Indian Kanoon - Search engine for Indian Law

b. NRI Loan F3,97,000/-

Before the Commissioner of Income Tax (Appeals), the assessee submitted that the Assessing Officer went wrong in making the addition without accepting the copies of bank account statements of the assessee and the creditor. After migrating to core banking solutions, no banks are in a position to furnish particulars of the accounts prior to 2006. Hence the question of their certifying the statements is ruled out and calling for certified copies of the bank accounts and further details from the assessee is in total violation of the principle of natural justice. According the ld. Authorised Representative for assessee the Assessing Officer went wrong in making the addition without accepting the copies of bank account statements of the :- 15 -: I.T.A.Nos.2036 & 2037, 2039 to 2045/Mds/2013, 1884 to 1890/ 2013, 462/2011 & 649/2011.

7.2 On appeal before the Commissioner of Income Tax (Appeals) the ld. Authorised Representative for assessee submitted that the AO went wrong in making the addition without accepting the copies of bank account statements of the assessee and the creditor. After migrating to core banking solutions, no banks are in a position to furnish particulars to the accounts prior to 2006. Hence the question of their certifying the statements is ruled out. Hence calling for certified copies of the bank accounts and further details from the :- 22 -: I.T.A.Nos.2036 & 2037, 2039 to 2045/Mds/2013, 1884 to 1890/ 2013, 462/2011 & 649/2011.

u/s 68 of the Income tax Act. Aggrieved, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) confirmed the order of the Assessing Officer. Against this, the assessee is in appeal before us. 20.2 The ld. Authorised Representative for assessee submitted that the addition made without accepting the Copies of bank account statements of the assessee and the Creditor. After migrating to core banking solutions, no banks are in a position to furnish particulars so the accounts prior to 2006. Hence the question of their certifying the statements is ruled out. Hence calling for certified copies of the bank accounts and further details from the assessee in total violation of the principle of natural justice. The Addition made without accepting the copies of bank account statements of the assessee and the creditor as relating to the loan from Shri Dinesh Kumar of F1,34,000/- and confirmation from the creditors about the Source of the money lent by Shri G.Govindaraju and Shri Stephen. 20.3 The ld. Departmental Representative relied on the orders of the lower authorities.