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2015 (9) TMI 1042 - AT - Income TaxUnexplained source of cash deposits - contention of the ld. AR is that the cash amounts credited in the saving bank accounts are sale proceeds of standing crop, shesham trees and live stock - Held that:- We agree with the observations of the authorities below that the documents furnished by the assessee in support of their contentions are not full proof and the veracity of the documents furnished is not established. We find that the Assessing Officer has also not exercised his jurisdiction to verify the genuineness of the documents produced by the assessee. In our considered view there were deficiencies on the part of the assessee as well as Revenue to ascertain the authenticity of the transactions. The assessee has not placed on record Revenue records viz. Jamabandi, Khasra Girdwaries etc. to substantiate the presence of shesham trees, the nature of crop and the extent of crop grown on the agricultural land jointly held by the assessees and their brothers. Thus remit the file back to the Assessing Officer to decide the issue afresh after considering the relevant documents. As far as live stock is concerned, we do not find force in the argument of the ld. AR of the assessees. It is an admitted fact that the assessees have migrated to Pune (Maharashtra) 10-12 years back. It would be highly improbable that in the absence of the assessees anyone will take care of live stock for such a long period in the native village. More so, when the assessees have no intention to return to their roots in near future, it would be implausible to maintain live stock in native village. Therefore, we confirm the addition in respect of cash receipts from the sale of live stock. - Decided partly in favour of assessee for statistical purpose
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