IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER Assessment year : 2015-16 Vishnu Subhash Agarwal ITO, Ward 6(1), Pune

208, Mangalwar Peth, Kasba Peth S.O, Vs.

Pune – 411011 PAN: APYPA0686B (Appellant) (Respondent)

Assessee by : Shri Neelesh Khandelwal Department by : Shri Arvind Desai, Addl CIT DR Date of hearing : 27-03-2025 Date of pronouncement : 25-04-2025

O R D E R

PER R. K. PANDA, VP :

This appeal filed by the assessee is directed against the order dated

15.10.2024 of the Ld. CIT(A) / NFAC, Delhi relating to assessment year 2015-16.

2. Facts of the case, in brief, are that the assessee is an individual and has filed his return of income u/s 139 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) on 05.04.2016 declaring total income of Rs.2,83,490/-. Information was received that the assessee has deposited cash amounting to Rs.2,05,80,344/- in his account maintained with Shri Renuka Mata Multi State Urban Co-operative Credit Society Ltd. Accordingly, the case was reopened by issuing a notice u/s 148 of the Act on 08.04.2021 by following the provisions of Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (hereinafter referred to as ‘TOLA’). However, the assessee failed to make any compliance to the said notice. Thereafter, the Jurisdictional Assessing Officer passed the order u/s 148A(d) of the Act on 18.07.2022 which was duly served upon the assessee. As per the said notice the assessee was required to deliver within 30 days from the service of the notice a return in the prescribed form for the said assessment year which was not done. Since the assessee did not respond to the said notice, the Assessing Officer proceeded to complete the assessment u/s 144 of the Act. Since the assessee failed to explain the source of the cash deposit of Rs.2,05,80,344/-, the Assessing Officer, invoking the provisions of section 69 r.w.s. 115BBE of the Act, made addition of the same to the returned income as unexplained investment.

3. Before the Ld. CIT(A) / NFAC the assessee apart from challenging the addition on merit, challenged the validity of re-assessment proceedings. However, the Ld. CIT(A) / NFAC was not satisfied with the arguments advanced by the assessee and dismissed the appeal.

4. Aggrieved with such order of the Ld.CIT(A) / NFAC, the assessee is in appeal before the Tribunal by raising the following grounds:

1. On facts and circumstances prevailing in the case and as per provisions and scheme of the Act it be held that the Ld. AO erred in assuming jurisdiction u/s. 147 of the Act for the assessment year under consideration. The assessment framed by the Ld. AO and confirmed the Ld. First Appellate Authority be set aside. The addition so made be deleted. Just and proper relief be granted to the Appellant in this respect.

2 Without prejudice to Ground no. 1 and on facts and circumstances prevailing in the case and as per provisions and scheme of the Act it be held that, the proper authority as per provisions of the Act has not issued the notices. The assessment framed by the Ld. AO and confirmed the Ld. First Appellate Authority be set aside. The addition so made be deleted.

Just and proper relief be granted to the Appellant in this respect.

3 Without prejudice to Ground no. 1 and 2 and on facts and circumstances prevailing in the case and as per the provisions of law, it be held that notice u/s. 148 of the Act issued by the Ld. AO, is in violation of the express instructions issued by CBDT circular. The assessment order made in pursuance of such a notice and confirmed the Ld. First Appellate Authority be quashed and the addition made be deleted. The Appellant be granted just and proper relief in this respect.

4. Without prejudice to Ground no. 1, 2 and 3 and on facts and circumstances prevailing in the case and as per the provisions of law, it be held that the addition of Rs. 2,05,80,344/- u/s. 69 of Incom