MANOJ KUMAR SHAW,HOWRAH vs. ACIT, CIR. 47, KOLKATA

Brief facts of the case of the assessee is that the assessee engaged in the business of trading and hosiery fabrics and job work of making agreement under the partnership Assessment Year: 2017-18 Manoj Kumar Shaw firm M/s Shiv Enterprise. The assessee filed his return of income for AY 2017-18 declaring total income at Rs. 12,29,290/-. The case of the assessee was selected for scrutiny as there was any issue of cash deposit during demonetization period. Notices u/s 143(2) and 142(1) were issued, the assessee uploaded some details. The AO after careful scrutiny of the bank account held that there was unexplained money u/s 69A of the Act amounting to Rs. 41,00,000/- and added the same in the total income of the assessee.

The said order has been challenged by the assessee before the Ld. CIT(A) wherein the appeal of the assessee has been dismissed on the ground that the assessee did not submit any details of customers to whom he made the sales rather assessee reiterated same stand taken before the AO.

The Ld. Counsel appeared on behalf of the assessee instead of arguing on the merit of the case has submitted that the assessee has been given an opportunity to place the documents before the AO to substantiate his claim regarding the source of income during the demonetization period. The Ld. Counsel submits that due to some unavoidable reasons, the assessee could not be filed the balance sheet, bank statement and sale bills before the AO and now the assessee wants to submit the same before the AO. He has filed documents before us and also filed an Affidavit.