9911796707
TMI Blog2023 (12) TMI 1314X X X X Extracts X X X X X X X X Extracts X X X X ..... roviding sufficient and reasonable opportunity of being heard, violating the principle of natural justice and is thus, liable to be quashed. 3. The ld. CIT(A) has erred in upholding the additions made in the assessment order without considering the submissions made by the appellant. The CIT(A) never called for any documents in any of the notices issued by him. However, in the appellate order, the CIT(A) has stated that the appellant has not submitted cash book, bank statements, sales details etc. These details were never called for. 4. The ld. CIT(A) ought to have passed speaking order rejecting submissions made by the appellant. The ld. CIT(A) erred in not discussing the submissions made by the appellant during the appellant proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d other grounds to be urged during the hearing of the appeal, the Appellant prays that the appeal be allowed in the grant of a refund. 2. Facts of the issue are that assessee has deposited a sum of Rs.25,61,761/- into his bank account with Karnataka Bank and Dena Bank (BOB) by using demonetized currency notes of Rs.500/- & Rs.1000/- during demonetization period from 11.11.2016 to 26.12.2016. According to the ld. AO, the assessee has not explained the nature and source of above deposit to assessee's bank account. Same is treated as unexplained money u/s 69 r.w.s. 1156BBE of the Income-tax Act,1961 ['the Act' for short]. Against this assessee is in appeal before us. 2.1 Before the lower authorities, assessee has furnished the month ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21/02/2017 by instruction number 03/2017. The 2nd instruction was issued on 03/03/2017 instruction number 4/2017. The 3rd instruction was in the form of a circular dated 15/11/2017 in F.No. 225/363/2017-ITA.II and the last one dated 09/08/2019 in F.no.225/145/2019-ITA.II. These instructions gives a hint regarding what kind of investigation, enquiry, evidences that the assessing officer is required to take into consideration for the purpose of assessing such cases. 8. In one of such instructions dated 09/08/2019 speaks about the comparative analysis of cash deposits, cash sales, month wise cash sales and cash deposits. It also provides that whether in such cases the books of accounts have been rejected or not where substantial evidences ..... X X X X Extracts X X X X X X X X Extracts X X X X
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