SATHYAMOORTHY GANESH,CHENNAI vs. ITO, NON CORPORATE WARD- 19(6), CHENNAI

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ITA 35/CHNY/2024Status: DisposedITAT Chennai16 April 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 set aside the impugned order and restored the appeal to the CIT(A) for fresh adjudication. The assessee is granted another opportunity to substantiate its case, adhering to the principles of natural justice.

What were the facts?

The assessee's appeal concerns an addition of Rs. 29.57 Lacs for unexplained investment, representing bank account credits. The addition was confirmed by the Assessing Officer as the assessee failed to provide supporting documents.

What were the issues?

Whether the assessee should be granted a further opportunity to substantiate unexplained investment credits in bank accounts, considering the principles of natural justice.

Which sections of the Income-tax Act were involved?

Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI

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

आयकर अपीलीय अिधकरण ‘सी’ �ायपीठ चे�ई म�। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी मनोज कुमार अ/वाल ,लेखा सद3 एवं माननीय +ी मनु कुमार िग7र, �ाियक सद3 के सम8। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM आयकरअपील सं./ (िनधा9रणवष9 / Assessment Year: 2017-18) Shri Sathyamoorthy Ganesh ITO Old No.70 New No.15, Non-Corporate Ward-19(6), बनाम/ Vs. Kumaran Colony, First Street, Chennai. Vadapalani, Chennai-600 026. �थायीलेखासं./जीआइआरसं./PAN/GIR No. BOUPG-1761-F (अपीलाथ�/Appellant) : (� थ� / Respondent) अपीलाथ� कीओरसे/ Appellant by : Shri H. Yeshwanth Kumar (CA)-Ld. AR � थ�कीओरसे/Respondent by : Shri P. Sajit Kumar (JCIT)-Ld. Sr. DR सुनवाई की तारीख/Date of Hearing : 16-04-2024 घोषणा की तारीख /Date of Pronouncement : 16-04-2024 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

The grievance of the assessee in captioned appeal is confirmation of certain addition of unexplained investment for Rs.29.57 Lacs as made by Ld. Assessing Officer while framing an assessment u/s 144 on 20.09.2019. The addition represents credits in the bank accounts. Though the assessee preferred further appeal, it failed to file any supporting documents and accordingly, the addition was confirmed. Aggrieved, the assessee is in further appeal before us. The Ld. AR submitted that the assessee is in a position to substantiate its case. The Ld. Sr. DR pleaded for dismissal of the appeal.

2.

Accepting the plea of Ld. AR and keeping in mind the principle of natural justice, we deem it fit to grant another opportunity of hearing to the assessee to substantiate its case. Accordingly, the impugned order is set aside and the appeal is restored back to the file of Ld. CIT(A) for de novo adjudication after affording 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 dispose-off the appeal on merits. 3. The appeal stand allowed for statistical purposes. Order pronounced on 16th April, 2024.

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