VISHNU PUROHIT,KOLKATA vs. I.T.O., WARD 61(1), KOLKATA

Brief facts of the case of the assessee is that the assessee being an individual did not file its return of income, as his income was below the taxable income. The AO based on the information of Investigation Wing, the case was reopened by issuing notice u/s Assessment Year: 2016-17 Vishnu Purohit 148 of the Act. In response to the notice u/s 148 of the Act the assessee filed return of income for AY 2016-17 declaring total income of Rs. 23,760/-. The assessee has submitted in number of reply that the cash deposited of Rs. 3,08,01,906/- is towards sales and has been duly accounted in the computation of income and since the net income of the assessee is below the taxable unit hence return has not been filed. The AO completed the assessment u/s 147 read with Section 144B of the Act by assessing total income of Rs. 3,67,55,555/- after making an addition of Rs. 3,65,18,293/- on account of cash deposit.

Aggrieved by the said order, the assessee preferred an appeal before the Ld. CIT(A) wherein the appeal of the assessee has been dismissed by observing that in respect of giving opportunity to the assessee, details have not been furnished.

The Ld. A.R instead of arguing into the merit of the case has submitted that the alleged cash deposit has been duly accounted in the computation of income and according to him it is a fit case to re-verify by the AO after giving an opportunity to the assessee to be heard. The Ld. Counsel submits that during the course of appellate proceeding the assessee could not be able to submit the document as asked by the Ld. CIT(A). His prayer is to restore the case back to the file of AO for re-verification and for afresh adjudication.