PANKAJ ASHOK AHUJA,NAGPUR vs. INCOME TAX OFFICER WARD 4(4) NAGPUR, NAGPUR

It appears from the impugned order passed by the learned CIT(A) that the assessee, though pointed out that the Assessing Officer arbitrarily added the amount of ` 29,40,497, as unexplained money under section 69A of the Act, however, the assessee has not been able to produce copy of bank account/bank statement as well as cash book for reconciliation of figures and to prove the source of cash deposit. Under these circumstances, the assessee's submissions are not acceptable, as the assessee failed to furnish relevant documents before the authorities below as well as before this Court. However, bank account/bank statement and cash book are vital documents which are required for proper adjudication of the issued involved and, therefore, in the considered view that this Court, it would be appropriate to afford one last and final opportunity to the assessee by remanding the entire matter to the file of the learned CIT(A) for decision afresh. Accordingly, this appeal is restored to the file of the learned CIT(A). The assessee is also directed to file the relevant submissions and produce copy of bank account/bank statement as well as cash book for reconciliation of figures and to prove the source of cash deposit. In case of failure to file such documents, the assessee shall not be entitled to any leniency and the learned CIT(A) would decide the issues raised by the assessee in accordance with law.

In the result, appeal of the assessee is allowed for statistical purposes in terms, as indicated above.