2025 (5) TMI 1777

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....ar (AY) 2018-19, confirming the assessment order passed under section 147 r.w.s. 144 and 144B of the Act dated 22.03.2023, wherein the Assessing Officer [hereinafter referred to as "AO"] made an addition of Rs. 1,37,90,000/- under section 69A of the Act, taxed under section 115BBE of the Act. Facts of the Case: 2. The assessee is a charitable trust engaged in running Government approved educational institutions - Shree Panchtirth Vidhyalaya (standards 1 to 8) and Shree Panchtirth Higher Secondary School (standards 9 to 12). Based on AIR information under the Insight Portal, it was observed that the assessee had deposited cash aggregating to Rs. 1,37,90,000/- during Financial Year (FY) 2017-18. The assessee had not filed the return of inc....

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....d the assessment was completed ex-parte by treating the entire amount of cash deposit as unexplained money under section 69A and taxed at the applicable rate under section 115BBE of the Act. Penalty proceedings under section 271AAC and section 272A(1)(d) of the Act were also initiated. 3. Aggrieved by the reassessment order, the assessee filed appeal before the CIT(A). However, even during the appellate proceedings, the assessee did not file any written submissions or evidence, despite issuance of multiple notices. The CIT(A) dismissed the appeal relying on some judicial precedents. The CIT(A) held that the AO had passed a reasoned order, and in absence of any material placed on record during appeal, the additions stood confirmed. Aggrieve....

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....dings properly. He fairly admitted the lapse on the part of the assessee in the earlier stages but pleaded that the assessee now stands prepared to produce all supporting records and evidence. The AR also agreed to pay a cost of Rs. 10,000/-, acknowledging the inconvenience and judicial time lost on account of such default. 5. The learned Departmental Representative (DR) did not object to restoring the matter back to the file of AO considering the nature of additions made in absence of compliance. 6. We have carefully considered the rival submissions and perused the materials on record. It is undisputed that the assessment order as well as the CIT(A)'s order both were passed ex-parte, in the absence of any response or compliance from the ....