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2017 (11) TMI 1741 - AT - Income TaxAddition u/s 69 - admission of addition evidence to prove the source of cash deposited in saving bank account - peak credit of the cash deposits - Held that:- The appellant was unwilling to give any information regarding the taxability of such accruals in the hands of the appellant’s mother during the relevant period. Under these circumstances, the appellant was denied the opportunity of adducing the new evidence and the request was overwhelmingly rejected. As further observed by the CIT(A) that the appellant could not explain the source of cash deposits in the bank account even in the preceding assessment year which was confirmed in first appeal. From the consideration of the observation of the Ld. CIT(A) for rejecting the request of assessee for admission of additional evidence, we are of the view that he has passed well reasoned and logical order, hence, does not suffer from any illegality, perversity and impropriety. The alleged agreement to sale on which the assessee relying, is undisputedly unregistered, therefore, it has no efficacy in the eyes of law and obviously no “transfer” can be said to have been taken place under the said document, therefore, the same cannot be taken into consideration for establishing the claim. Under the Income Tax Act specifically sub-clause (vi of Sec.2 (47) of the I.T. Act and finally no profit or gain can be taken into consideration from the unregistered agreement to sale. The case relied upon by the assessee are altogether dissimilar to the instant case and hence not applicable to the case in hands, hence, the ground Nos.1 to 3 stands dismissed. Addition on account of net profit @5% on the total amount of cash deposits in the saving bank account of the assessee - Held that:- From the order passed by the CIT(A), we realized that although the assessee has raised the ground before the Ld. CIT(A) with regard to the ground No.4 herein, however, from the order passed by the Ld. CIT(A) it appears that the said issue was taken by the assessee in the grounds of appeal before the Ld. CIT(A), however, neither specific agitation made by the Assessee nor adjudicated by the Ld. CIT(A), therefore, we feel it appropriate to remand back the issue raised in ground No.4 of instant appeal to the file of Ld. CIT(A) to adjudicate the same on merit by offering proper and reasonable opportunity of being heard.
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