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Income Tax Appellate Tribunal, PUNE “SMC” BENCH : PUNE
Before: SHRI SATBEER SINGH GODARA
The Income Tax Officer, Mr. Dinesh Shantaram Ward – 10(1), Pratyashkar Bankhele, A/P Manchar, Bhavan, Dr. Ambedkar Marg, Tal-Ambergaon, PUNE. vs. Nr. Akurdi Rly. Station, PIN – 410 503. Pradhikaran, Nigdi, Pune. Maharashtra. PIN – 411 044. PAN AQGPB6082M Maharashtra. (Appellant) (Respondent) For Assessee : Shri Abhay A. Avchat For Revenue : Shri Manish Mehta Date of Hearing : 20.03.2024 Date of Pronouncement : 02.05.2024 ORDER This assessee’s appeal for assessment year 2011-12, arises against the Addl./JCIT(A), Mysore, Mysore’s Din and Order No.ITBA/APL/S/250/2023-24/1059427959(1), dated 05.01.2024, involving proceedings u/s.143(1) of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties. Case file perused.
Case called twice. None appears at assessee’s behest. He is accordingly proceeded ex-parte.
It emerges during the course of hearing that the learned CIT(A)'s impugned lower appellate order, affirming
2 ITA.No.321/PUN./2024 Assessing Officer’s initiation sec.148/147 proceedings therby adding cash/time deposits of Rs.23.50 lakhs; has been passed ex-parte.
Learned DR vehemently argued that the assessee has been non-cooperative all along wherein he had not even filed his return in response to sec.148 notice issued by the assessing authority.
Faced with this situation, I note that the assessee had made a categorical submission in his ground(s) before the Ld. CIT(A) that his return had been duly filed on 17.12.2018. The CIT(A)'s detailed discussion in para 6.1 pages 5 to 6 has duly taken note of the corresponding e-verification on 28.12.2018. It has been further observed that the assessee had contractual receipts of Rs.23,65,140/- followed by net profit declaration of Rs.2,13,075/-. All these facts forms sufficient material to indicate that the assessee has been carrying-out contractor business and therefore, the impugned cash deposits; although not sufficiently explained; deserve assessment as his business receipts only. Faced with this situation, I deem it appropriate in these peculiar facts and circumstances that larger interest of justice would be met in case the foregoing cash deposits @ 10% net profit coming to Rs.2,35,000/- are assessed with a rider that the same shall not be treated as a precedent in any other case. Necessary
3 ITA.No.321/PUN./2024 computation shall follow as per law. The impugned addition of Rs.23.50 lakhs is upheld to the extent of Rs.2,35,000/- only in otherwords. Ordered accordingly.
This assessee’s appeal is partly allowed in above terms.
Order pronounced in the open Court on 02.05.2024.