Addition of Rs. 2.25 Crores on Unexplained Cash Deposits: ITAT directs De Novo Hearing [Read Order]
The Tribunal directed the assessee to submit relevant details to the CIT(A) and instructed the CIT(A) to issue a fresh hearing notice
![Addition of Rs. 2.25 Crores on Unexplained Cash Deposits: ITAT directs De Novo Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Unexplained-Cash-Deposits-ITAT-Directs-De-Novo-Hearing-De-Novo-Hearing-taxscan.jpg "Addition of Rs. 2.25 Crores on Unexplained Cash Deposits: ITAT directs De Novo Hearing [Read Order]")
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) directed a de novo hearing in the case concerning the addition of Rs. 2.25 crores for unexplained cash deposits. Jigar Patel,appellant-assessee, challenged the order dated 29/11/2023 passed by Commissioner of Income Tax (Appeals)[CIT(A)]National Faceless Appeal Centre ( NFAC ), in proceedings under Section 250, for the...
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) directed a de novo hearing in the case concerning the addition of Rs. 2.25 crores for unexplained cash deposits.
Jigar Patel,appellant-assessee, challenged the order dated 29/11/2023 passed by Commissioner of Income Tax (Appeals)[CIT(A)]National Faceless Appeal Centre ( NFAC ), in proceedings under Section 250, for the assessment year 2017-18.
The assessee raised several points in the appeal. First, it was argued that the CIT(A) wrongly confirmed the addition of Rs. 1,45,05,261/- as unexplained money under Section 69A, which should be removed. Second, the assessee said that the CIT(A) did not properly consider the facts and information provided during the assessment before making the decision. Third, the order by the CIT(A) was considered invalid and legally incorrect. Lastly, the assessee asked for permission to change or add any points to the appeal before or during the hearing.
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The two member bench comprising Dr.BRR Kumar ( Vice President ) and Suchitra Kamble ( Judicial Member ) heard both parties and examined the records. In this case, the Assessing Officer(AO) passed an order on 25-12-2019 for the assessment year 2017-18, making an addition of Rs. 2.25 crores for unexplained cash deposits.
The assessee appealed to the CIT(A), who dismissed the appeal, stating that no evidence was provided to support the claims. The assessee’s counsel argued that if given another opportunity, the required documents would be submitted and that the submissions made during the assessment were overlooked. The Revenue counsel agreed with the proposal.
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The appellate tribunal, considering the facts of the case, directed the assessee to submit all relevant details he relied on before the CIT(A). The CIT(A) was instructed to issue a fresh notice of hearing and conduct the proceedings de-novo.
In short, the appeal filed by the assessee was allowed for statistical purposes.
To Read the full text of the Order CLICK HERE
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