ZAKIR KHAN SHER KHAN,PUNE vs. INCOME TAX OFFICER WARD 1(3), JALGAON

None appeared for and / or on behalf of the assessee when the matter was called for hearing on 28.07.2026. No application seeking adjournment of the case has been filed. A perusal of the order sheet entries shows that on previous occasions also, no one was appearing. Under these circumstances, we deem it proper to decide this appeal on the basis of material available on record and after hearing the Ld. DR.

Facts of the case, in brief, are that the assessee is an individual and engaged in the business of financial service activities. He has not filed his return of income for the impugned assessment year. As per information received through portal under RMS Non-Filers category, the Ld. Assessing Officer (“AO") noted there were substantial cash deposits, cash withdrawals and commission income during FY 2019-20 in the bank account of the assessee with the Central Bank of India. Accordingly, statutory notices were issued under sections 148, 142(1) and 144 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) followed by the final show cause notice / letter, but no compliance was made by the assessee except for one adjournment request. The bank statements were obtained directly from the concerned bank through notice u/s 133(6). These revealed total credits in the assessee's bank account of Rs.1,26,31,558/- (including cash deposits of Rs.12,46,050), interest income of Rs.3,159/- and commission / brokerage income of Rs.14,620/-. Since the assessee did not explain the source of the credits of Rs.1,26,31,558/-, the AO treated the same as unexplained money u/s 69A taxable under section 115BBE, interest and commission income totaling to Rs.17,779/- were added under "Income from Other Sources” u/s 56 of the Act. The assessment was completed ex-parte on 28.01.2025 u/s 144 r.w.s. 147 & 144B determining the total income of Rs.1,26,49,337/- after making the above addition(s) of Rs.1,26,31,558/- u/s 69A and Rs.17,779/- u/s 56 of the Act.

The Ld. CIT(A) / NFAC dismissed the appeal of the assessee by observing as under:

Aggrieved with such order of the Ld. CIT(A) / NFAC, the assessee is in appeal before the Tribunal.

Although a number of grounds have been raised by the assessee, however, all these relate to the addition of Rs.1,26,49,337/- made by the Ld. AO as unexplained cash deposits u/s 69A of the Act.

We have heard the Ld. DR and perused the record. We find the Ld. AO in the instant case completed the assessment u/s 147 r.w.s. 144 r.w.s. 144B of the Act at assessed income of Rs.1,26,49,337/- of the assessee by making addition of Rs.1,26,49,337/- u/s 69A of the Act on account of cash deposits made in the bank account maintained with the Central Bank of India, the source of which remained unexplained by the assessee by filing the requisite documentary evidence. On appeal, the Ld. CIT(A) / NFAC has dismissed the assessee’s appeal for the reasons

In the result, the appeal filed by the assessee is dismissed.