JOLLY GUPTA,DELHI vs. ITO WARD - 57(3), NEW DELHI

This appeal is filed by the assessee against the order of the Ld. Commissioner of Income Tax [Appeals-19], New Delhi dated 12.12.2018 pertaining to assessment year 2015-16 on the following grounds:- “

1. That the Ld. CIT(A) erred on facts and on law by confirming addition of cash deposits of RS. 13,45,000/- as unexplained cash credit u/s. 68 of the Income Tax Act, 1961.

2. That the appellant craves leave to add to, alter, amend or vary all or any of the aforesaid ground(s) of appeal.

2. Facts narrated by the revenue authorities are not disputed by both the parties, hence, the same are not repeated here for the sake of convenience.

3. At the time of hearing ld. Counsel for the assessee stated that Ld. CIT(A) has decided the issues in dispute against the assessee without giving sufficient opportunity for substantiating the claim of the assessee. He further stated that assessee is having all the documentary evidences for substantiating the claim in dispute and requested that the issues in dispute may be set aside to the Ld. CIT(A) with the directions to decide the same afresh, after giving adequate opportunity of being heard to the assessee. He filed a Paper Book containing pages 1-32 in which he has attached the various documentary evidences supporting the claim of the assessee.

4. On the contrary, Ld. DR relied upon the orders of the authorities below, but has not raised any serious objection on the request of the Ld. Counsel for the assessee.

5. I have heard both the parties and perused the records alongwith the documentary evidences filed by the assessee in the shape of Paper Book pages 1-32 in which the assessee has attached the copy of written submissions before CIT(A) dated 09.10.2018; copy of written submissions before CIT(A) dated 22.10.2018 alongwith (i) copy of bank statement of Bhisham Gupta; ii) copy of ITR, computation of income; copy of notice u/s. 142(1) dated 19.1.2017; reply to notice u/s. 142(1) dated 8/2/2017 alongwith Karnataka Bank statement, Canara Bank statement, ITR computation of income; copy of notice u/s. 142(1) dated 26.4.2017; replies of notice u/s. 142(1) 7.7.2017, 26.12.2017 alongith confirmation of gift of Sh. Bhisman Kumar Gupta and bank statement of Sri Bhisham Kumar Gupta. Ld. Counsel for the assessee also certified that the above cited papers were all filed before the lower authorities. After perusing the impugned order and the documentary evidences filed by the assessee in the shape of paper book, I am of the considered view that the impugned order