2026 (7) TMI 1318

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.... 2. The assessee has raised the following grounds of appeal. "1. The order passed by the Ld. CIT(A) dismissing the appeal of the appellant is bad in law and on the facts and circumstances of the case. 2. The Ld. CIT(A) has erred in law and on facts in confirming the action of the Assessing Officer in assessing the income at Rs. 1,66,84,150/- invoking the provisions of Section 115BBE of the Income Tax Act, 1961 by failing to appreciate that the Appellant had provided sufficient explanation regarding the source of funds/credits. 3. The Ld. CIT(A) has erred in law and on facts in not adjudicating the appeal based on the additional evidence filed by the Appellant under Rule 46A. In that the Ld. CIT(A) failed to apprec....

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....ny and notices u/s 143(2) and 142(1) were duly issued and served upon the assessee. The Ld. A.O. then passed the assessment order u/s 143(3) of the Act dated 30/12/2019 determining total loss of Rs. 14,51,39,386/- after making an addition of Rs. 1,66,84,150/- as unexplained cash u/s 68 of the Act chargeable to tax u/ s 115BBE @ 60%. 4. Aggrieved, the assessee was in appeal before the first appellate authority who vide order dated 17/02/2026 upheld the addition made by the A.O. by rejecting the assessee's additional evidences filed under Rule 46A of the Rules. 5. Aggrieved, the assessee is in appeal before us, challenging the impugned order of the Ld. CIT(A). 6. We have heard the rival submissions and perused the materials available....

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....hat the assessee has got a good case on the merits and due to unavoidable circumstances the assessee was unable to produce the additional evidence before the Ld. A.O. 8. The Ld. Departmental Representative (in short "Ld. DR)" supported the findings of the Ld. CIT(A). On the above factual matrix of the case, it is observed that the Ld. CIT(A) has denied the additional evidences filed by the assessee and had also not adjudicated the issue on the merits. As the basis of the said evidences, though the Ld. CIT(A) had the power of co-terminus as that of the Ld. A.O. In order to extend, the assessee one more opportunity to adduce all documentary evidences, we deem it fit to remand this issue back to the file of Ld. A.O. by adhering to the princ....