MR. MOHAN ,CHENNAI vs. ITO , CHENNAI

This appeal by the assessee is directed against the order of the learned Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre, Delhi (CIT(A) dated 16-09-2022 and pertains to the Assessment Year [AY] 2016-17.

The subject matter of the appeal is the cash deposit to the tune of Rs.2,00,35,925/- made by the assessee in his savings bank accounts. The Ld. AO added this amount to the total income of the :- 2 -: assessee vide assessment order dated 20-12-2018 treating it as unexplained cash credit. Being aggrieved, the assessee filed appeal before the learned CIT(A) unsuccessfully. The ld. CIT(A) vide order dated 16-09-2022 dismissed the appeal of the assessee. Thus, the ld. CIT(A) confirmed the addition made by the ld. AO. Being aggrieved, the assessee filed the present appeal before the Tribunal.

We heard the representatives of both the parties and decided to remit the matter to the ld. AO for re-examination and decision afresh to which the ld. DR has no objection. Accordingly, we set aside the order of the ld. CIT(A) dated 16-09-2022 as well as the assessment order dated 20-12-2018 and direct the ld. AO to re-examine the matter afresh and pass an appropriate order thereon. At the same time, we also direct the assessee to substantiate his claims before the ld. AO.

In the result, the appeal of the assessee is allowed for statistical purposes only.