TaxTMI 
TaxTMI 
2025 (6) TMI 1549
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....al. In this case, search u/s. 132 of the Income Tax Act, 1961 [ for short 'the Act') was conducted as cash of Rs. 74,98,000/- and a gold like metal was intercepted by the police, which was requisitioned u/s. 132A of the Act by executing warrants on 22.05.2018. The case was centralized to the 0/o. ACIT(Central)- 1, Raipur u/s. 127 of the Act, vide order dated 05.11.2020 of the PCIT-1, Raipur. The assessee filed return of income for the year under consideration on 30.09.2019 declaring total income of Rs. 21,35,210/-. Accordingly, all the statutory notices were issued and served on the assessee. In this case, the RPF (Crime Intelligence Branch), Raipur on 21.05.2018 informed the Income Tax Department that cash of Rs. 74,98,000/- along with a g....
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....e of search proceedings, the statement of the assessee was recorded on oath on 21.05.2018 wherein he had admitted that the entire cash found from possession of Shri Devanand Behera of Rs. 74,98,000/- belongs to him. Again, in reply of question -9, he stated that the entire amount of Rs. 74,98,000/- was not recorded in the books of account of his firm or in individual books. On this issue, the explanation of the assessee was called for as to why the same should not be treated as unexplained credit u/s. 68 of the Act for the year under consideration. In the response to above assessee has submitted his reply before the AO. The AO perused the reply of the assessee and found that the assessee categorically denied and retract the statement record....
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.... Act and added a sum of Rs. 74,98,000/- on account of unexplained money u/s. 69A of the Act & Rs. 66,000/- on account of unexplained income. 4. That being further aggrieved, the assessee carried the matter in appeal before the first appellate authority. The Ld.CIT(Appeals)/NFAC provided several opportunities to the assessee. However, the assessee miserably failed to comply with any of the said hearing notices which resulted in an ex-parte order passed by the Ld.CIT(Appeals)/NFAC. For the sake of completeness, the relevant Paras of the order of the Ld. CIT(Appeals)/NFAC is culled out as follows: "The appeal was fixed for hearing on 17.12.2024. In response to the hearing dt. 17.12.2024, the assessee has submitted a request for adjournment ....
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....ve heard the submissions of the parties herein and carefully considered the contents in the documents/material available on record. As per the aforesaid examination of the entire spectrum of the matter in the interest of natural justice, we deem it fit and proper to provide one final opportunity to the assessee to represent his case on merits before the Ld. CIT(Appeals)/NFAC. 7. In the overall spectrum of the ex-parte order being passed due to non-compliance by the assessee before the Ld.CIT(Appeals)/NFAC, we refer to the order of the ITAT, "Division Bench", Raipur in the cases of Brajesh Singh Bhadoria Vs. Dy./ACIT, Central Circle-2, Naya Raipur, IT(SS)A Nos.1 to 6, 8 & 9/RPR/2025, dated 20.03.2025 wherein the Tribunal had dealt with simi....