SHRI PIYUSH MATHUR,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD 7(2),, AHMEDABAD

Relevant facts are in a very narrow compass. There is no dispute about the assessee to have deposited the sum in question of Rs.62.18lacs in his savings bank account. He pleaded in assessment proceedings that he had received commission income from M/s. Piyush Mathur & Co. and passed advanced made to one Shri C C. Shah to the tune of Rs.9.5lacs. We notice from assessment order that he could not file any such confirmation, bank statement or their returns so as to prove identity, genuineness and creditworthiness of the above deposits. The Assessing Officer therefore treated the same s unexplained u/s.69A of the Act to make the impugned addition in assessment order dated 29.12.2011. The CIT(A) affirms Assessing Officer’s action in his ex parte lower appellate order.

We have heard learned Departmental Representative strongly supporting the impugned addition. It emerges that the assessee’s instant case file does not contain even a single relevant document to explain his above cash deposits. We therefore find no reason to defer with both the lower authorities’ action making the impugned addition. The assessee fails in his sole substantive ground.

This assessee’s appeal is accordingly dismissed.