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2018 (11) TMI 506 - AT - Income TaxUnexplained deposits made in the bank accounts of the assessee with HDFC and Kotak Mahindra Bank - claim of the assessee of having redeposited cash from the withdrawals - amount claimed to be received by the assessee from his mother-in-law for payment of the air ticket and hotel booking - Held that:- As mentioned by Ld. CIT(A) in his impugned order, the mother-in-law of the assessee was doing her independent business and was having her own bank account and the alleged payment was made by her to the assessee almost one year after the journey performed. On the same ground, the claim of the assessee of having received a sum of ₹ 49,000/- from his wife for payment of credit cards expenses was not found acceptable by the authorities below. Keeping in view these cogent and convincing reasons given by the authorities below, we are of the view that the source of deposits found to be made in his bank account with HDFC Bank as explained by the assessee to the extent of ₹ 3,06,150/- was rightly rejected by the authorities below. In that view of the matter, we find no justifiable reason to interfere with the impugned order of Ld. CIT(A) confirming the addition made by the AO on this issue and dismiss Ground No.2 of the assessee’s appeal. Deposits found to be made in the bank account of the assessee with Kotak Mahindra Bank -there is no evidence whatsoever brought on record before us in the form of relevant purchase bills, confirmations of the parties etc. to support and substantiate the contention of the Ld. Counsel for the assessee that the said cheques were issued against purchases of the business of the assessee’s wife. Moreover, such cheques claimed to be issued against purchases are very few and the debits appearing in the said bank account appear to be towards personal expenses such as credit cards expenses, club expenses, telephone expenses, schools fee etc. It is also noted that payments are frequently made from the said accounts to one party namely Media Content & Communication Services (India) Pvt. Ltd. for which no explanation whatsoever is offered on behalf of the assessee - no infirmity in the impugned order of Ld.CIT(A) confirming the addition - Decided against assessee.
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