Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 313 - AT - Income TaxAddition on account of cash deposited in the bank account - Held that:- In the present case, it is noticed that out of the addition of ₹ 3,94,900/- sustained by the ld. CIT(A) a sum of ₹ 1,54,900/- was the opening cash balance which was brought forward by Smt. Sunita Sharma in her cash book, so, the said amount was not pertaining to the year under consideration and cannot be added. The another addition of ₹ 40,000/- was sustained for the deposits on 03.04.2009. However, on the perusal of the bank account, it is noticed that there was no such deposits on 03.04.2009. However, there was cash deposit of ₹ 40,000/- on 13.04.2009. It, therefore, appears that the date was wrongly mentioned by the ld. CIT(A) in the impugned order because the observations of the AO in the assessment order was that a sum of ₹ 40,000/- was deposited on 13.04.2009 for which no source of deposit was shown in cash flow statement and in the copy of the cash book also. In opinion, if no such entry had been shown, the addition to that extent deserves to be sustained. Accordingly, addition of ₹ 40,000/- is sustained. The another addition of ₹ 2,00,000/- was sustained by the ld. CIT(A) on account of house hold expenses out of the cash withdrawals. In opinion, the said addition was not sustainable, particular when nothing was brought on record to substantiate that out of the withdrawals an amount to the extent of ₹ 2,00,000/- were used by the wife of the assessee for incurring house hold expenses. In view of the above discussion the addition to the extent of ₹ 40,000/- is sustained and the remaining addition of ₹ 3,54,900/- is deleted.
|