2021 (4) TMI 709

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....re that the assessee is an individual, filed his Return of Income for assessment year 2009-10 on 31.12.2009 declaring income of Rs. 1,37,610/-. The case was selected for scrutiny. During the assessment, the Assessing Officer, on the basis of AIR information noted that assessee has aggregate cash deposit of Rs. 16,45,500/- in saving bank account maintained by assessee in ABN Amro Bank. On further enquiries with bank, it was revealed that assessee has deposit of Rs. 35 lakhs (approximately) in the said bank account, which included a sum of Rs. 16,45,000/- in cash. The assessee was asked to provide the Bank Accounts maintained by assessee. The assessee disclosed his bank account in HDFC Bank, Nagpur only. The Assessing Officer further noted th....

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....9;, which have no sufficient profit to meet the requirements of his family, so he discontinued his business and joined HDFC Life as an employee. The assessee further explained that withdrawal and deposits were due to reasons that assessee came across opportunity to invest, finally decided not to take risk in depositing the cash back in the bank. It was further explained that deposits were given to Indo Asia Machinery and to Shri Rajkumar Baid for making business with him, but the term and condition was not accepted. The amount was taken back. The assessee also explained that bank account maintained with RBS was unaccounted but it was a mistake of not considering the interest received from saving account and offered the interest from RBS, SB....

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....most of the occasions Shri Manish J. Shah Advocate sought adjournments on one pretext or the other. However, on 09.02.2011 Shri Manish J. Shah Advocate filed an application for his withdrawal his authority from the case. The learned Counsel orally explained that he tried to contact the assessee and the briefing Chartered Accountant, Shri S.R. Sumani & Co. The assessee is not in contact either with instructed Chartered Accountant or with him. The Authorised Representative further submits that he has already sent a registered letter to the assessee intimating about the withdrawal of his authority and intimating the next date of hearing on 09.02.2021 and that the said registered letter is returned back unserved. On the aforesaid ground, the Co....