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TMI Blog2023 (9) TMI 793X X X X Extracts X X X X X X X X Extracts X X X X ..... e findings examining the Grounds of Appeal and Facts of the Case. 3. The CIT (A) decision is (The appellant prays that reply was given on 21.11.2021, which requested to keep the penalty proceedings pending as required u/s 275 (1) (a). The appellant maintains that: "AO has not given proper opportunity to prove the reasons hence appellant is deprived of proper opportunity as required u/s 274 (1). As per the national faceless scheme appellant should have been given proposed penalty order which AO has failed to provide hence, appellant is deprived of opportunity of rebutting the penalty". I find no merit in the stand taken by the appellant. The mother order being in appeal before the ITAT does not in any way prevent the AO from imposin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee failed to establish reasons for non-compliance of notice issued u/s 143(1) of the Act. It was the case of the assessee that AO has never given opportunity at the time of assessment and also while levying the penalty AO has not established any mens rea. 3. We have heard the rival submissions and perused the materials available on record. None appeared for the assessee. We proceed to adjudicate the appeal after hearing the ld. D.R. In this case, assessment order u/s 144 of the Act dated 23.11.2019 was passed with addition of Rs. 11,29,000/- as cash deposit into bank account of assessee. A penalty show cause notice u/s 272A(1)(d) of the Act dated 23.11.2019 was issued to the assessee during the course of assessment proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about the nature and source of acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered by him is not, in the opinion of the 4 Assessing] Officer, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee for such financial year. In the circumstances it is proposed to treat the amount of Rs. 11,29,000/- as unexplained cash u/s 69A and taxed u/s 115BBE at t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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