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Judgment
PER MADHUMITA ROY, JM.:
The instant appeal filed by the assessee is directed against the order dated 10.10.2024 passed by the Ld. Commissioner of Income-tax (Appeals)-Delhi under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) arising out of the Assessment Order dated 26.12.2019 passed by the Assessment Unit, Income-tax Department under Section 143(3) of the Act for Assessment Year 2017-18.
None appeared on behalf of the Assessee in-spite of notice been sent. We have heard the Ld. DR and also perused the relevant material available on record.
It appears that the cash deposit of Rs. 212,00,000/- during the demonetization period is the subject matter before us out of which Rs. 56,23,047/- was added back. The Assessee’s contention that he has deposited Rs. 25,00,000/- from past savings and Rs. 40,00,000/-from cash withdrawals from bank on 06.11.2016 was not accepted by the authorities below as the same was not supported with corroborative evidences. Thus, in our considered opinion, the Assessee be given a further opportunity to represent its case effectively to the authorities below particularly the Ld. CIT(A) who is directed to consider the issue afresh upon granting an opportunity of being heard to the Assessee and upon considering the evidence on record or any other evidence which the Assessee may choose to file at the time of hearing of the matter. The Assessee’s appeal is, therefore, allowed for statistical purposes.