2025 (7) TMI 1479

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....s. 144 read with section 144B of the Income Tax Act, 1961. 2. The Grounds of Appeals raised by the assessee are follows 1) The learned assessing officer is totally unjustified in assessing the income of the assessee an income of Rs. 30,074/- which represents the cash deposits in saving bank account of the assessee and his wife Bhawana Soni. The Ld. AO has applied Section 69A and the appellant objected application u/s. 69A and Ld. CIT Appeal has not given any of his comments and silent on the grounds of appeal no. I raised before the CIT Appeal. The action of the Ld. AO and CIT Appeal is totally illegal incorrect and bad in law. 2) The Lat 40 has not considered the business assessee and his wife Bhawana Soni even though ....

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.... registered e-mail id with prior approval from the higher authority. The assessee had not filed ITR in response to the above cited notice. Thereafter notices u/s 142(1) dated 16.06.2021, 11.11.2021, 23.01.2022, 28.01.2022 of the Act were issued along with questionnaires and served upon the assessee through the registered email to explain the source and genuineness of the above transaction. In response to the above cited notices, the assessee has filed replies dated 31.01.2022 & 01.02.2022. On perusal of the said replies it is seen that the assessee had furnished computation of income, balance sheet. profit & loss account and Bank statements for the year under consideration ie, AY:2013-14. Further the break-up of the cash deposited by the as....

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....o substantiate this claim. He has furnished no proper verifiable source even in hands of his wife whereby the cash deposits could be explained in her hands Accordingly the addition of Rs. 83,00,714/- made by the AO on account of unexplained cash credits u/s 69A of the Act is hereby confirmed. Thus the ground of appeal No. 1 is dismissed 5. The assessee is an appeal against the impugned order of the L.d. CIT dated: 24/11/2023 before us. 6. During the course of hearing, the Ld. AR of the assessee submitted that the assessee has deposited cash of Rs. 83,00,714/- in the Bank. That the amount deposit after business receipt of the assessee and the cash withdrawal from the Bank ITR could not file Income-tax return because of corona pandemic ....

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.... account. It is also to be noted that cash withdrawal these Bank account and deposits in Bank for the purpose to run the business activities. We find that assessing officer made addition in respect of cash deposit of Rs. 83,00,714/-, in the current bank account, however, the assessing officer is silent about cash withdrawal, which is not acceptable. These facts clearly show and establish the overall approach of the assessing officer, to make high pitched assessment. The Assessing Officer has not considered both the sides of the Bank statement of the assessee and allegedly passed the order by making addition of income u/s 69A of the Act. Before Id. CIT(A), the assessee submitted that addition u/s. 69A of the Act. is bad. The deposit with the....