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

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ITA 638/CHNY/2024Status: DisposedITAT Chennai29 May 2024AY 2017-18Bench: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI (Judicial Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal, while noting the assessee's negligence, restored the appeal to the CIT(A) for fresh adjudication. This was done to grant the assessee another opportunity to present cogent evidence to substantiate their case, adhering to the principle of natural justice.

What were the facts?

The assessee deposited Rs. 17,95,500/- in SBNs during demonetization. The AO added this amount as unexplained money under Section 69A, which was confirmed by the CIT(A) as the assessee failed to provide proper explanation or evidence.

What were the issues?

Whether the addition of demonetized currency deposits as unexplained money is justified without providing the assessee an adequate opportunity to present evidence.

Which sections of the Income-tax Act were involved?

Section 69A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ (SMC

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANU KUMAR GIRI, JM

Hearing: 20.05.2024Pronounced: 29.05.2024

आयकर अपीलीय अिधकरण ‘बी’’ �ायपीठ चे�ई म�। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ (SMC)BENCH, CHENNAI माननीय �ी मनोज कुमार अ�वाल ,लेखा सद� एवं माननीय �ी मनु कुमार िग�र, �ाियक सद� के सम�। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM आयकरअपील सं./ (िनधा�रणवष� / Assessment Year: 2017-18) Ramaswamy Nadar, Vs. The Income Tax Officer, 11/70-N, Balamalai Road, Non Corporate Ward 3(3) Periyanaickan Palayam, Coimbatore. Coimbatore 641 020. [PAN: AECPA 2893M] (अपीलाथ�/Appellant) (��यथ�/Respondent) अपीलाथ� क� ओर से/ Appellant by : None ��यथ� क� ओर से /Respondent by : Shri. S. Easwar, IRS, JCIT. सुनवाई क� तार�ख/Date of Hearing : 20.05.2024 घोषणा क� तार�ख /Date of Pronouncement : 29.05.2024 आदेश / O R D E R PER MANU KUMAR GIRI (Judicial Member)

Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 23.01.2024 in the matter of assessment order framed by the Ld.AO u/s 143 of the Act on 23-12-2019.

2.

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.

4.

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.

5.

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

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