, , आयकर अपीलीय अिधकरण इंदौर (cid:586)ायपीठ इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI B.M. BIYANI, ACCOUNTANT MEMBER AND SHRI PARESH M JOSHI, JUDICIAL MEMBER ITA No.693/Ind/2025 (AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

(AY: 2016-17)

आदेश / O R D E R Per Paresh M Joshi, J.M.:

This is an Appeal filed by the Assessee under section 253 of the income tax Act 1961,[ herein after referred to as the Act for the sake of brevity] before this tribunal as & by way of a second Appeal. The Assessee is aggrieved by the order bearingNumber:-ITBA/NFAC/S/250/2025-26/1078511085(1) dated 15.07.2025 passed by the Ld. CIT(A) u/s 250 of the Act, which is herein after referred to as the “Impugned order”. The Relevant Assessment year is 2016-17 and the corresponding previous year period is from 01.04.2015 to

31.03.2016.

2. Factual Matrix

2.1 That as and by way of an Assessment order made u/s 147 rws 144/144B of the Act, the total income of the Assessee was computed & assessed at Rs. 9,84,35,092/-.No income tax return was filed. The addition on account of unexplained money u/s 69A rws 115BBE of the Act was at Rs. 9,80,10,563/-.There was yet another addition on the account of interest under the head income from the other sources at Rs. 4,19,451/-. There was yet one more addition on the account of commission/brokerage under the head income from other source at Rs. 5,078/-. The aforesaid assessment order bears number:-ITBA/AST/S/147/2023- 24/1061442259(1) & that the same is dated 24.02.2024 which is herein after referred to as the “Impugned Assessment Order”.

2.2 The Assessee is a Non-Filer during the year Under Consideration despite having taxable Income.

2.3 That the assessee had made various financial transactions on the PAN allotted to it which are as under:-

1) The Assessee had deposited Cash of Rs. 52, 62, 900/-in his bank account held with Axis Bank RS 14,94,000/ in his bank account with held with the State bank of India and Rs 91,54,000/- in his bank Account-held with bank of Baroda during the Financial Year 2015-16.

2) The assessee had received interest (Section 194A) of Rs. 4,19,451/- from Shri Omprakash Gupta and had also received commission/brokerage (section 194H) of Rs. 5078/-

from the HDFC bank Ltd.

2.4 The transaction based upon the financial activity of the assessee has been summarized in the data base of the Income Tax Department. On the basis of analysis of this data the then AO issued notice u/s 148A(b) vide dated 21.02.2023 and same was duly served upon the assessee in time. Later on notice u/s 148 of the I.T. Act, 1961 dated 28.03.2023 was issued vide DIN No. ITBA/ASST/S/148-1/2022-23/1051516250(1) and same was delivered in due time.

2.5 It is recorded in the “Impugned Assessment Order” as under:

2.6 It is also recorded in the “Impugned Assessment Order” “after considering the facts available on record detailed show cause 08.02.2024 has been issued and same is reproduced as under:

2.7 It is recorded in the “Impugned Assessment Order” that since the assessee had not furnished any reply during the assessment proceedings. Hence the case completed as per the provision of section 144(1)(6). It is also recorded in the “Impugned Assessment Order” that “ it is evident and self explanatory that the assessee has intentionally not filed any details against the statutory notice including specific questionnaire & Show cause notices regarding deposits in bank account during the F.Y. 2015-16 relevant to A.Y. 2016-17 as to escape fron imposable tax liability and hence failed to discharge his onus. Hence, cash deposited amounting to Rs.9,80,10,563/- remained unexplained income of the assessee during the year and same is hereby treated as unexplained money under the ownership of the assessee u/s 69A of the Act.

2.8 In the impugned assessment order in para 5 it is recorded as under:

“5. xxx it is concrete evidence and crystal clear