GAGANDEEP SINGH LUTHRA,MOHALI, PUNJAB vs. ITO, WARD 6(4), CHANDIGARH, MOHALI

The Ld. AR, at the outset, stated that the alleged cash deposit are duly recorded in the regular Books of Accounts and therefore, the Ld AO has wrongly added the same u/s 69A of the Income Tax Act 1961. He further stated that the assessee has remained unrepresented before the lower authorities. Accordingly, a prayer has been made to remand back the matter to Ld. CIT(A) with a plea that the assessee is in a position to substantiate its case on merits. The same has been opposed by Ld. Sr. DR. 3. Keeping in mind the principle of natural justice, we accept the prayer of Ld. AR and deem it fit to grant another opportunity of hearing to the assessee to substantiate its case before Ld. CIT(A). Accordingly, the impugned order is set aside and the appeal is restored back to the file of CIT (A) for de novo adjudication with a direction to the assessee to plead and prove its cases forthwith. 4. In the result, appeal filed by the Assessee is allowed for statistical purpose. Order pronounced on 13th August, 2029