RAHUL KUMAR,GHAZIABAD vs. INCOME TAX OFFICER, BULANDSHAHR

Heard both the parties and perused the records. 3. Upon careful consideration, I find that AO has passed the exparte order in this case and in appeal Ld. CIT(A) has dismissed the appeal of the assessee by observing that the deposits constituted sale proceeds out of sale of land in cash by his father is not tenable as being cash transactions, no material evidence has been adduced to prove that indeed the cash deposits constituted sale proceeds of land. Therefore, the assessee failed to offer any creditable explanation as to why he failed to comply with the multiple notices issued by the AO. Thus, he confirmed the AO’s action. In view of the factual matrix and in the interest of justice, I remit back the issues in dispute to the file of the ld. CIT(A) with the directions to decide the same afresh by passing a speaking order, after verifying the genuineness of the transactions. Assessee is also directed to fully cooperate with the Ld. CIT(A) during the proceedings and discharge his onus of explaining and substantiating the genuineness of the transactions by providing all the relevant documents/evidences before him to enable him to pass a speaking order in accordance with law.

In the result, the Assessee’s appeal is allowed for statistical purposes