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Income Tax Appellate Tribunal, “B’’ BENCH : BANGALORE
Before: SHRI B.R BASKARAN & SMT. BEENA PILLAI
O R D E R
Per B.R Baskaran, Accountant Member
The appeal filed by the assessee is directed against the order dated 27/2/2018 passed by ld CIT(A)-6, Bangalore and it relates to asst. year 2014-15.
The assessee is aggrieved by the decision of ld CIT(A) in confirming the addition of Rs.57.11 lakhs made by the AO.
We heard the parties and perused the record. The assessee is an individual and she filed return of income declaring a total income of Rs.3.01 lakhs. The AO received information that the assessee has made huge deposits in a cooperative bank. Accordingly he selected the return filed by the assessee for scrutiny. Since the assessee did not respond to the notices issued by him and did not offer explanations, the AO added aggregate amount of deposits of Rs.57.11 lakhs to the total income of the assessee. Before the ld CIT(A) the assessee submitted that she is maintaining a bank account with SVC Cooperative Bank Ltd., wherein she did not make deposits to the tune of Rs.57.11 lakhs as claimed by the AO. She submitted that the assessee having fixed deposits to the tune of Rs.9.75 lakhs only. She also furnished copy of bank account maintained with SVC Cooperative Bank Ltd. The ld CIT(A) took the view that the assessee should have explained as to whom the deposits belonged to. Hence, in the absence of explanations, the ld CIT(A) confirmed the order passed by ld CIT(A).
The ld AR invited our attention to copy of bank account furnished in page 4 of the paper book and submitted that the assessee has made deposits of smaller amounts on various dates in SVC Cooperative bank. The aggregate amounts does not result in a figure of Rs.57.11 lakhs mentioned by the AO. He submitted that the assessee does not maintain any other account and hence she is not aware about the deposits of Rs.57.11 lakhs mentioned by the AO.
On the contrary, the ld DR submitted that the assessee hass submitted a copy of bank account maintained with SVC cooperative bank Ltd. From the asst. order, it is not clear as to whether the AO is referring to the very same bank account furnished by the assessee or some other bank account. Accordingly he submitted that the matter may be restored to the file of AO for examining the issue afresh.
6. Having heard the rival contentions, we are of the view that this issue needs to be restored to the file of the AO, as the assessee claims to be not aware of deposits of Rs.56.11 lakhs mentioned by the AO and further the bank account furnished by assessee does not show such kind of deposits. Accordingly we set aside the order passed by the CIT(A) on this issue and restore the same to the file of the AO for examining it afresh. The AO is directed to furnish the details of Rs.56.11 lakhs mentioned in the asst. order to the assessee so that assessee can offer her explanations. After affording adequate opportunity of being heard to the assessee, the AO may take appropriate decision in accordance with law.
In the result, the appeal filed by the assessee is allowed for statistical purposes.
Order pronounced in the Open Court on 9th July, 2019.