Appeals emphasize AO's duty on withdrawals, validity of additions without incriminating material left open for further review.

The appeals were allowed, emphasizing the importance of the AO properly considering withdrawals along with deposits. The legal issue regarding the validity of additions without incriminating material was left open for further examination.

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Issues:
- Validity of assessment under section 153A r.w.s. 143(3) of the Income Tax Act
- Addition made by AO in absence of incriminating material found during search and seizure
- Challenge to the order passed by CIT(A) under section 250 and 154 of the Act
- Proper consideration of withdrawals along with deposits by the AO
- Legal issue regarding the validity of addition without incriminating material

Analysis:

1. Validity of Assessment under Section 153A r.w.s. 143(3) of the Income Tax Act: The assessee challenged the assessment under section 153A for the years 2008-09 to 2013-14. The AO made additions on account of unexplained deposits in the bank account of the assessee under section 69 of the Income Tax Act. The CIT(A) confirmed the additions made by the AO, leading to the filing of appeals by the assessee against the orders passed under section 250 and 154 of the Act.

2. Addition Made by AO in Absence of Incriminating Material: The assessee contended that the additions were made without any incriminating material found during the search and seizure operation. The CIT(A) did not adjudicate on this issue, prompting the assessee to file a petition under section 154 for consideration of this ground. However, the petition was dismissed by the CIT(A), leading to the filing of appeals against both orders.

3. Challenge to the Orders Passed by CIT(A) under Section 250 and 154 of the Act: The appeals raised various grounds challenging the validity of the assessment, the legality of additions made, and the consideration of withdrawals along with deposits. The assessee argued that the AO and CIT(A) did not properly consider the corresponding withdrawals by the assessee and that the additions should have been based on peak credits in the bank account.

4. Proper Consideration of Withdrawals by the AO: The learned counsel for the assessee argued that the AO did not consider the withdrawals made by the assessee while making additions for unexplained deposits. The matter was remanded to the AO for re-adjudication to consider withdrawals along with deposits for each year, ensuring the assessee is given a proper opportunity of hearing.

5. Legal Issue Regarding Validity of Addition without Incriminating Material: The legal issue challenging the validity of additions made by the AO in the absence of incriminating material was kept open for further consideration. The AO was directed to ascertain whether any incriminating material was found during the search and seizure action, which could disclose undisclosed income related to the bank account deposits.

In conclusion, all the appeals were allowed, emphasizing the need for proper consideration of withdrawals along with deposits by the AO and leaving the legal issue regarding the validity of additions without incriminating material open for further examination.

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