JYOTI SANTOSH PARAKH,SANGAMNER vs. ITO, WARD 2, AHMEDNAGAR, AHMEDNAGAR

Facts of the case, in brief, are that the case of the assessee was selected in AIMS date for cash deposits in bank account during the demonetization period. The Assessing Officer from the records available, noted that during the demonetization period i.e. 09.11.2016 to 30.12.2016, the assessee had deposited cash of Rs.18,70,000/- into the bank account No.SBIN0000140000 with the Nasik Merchant Co-operative Bank Limited, Sangamner Branch, Ahmednagar. The assessee has not filed her return of income and has not offered the income from its activities and even not paid taxes due on. The Assessing Officer thereafter issued notice u/s 142(1) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) to the assessee calling for the return of income for the year under consideration and the said notice was duly served on the assessee. In response to the said notice, the assessee neither filed her return of income nor filed any submission. The Assessing Officer issued a notice to the bank u/s 133(6) of the Act in order to verify the bank entries and the said bank has provided the details. Despite number of opportunities granted to the assessee, the assessee has not responded to the notices of the Assessing Officer. Therefore, the Assessing Officer completed the assessment proceedings u/s 144 of the Act by making addition of Rs.20,70,000/- on the ground that during the demonetization period the assessee has deposited cash of Rs.20,70,000/- and failed to submit the satisfactory explanation regarding

In appeal, the Ld. CIT(A) / NFAC dismissed the appeal of the assessee without passing a speaking order.

Aggrieved with such order of Ld. CIT(A) / NFAC, the assessee is in appeal before the Tribunal.

The Ld. Counsel for the assessee at the outset filed certain additional evidences before the Tribunal and requested to restore the issue to the file of the Ld. CIT(A) / NFAC.

The Ld. DR on the other hand has not objected for restoring the issue to the file of the Ld. CIT(A) / NFAC.

I have heard the rival arguments made by both the sides, perused the orders of the Assessing Officer and Ld. CIT(A) / NFAC. After considering the additional evidences filed by the assessee and considering the totality of the facts of the case and in the interest of justice, I deem it proper to restore the issue to the file of the Ld. CIT(A) / NFAC with a direction to grant an opportunity to the assessee to substantiate her case and decide the issue as per fact and law after calling for a 4 remand report from the Assessing Officer and pass a speaking order as per provisions of section 250(6) of the Act. I hold and direct accordingly. The grounds raised by the assessee are accordingly allowed for statistical purposes.

In the result, the appeal filed by the assessee is allowed for statistical purposes.

अपीलार्थी / The Appellant; 2. प्रत्यर्थी / The Respondent

4. The concerned Pr.CIT, Pune DR, ITAT, ‘SMC’ Bench, Pune 5. गार्ड फाईल / Guard file.