RAKESH AGARWAL,KHETRAJPUR vs. DCIT CENTRAL CIRCLE, SAMBALPUR

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ITA 270/CTK/2023Status: DisposedITAT Cuttack28 November 2023AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issues to the file of the AO for readjudication, granting the assessee an adequate opportunity to be heard and provide explanations.

What were the facts?

The assessee failed to provide an explanation for a cash deposit of Rs. 1,86,750/- during assessment proceedings. The AO made an addition, and the CIT(A) dismissed the appeal due to the lack of explanation.

What were the issues?

Whether the assessee should be granted an opportunity to explain cash deposits when no explanation was provided before the AO and CIT(A).

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI GEORGE MATHAN & SHRI GIRISH AGRAWAL

Hearing: 28/11/2023Pronounced: 28/11/2023

O R D E R Per Bench : This is an appeal filed by the assessee against the order of the ld. CIT(A)-2, Bhubaneswar, dated 15.03.2023, passed in I.T.Appeal No.Bhubaneswar-2/10105/2012-13, for the assessment year 2013-2014.

2.

It was submitted by the ld. AR that the assessee is deriving income from business. In the course of assessment, notices were issued to the assessee, wherein it was asked to explain the cash deposit of Rs.1,86,750/-. The assessee had not given the explanation and consequently the AO had made the addition. On appeal, the ld. CIT(A) had dismissed the appeal of the assessee in the absence of any explanation. It was the prayer that the issues in this appeal may be restored to the file of AO so that the assessee can provide explanation before the AO.

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