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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI
Before: HON’BLE SHRI MAHAVIR SINGH & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 30-05-2022 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s.143(3) of the Act on 27-12-2019. The sole grievance of the assessee is confirmation of addition of Rs.135.30 Lacs, being cash deposited during demonetized period. The Ld. AR, at the outset, drawing attention to the orders of lower authorities, pleaded - 2 - for another opportunity of hearing which has been opposed by Ld. Sr. DR.
The assessee has been saddled with impugned additions since the assessee could not furnish any documents to prove the source of cash deposit during demonetized period. Accordingly, the same was added to the income of the assessee. Though the assessee preferred further appeal, however, it remained non-compliant during appellate proceedings which led to confirmation of assessment order. Aggrieved, the assessee is in further appeal before us.
After careful consideration of impugned order, we concur with the submissions of Ld. Sr. DR that the assessee has remained non- compliant. However, keeping in mind the principle of natural justice, we deem it fit to grant another opportunity to the assessee to substantiate its case. Accordingly, the impugned order is set-aside and the appeal is restored back to the file of Ld. CIT(A) for de novo adjudication with a direction to the assessee to substantiate its case. The assessee would be provided with reasonable opportunity of hearing. In the event of failure on the part of the assessee to make any submissions, Ld. CIT(A) shall proceed to adjudicate the issue on the basis of material on record.
The appeal stand allowed for statistical purposes. Order pronounced on 28th February, 2023.