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2018 (12) TMI 807 - AT - Income TaxUnexplained cash found deposited in the bank account of assessee - Held that:- CIT-A has passed a cryptic order merely stating that the evidences filed by the assessee were not sufficient to explain the large cash deposits made by the assessee without pointing out the insufficiency in the evidences filed. The assessee had demonstrated that he was earning salary alongwith his wife amounting in all to ₹ 2,26,680/- and ₹ 2,23,200/- respectively which had been substantiated by way of salary certificate filed. The assessee had also stated that he was earning lease income from the agricultural land which was in the name of the father of the assessee but who had given the assessee the responsibility of collecting revenue earned from the same. Evidences substantiating the ownership of the land by the father were also filed. The documents evidencing leasing out of the agricultural land was also filed. None of the above documents have been controverted, nor any infirmity found in the same by the CIT(Appeals). In fact, we find that the CIT(Appeals) has not even taken the pain to go through them and has without any basis at all dismissed the above sources as attributable to the cash deposits. Moreover, we also find that the assessee had also filed a cash flow statement explaining the source of various cash deposits in the bank. CIT(Appeals) has erred, therefore, in stating that no cash flow statement was filed by the assessee - Decided in favour of assessee.
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