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Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI
Before: HON’BLE SHRI MAHAVIR SINGH & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2010-11 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 31.03.2022 in the matter of an assessment framed by Ld. AO u/s 144 r.w.s. 147 of the Act on 26.12.2018. The registry has noted a delay of 31 days in the appeal, the condonation of which has been sought by Ld. AR. Considering the period of delay, we condone the delay and admit the appeal for adjudication on merits.
The sole grievance of the assessee is addition of Rs.11.05 Lacs u/s 69A. The Ld. AR pleaded for another opportunity of hearing before lower authorities which has been vehemently opposed by Ld. Sr. DR.
Upon perusal of assessment order, it could be seen that the assessee made cash deposit of Rs.11 Lacs in savings account maintained with HDFC Bank. However, the assessee did not file any return of income. Accordingly, the case was reopened and the assessee was required to explain the source of the deposits. Since the assessee failed to file any explanation, the amount of Rs.11.05 Lacs was added to the income of the assessee. The same was the situation before Ld. CIT(A) which led to dismissal of appeal. Aggrieved, the assessee is in further appeal before us. 4. Though we concur with the submissions of Ld. Sr. DR that the assessee has remained negligent before lower authorities, however, keeping in view the principle of natural justice, we set-aside the impugned order and remit the matter back to the file of Ld. AO for denovo adjudication with a direction to the assessee to substantiate its stand. 5. The appeal stand allowed for statistical purposes. Order pronounced on 21st July, 2022.