed confirmation alongwith PAN card. This averment has not been made before the AO and the Ld. First Appellate Authority has wrongly deleted the addition in dispute by accepting the arguments of the assessee. We are of the view that the assessee has changed his stand before the Ld. First Appellate Authority in which the AO has not given a chance to rebut the documentary evidence filed before the Ld. CIT(A) and the addition in dispute is contrary to the principles of natural justice. In our considered opinion, the impugend orde of the Ld. CIT(A) is not sustainable in the eyes of law and therefore, we cancel the impugend order. Keeping in view the facts and circumstances of the present case and the averments made by the assessee before the AO as well as Ld. CIT(A) alongwith the documentary evidence filed by him, we are of the view that the issue in dispute requires re-examination at the level of the Assessing Officer, therefore, we set aside the issue in dispute. - Decided in favour of revenue for statistical purposes.
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