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2021 (8) TMI 1036 - ITAT HYDERABADUnexplained cash deposits - assessee has made huge cash deposits, to the tune of ₹ 86,83,000/- into his bank account with various banks and assessee was asked to explain sources - HELD THAT:- Undisputedly the assessee is an employee of Toddy Co-operative Society, Nizamabad and he has also submitted an affidavit of the President of the Society stating that the deposits are from the receipts of the society and such an affidavit also has not been doubted by the revenue. In such circumstances, we are of the opinion that the CIT(A) ought to have called for a report from the AO, who in turn, could have given an opportunity to assessee and also verified whether sales were recorded in books of accounts of the Society and assessee's contentions that deposits are made out of sales of the society. Hence, for this limited purpose of verification of the contentions of the assessee that the deposits are from the sales of Nizamabad Toddy Co-Op Society, we deem it fit and proper to remand the issue back to the file of the AO for de novo consideration in accordance with law. Assessee's appeal is treated as allowed for statistical purposes.
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