TaxTMI 
TaxTMI 
2022 (8) TMI 451
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....ssessment years 2011-12 & 2012-13 u/s.143(3) r.w.s.147 of the Income Tax Act, 1961 (hereinafter the 'Act') vide orders of even date 28.12.2018. 2. At the outset it is noticed that this appeals are time barred by 147 days as the order of CIT(A) was received by assessee on 13.03.2020 and appeal was to be filed before Tribunal on or before 12.05.2020, instead the appeal was filed by assessee only on 06.102.2020 thereby delay of 147 days. The assessee has filed condonation petition along with affidavit stating that the delay was due to Covid-19 pandemic and the Hon'ble Supreme Court in Miscellaneous Application No.665 of 2021 vide order dated 23.03.2020 has given directions that the delay are to be condoned during this period 15.03.2020 to 14.....
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....in the bank account of the appellant. Therefore the learned AO ought to have treated the same as business turnover and addition should have been made only to the extent of profit from such business even though the assessee has not given documentary evidence of business turnover. 3. The CIT (Appeals) passed the order dismissing the appeal without considering the fact that withdrawals through cash and NEFT have been made throughout the year in the account for making payment to suppliers and meeting out other direct and indirect expenses. 4. It is the general practice of rice traders from Andhra Pradesh to sell rice directly to customers in Chennai. The appellant's uncle is also one such person who was selling rice to his customers d....
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....d HDFC bank - Rs.6,58,500/-) out of the total cash deposits of Rs.65,37,000/- (ICICI bank - Rs.46,74,900/- and HDFC bank - Rs.18,62,100/-), added the balance amount of Rs.51,84,300/- (ICICI bank- Rs.39,80,700/- and HDFC bank - Rs.12,03,600/-) as unexplained money as per the provisions of section 69A of the Act. The AO required the assessee to explain the source of deposits and the assessee explained vide letter dated 12.12.2018 that the savings bank account was used by his late family friend referred as his uncle Shri Subbarao, PAN-ANFPG1420L then residing at No.23/5, Peters Road, Royapettah, Chennai - 600014. It was explained that Shri Subbarao was a rice merchand from Nellore and distributed his rice through his employee Shri Muniaswamy ....
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....r of CIT(A) and stated that even, if assessee produce any evidence he is ready to send the same for seeking remand report from AO and ld.Senior DR offered this to the Bench. According to ld. Senior DR, there is no evidence available with the assessee and this is a cooked up story by assessee and he has to explain the source of these cash deposits in these assessment years. The ld. Senior DR relied on the two judgments of Hon'ble Supreme Court in the case of Hon'ble Supreme Court in the case of Sumathi Dayal Vs. Commissioner of Income Tax, [1995] 214 ITR 801 and Commissioner of Income Tax Vs. Durga Prasad More (1971) 82 ITR 540 (SC). 6. On query from the Bench, the ld.counsel for the assessee only pleaded mercy but refused to file any evide....