RAMASWAMY NADAR ARUMUGARAJ,COIMBATORE vs. ITO, NON CORP WARD-3(3), COIMBATORE

Brief facts are that the assessee during demonetization period had deposited in SBNs amounting to Rs.17,95,500/-. Hence, in the absence of proper explanation AO proceeded with assessment u/s 143(3) of the Act and made an addition u/s 69A as unexplained money. The Ld. CIT(A) confirmed the same since the assessee failed to file any cogent evidence or make proper representation during entire appellate proceedings. Aggrieved, the assessee is in further appeal before us 3. During hearing none has appeared for assessee. The Ld. Sr. DR has pleaded for dismissal of the appeal.

Though the assessee has remained negligent, however, keeping in mind the principle of natural justice, we deem it fit to grant another opportunity to the assessee to file cogent evidence, if any, to substantiate its case. Accordingly, the appeal is restored back to learned CIT(A) for denovo adjudication after affording reasonable opportunity of hearing to the assessee. The assessee is directed to substantiate its case forthwith failing which Ld. CIT(A) shall be at liberty to proceed with disposal of appeal on merits.

The appeal is allowed for statistical purposes. Order pronounced in the open court on 29th day of May, 2024 at Chennai.