IFTAKAR AHMED,KOLKATA vs. ITO,WD NO.53(3), KOLKATA, KOLKATA

Per Shri A.T.Varkey, JM

2 Aftakar Ahmed, AY- 2007-08 4. We have heard rival submissions and gone through the facts and circumstances of the case. At the outset itself, the ld. AR of the assessee brought to our notice that the assessee for reasons beyond his control could not produce the cash book before the lower authorities which is placed before us at Page Nos.15 to 17 (Paper Book) which, according to Ld. AR, will clearly show the day-wise cash flow statement and thus the assessee will be able to explain the source of the bank deposit. According to the ld. AR since this is a fresh evidence to explain the source of cash deposits in the bank accounts and since the assessee could not produce the evidences before both the authorities below, for fairness the additional evidences submitted before this Tribunal for the first time may be admitted and the disputed issue may be remanded back to the file of the Assessing Officer for fresh assessment. We note that day-wise cash flow statement of assessee is placed at Page Nos.15 to 17 of paper book, which is presented before us for the first time and the said document has not been before the ld. CIT(A) or the Assessing Officer. We also note that the bank statement of Standard Chartered and SBI which are placed at Page No.12 to 14 has also not been produced before the Assessing Officer as well as ld. CIT(A). Since, the assessee could not produce documents or explanation before the Assessing Officer, the Assessing Officer made the addition u/s 69 invoking “Best Judgment Assessment” under section 144 of the Act. Before the ld. CIT(A), the assessee could not submit the aforesaid documents which according to the ld. AR is very much necessary for fair determination of the source of amount deposited in the bank account of the assessee. In such a scenario, for justice and fair play, we are inclined to admit the additional evidences adduced before us and we set aside the order of the ld. CIT(A) and remand the matter back to the file of Assessing Officer with a direction to de novo assess the income of the assessee after taking into consideration the cash book/cash flow statement filed before us in respect of the cash deposits made by the assessee in his bank accounts.

Order is pronounced in the open court on 11.07.2018 Sd/- Sd/- (M. Balaganesh) (Aby. T. Varkey) Accountant Member Judicial Member Dated : 11th July, 2018 Jd.(Sr.P.S.)

3 Aftakar Ahmed, AY- 2007-08 Copy of the order forwarded to: Appellant – Shri Iftakar Ahmed, 32B, taltala Lane, Sattar Palace, 2nd 1. floor, P.S. Taltala, Kolkata-700 016. Respondent – ITO, Ward-53(3), Kolkata. 2 3. The CIT(A) -XXXIII, Kolkata. (sent through e-mail)