BALAKRISHNAN RAMANATHAN,GOBICHETTIPALAYAM vs. ITO, WARD-2(1), ERODE

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2011-12 arises out of the order of learned Addl. / Joint Commissioner of Income Tax (Appeals)-8, Delhi [CIT(A)] dated 25-06-2024 in the matter of an assessment framed by the Ld. AO u/s 143(3) r.w.s. 147 of the Act on 10- 10-2019. The registry has noted delay of 5 days in the appeal which stands condoned. 2. Upon perusal of assessment order, it could be seen that the assessee did not file its return of income. Since the assessee deposited cash in savings bank account, the case was reopened wherein the assessee was directed to substantiate the source of the same. The assessee admitted salary income of Rs.1.20 Lacs. The assessee stated that the cash deposits in ICICI Bank Account and other Savings Bank Account relates to HUF Account who was doing textile business and petrol bunk business in the name of B. Ramanathan (HUF). The transactions in the bank accounts were stated to be accounted for in the hands of HUF. The assessee also stated that the bank mentioned PAN of individual assessee instead of PAN of HUF. Since the requisite details were not forthcoming form the assessee, Ld. AO rejected the same and estimated income of 8% against total cash deposits and framed the assessment. The Ld. CIT(A) confirmed the same for want of sufficient documentary evidences from the assessee, in that regard. Aggrieved, the assessee is in further appeal before us.