SHANKAR SUDDULA,MANCHERIAL vs. INCOME TAX OFFICER, WARD-1, MANCHERIAL
What did the Tribunal hold?
The Tribunal remanded the issue to the AO for verification of the evidence submitted by the assessee, such as Pattadar pass book and sale deed, to satisfy the AO about the sources of cash deposits.
What were the facts?
The assessee's appeal was decided ex-parte due to non-appearance. The assessee's counsel submitted that the assessee had relevant material and requested an opportunity to satisfy the AO regarding cash credits.
What were the issues?
Whether the AO should be directed to verify the evidence submitted by the assessee regarding cash credits in the bank account, especially when the assessment was made ex-parte.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, HYDERABAD ‘SMC-B’ BENCH : Hyderabad
Before: Smt. P. Madhavi Devi
Date of Hearing : 07/12/2020 Date of Pronouncement : 11/12/2020 O R D E R This is assessee’s appeal against the order of CIT(A)-12, Hyderabad dated 15.02.2019 relating to A.Y. 2014-15. This appeal was taken up for hearing through Video Conference on 07.12.2020 and both the parties were heard.
On hearing both the parties and on going through the assessment order as well as the order of CIT(A), I find that the assessment as well as the appellate proceedings are decided ex-parte the assessee for non-appearance of the assessee. Ld.Counsel for assessee submitted that the assessee has all relevant material before him and if given an opportunity, the assessee will be able to satisfy the AO about the sources of cash credits made into bank account. In support of his contentions, he placed before us copies of Pattadar pass book, sale deed for sale of agricultural land and copies of surrender of Life Insurance Policy from all of which cash deposits were made. ./2019 Sh. Shankar Suddula A.Y. 2014-15 Taking the same into consideration, I deem it fit and proper to remand the issue to the file of A.O. with a direction to verify the said evidences and if he finds the evidences to be satisfactory, then no addition u/s 68 of the Act shall be made. This remand is only for the limited purpose of verification of evidence filed by the assessee.
In the result, the appeal of the assessee is treated as allowed for statistical purposes.
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