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2016 (1) TMI 243 - AT - Income TaxEligibility of deduction u/s. 54 - Held that:- As seen from the so called revised plan placed there is a cellar floor consisting of 26.37 Sq. Mtrs., which is not reported in the valuation report stated above. In order to examine the dimensions, they were stated in Sq. Mts and there is variation in design it self. The ground floor and first floor are of similar dimensions, whereas second floor is lesser than that. The ground and first floor was mentioned as 302.35 Sq. Mtrs., whereas the second floor area was shown at 231.35 Sq. Mtrs. In the valuation report the ground floor is different from first and second which are of same dimensions. Thus, there is variation in the building structure itself from the valuation report to the so called plan placed on record. Not only that, the plot area on which building was constructed as per the original sale deed is triangular in nature, whereas the present area is almost like a rectangle. From where the additional area has come in the revised plans placed on record was not explained when questioned. Therefore, as requested by assessee, only site inspection can confirm whether assessee has indeed constructed altogether a new house or only made extension to the old bulding. The variations noted above also require deeper examination physically. Therefore, AO is directed to give an opportunity to assessee, take the technical people like Valuation Officers of the department and examine whether the structure as claimed by assessee is old or new, so as to consider the eligibility of deduction u/s. 54. Undisclosed cash deposited into bank account - Unexplained investment - Held that:- There is no nexus established with reference to the sale transaction being contended by assessee. In view of this, we are unable to accept assessee’s contentions that assessee has received any consideration in cash over and above the amount, which was originally returned by assessee in the return of income. As rightly noticed by the AO, assessee in fact has filed return on 20-03-2012 belatedly when the return was due in September, 2010. The belated return itself indicate that sufficient time was taken by assessee to decide the matters. This do indicate that there is no nexus with the cash deposits in the bank a/c to that of sale consideration received by assessee which was originally disclosed in the computation of income. Since assessee has not furnished any correlation with reference to sale of property, the cash deposits made into the bank a/c are rightly considered as ‘Unexplained investment’ by the AO. Since assessee is sufficiently aged and has a grown up son practicing as a doctor and also assessee receives money from assessee’s husband who is working in Saudi and also owns properties, the facts in the case of Smt. P.K. Noorjehan (1997 (1) TMI 6 - SUPREME Court), does not apply to the fact situation in assessee’s case. It is for assessee to establish the source of funds and since there is failure on the part of assessee to explain sources of deposits, the provisions of the Act are automatically invoked. We do not see any reason to interfere with the orders of AO and CIT(A) - Decided against assessee
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