G. BALA MADDAIAH, KURNOOL,HYDERABAD vs. ITO, WARD-1, KURNOOL, KURNOOL

At the time of hearing, the learned Counsel for the assessee submitted that the addition is towards unexplained cash credits and the assessee could not furnish the relevant details before the AO or the CIT (A). He has submitted a petition under Rule 21 of the ITAT Rules for filing of the additional evidence which includes Bank Statement, Cash-flow statements etc., to explain the unexplained cash deposits. He therefore, prayed for admission of the same and to consider the same for decision on merits.

The learned DR was also heard.

Since the additional evidence is necessary to adjudicate the appeal on merits, I deem it fit and proper to admit the same and remand the issue to the file of the AO for verification and adjudication of appeal in accordance with law. Needless to mention that the assessee shall be given a fair opportunity of being heard.

In the result, appeal is allowed for statistical purposes. Order pronounced in the Open Court on 13th March, 2019.