TMI Blog2022 (6) TMI 1275X X X X Extracts X X X X X X X X Extracts X X X X ..... the interest of substantial justice, we restore this matter back to the file of the Ld. CIT(A) for deciding afresh in accordance with law after providing adequate opportunity of being heard to both the assessee as well as the Assessing Officer. The grounds raised by the assessee are accordingly, allowed for statistical purposes. - ITA No. 257/MUM/2022 - - - Dated:- 28-6-2022 - Shri Kuldip Singh (Judicial Member) And Shri Om Prakash Kant (Accountant Member) For the Assessee : Mr. G.C. Lalka, AR For the Revenue : Mr. Kiran P. Unavekar, DR ORDER PER OM PRAKASH KANT, AM This appeal has been preferred by the assessee against the order dated 07.11.2021 passed by the National Faceless Appeal Centre (NFAC) (hereinafte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer observed from the data analysis carried by the Income-Tax Department under exercise of operation clean money that assessee has deposited cash of more than ₹33,33,677/- in his bank account during the demonetization period (9th November to 30 December, 2016) but had not filed Income-Tax Return for the assessment year under consideration and therefore, the Assessing Officer issued notice u/s 142(1) directing the assessee to file the return of income. As no return of income was filed the Assessing Officer completed the assessment as best judgment assessment on 20.12.2019 in terms of section 144 of the Income Tax Act, 1961 (in short the Act ) and made addition for said cash deposits of ₹33,33,677/- and interest credited by b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (SC). This has also been reiterated by the Hon'ble Supreme Court in its order in the case of NRA Iron Steel Pvt. Ltd (Arising out of SLP (Civil) No. 29855 of 2018) pronounced on March 5, 2019. This could have easily been proved to producing the details of the contributors and proving their capacity to pay, however, this was not done. This onus on the tax payer has neither been discharged at the assessment stage nor at the appellate stage. 6.2.2 As mentioned earlier, large cash deposits were made in the account of the assessee during the demonetization period and these have not been explained. In the case of Commissioner Of Income Tax, Salem vs K. Chinnathamban on 24 July, 2007, [2007] 162 Taxman 459 (SC)(20071 292 ITR 682 (SC)/( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment stage nor at the appellate stage. Thus this ground of appeal is dismissed. 6. Before us, the Ld. counsel of the assessee submitted that notices were not served upon the assessee and therefore, assessee could not represent before the Ld. CIT(A). He submitted that the assessee is willing to pursue its appeal and explain the source of cash deposits, therefore, one more opportunity should be provided to the assessee for appearing before the Ld. CIT(A) and explain its stand. 7. We have heard the rival submissions of the parties on the issue-in-dispute and perused the relevant material on record. We find that before both the Assessing Officer as well as before the Ld. CIT(A), the explanation of the assessee in respect of cash d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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