RAVIKANT SIDDHANNA GANDEWADI,SANGLI vs. NFAC, DELHI, DELHI

Assessment Year : 2013-14 Ravikant Siddhanna Vs. Income Tax Department, Gandewadi, National Faceless A/p. Saglare, Tal. Miraj, Assessment Centre, Dist.- Sangli. Delhi. PAN : AYKPG4789Q Appellant Respondent Assessee by : None Revenue by : Shri A. D. Kulkarni Date of hearing : 03.04.2025 Date of pronouncement : 26.05.2025 आदेश / ORDER

PER VINAY BHAMORE, JM:

1. On the facts and in the circumstances of the case and in law the lower authorities have erred in dismissing the appeal ex parte without giving proper opportunity of hearing and the act being in violation of principle of natural justice, it is prayed that appeal may kindly be restored back to lower authorities (A.O.) for re adjudication/reconsideration.

2. Learned CIT (A) has erred in fact and in law and in the circumstances of the case confirming addition made by A.O. of Rs.4,73,39,080/- despite the fact that the cash deposit is sale proceeds of petrol pump run by uncle of the appellant and account of the appellant is used by him for his business and all the cash deposit out of sale proceeds of the petrol pump are properly recorded in the books of account of uncle of the appellant.

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3. Facts of the case, in brief, are that the assessee is an individual and has not furnished his return of income for the period under consideration. On the basis of information available with the Department that the assessee has deposited an amount of Rs.4,73,39,080/- in his bank account and bank has also deducted TDS on interest income, however the assessee has not furnished his return of income, accordingly the proceedings u/s 147 of the IT Act were initiated after obtaining prior approval of the competent authority and notices u/s 148 and 142(1) were issued and served upon the assessee respectively. Not being satisfied with the reply of the assessee, the Assessing Officer completed the assessment u/s 147 r.w.s. 144B of the IT Act determining total income at Rs.4,76,38,450/- as against no return filed by the assessee. The above assessed income includes addition on account of cash deposit of Rs.4,73,39,080/- in bank account and interest income of Rs.2,99,370/-.

4. Since the assessee remained absent, Ld. CIT(A)/NFAC dismissed the appeal filed by the assessee. It is this order against which the assessee is in appeal before the Tribunal.

5. When the appeal was called for hearing neither anybody attended nor any application for adjournment was filed, we therefore proceed to decide the appeal after hearing Ld. DR and on the basis of material available on record.