HARILAL SAMJI RANGANI,PANVEL vs. INCOME TAX OFFICER WARD 5, PANVEL

We will first take up ITA No.3274/PUN/2025 relating to A.Y. 2014-15 as the lead case. Facts in brief are that the assessee is a petty contractor and engaged in the business as partner in various firms and derived remuneration, interest and share of profit therefrom. Income of Rs.2,88,802/- declared in the return of income for A.Y. 2014-15 filed on 03.11.2025. Based on the information that assessee has total credits in the bank account maintained with Abhyudaya Coop. Bank Ltd. to the tune of Rs.51,57,965/- and out of which cash deposits are Rs.5,37,000/-. Case of the assessee reopened for carrying out proceedings u/s.147 of the Act. Notice u/s.148 of the Act issued to which the assessee filed return of income on 07.01.2023 declaring total income of Rs.5,62,802/-. On due consideration of the submission of the assessee, ld. Assessing Officer concluded the assessment proceedings making addition of Rs.42,48,121/- as unexplained money under the provisions of section 69A of the Act and also invoked section 115BBE of the Act.

Aggrieved assessee preferred appeal before ld.CIT(A) who confirmed the action of the Assessing Officer. Now the assessee is in appeal before this Tribunal.

Similarly, for A.Yrs.2016-17 and 2017-18, ld. Assessing Officer has made addition of Rs.1,09,16,100/- and Rs.16,50,000/- towards unexplained money u/s.69A r.w.s.115BBE of the Act. Ld.CIT(A) affirmed the action of the Assessing Officer.

Before us, ld. Counsel for the assessee submitted that the issue in the instant three appeals relates to addition of credits available in the bank accounts and cash deposits. He submitted that ld.CIT(A) has provided only single opportunity to substantiate the credits and cash deposits which were actually by way of unsecured loans obtained by the assessee from various persons. It is also submitted that the assessee submitted all the requisite documents/evidences in order to substantiate the case with supporting details. He therefore prayed that adequate opportunity has not been provided to the assessee and urged before the Bench to restore the issues raised in the instant appeals to the file of ld.CIT(A) for afresh adjudication.

Ld. Departmental Representative though supported the orders of ld.CIT(A) but fair enough in not opposing the request made by ld.Counsel for the assessee.

After hearing both the sides and considering the factual matrix in the instant appeals, we deem it appropriate to afford one final opportunity to the assessee to substantiate its case before the lower authorities. In view thereof, without dwelling upon the merits of the case, the issues raised in the impugned assessment years are remitted to the file of ld.CIT(A)/NFAC for afresh adjudication. ld.CIT(A)/NFAC shall give reasonable opportunity to the assessee and consider all the requisite documents filed by the assessee and then decide in accordance with law. Assessee is also directed to remain vigilant and make satisfactory compliance to the notice(s) of hearing issued by ld.CIT(A)/NFAC. Assessee should refrain from taking adjournments unless otherwise required for reasonable cause. Effective grounds of appeal raised by the assessee in the instant appeals are allowed for statistical purposes.

In the result, all the three appeals filed by the assessee are allowed for statistical purposes.