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2019 (4) TMI 96 - ITAT VISAKHAPATNAMAssessment u/s 143 r.w.s. 153C - additional grounds of assessee that assessment order passed under section 143 r.w.s. 153C is not correct and AO ought to have been passed assessment order under section 153A - Search was not conducted in the case of assessee - HELD THAT:- Warrant was issued in the case of M/s. R.K. Real Estates and not in the name of the assessee. In the assessment order, it has been mentioned that “search & seizure operations were conducted in the case of M/s. R.K. Real Estate Group on 06/10/2006. During the course of search & seizure proceedings some incriminating documents and cash relating to the assessee were found and seized. Hence, notice under section 153C was issued to the assessee on 14/08/2007 for asking him to file returns of income for the six assessment years i.e. 2001-02 to 2006-07.” From the above, it is clear that search was not conducted in the case of assessee, it is only conducted in the case of M/s. R.K. Real Estates, therefore, the Assessing Officer has passed assessment order under section 143(3) r.w.s. 153C of the Act. We find that the order passed by the Assessing Officer is in accordance with law. We find that the AR of the assessee submitting that the assessment order passed by the Assessing Officer under section 143(3) r.w.s. 153C is not correct, is no basis and deserves to be rejected. Addition u/s 68 - ingenuity of bank deposits - HELD THAT:- We find that the assessee except confirmation letters, no relevant details are filed either before the ld. CIT(A) nor before us to show that the creditworthiness of the creditors, genuineness of the transaction, simply filing the details in a tabular form which shows the extent of land and business carried by the assessee is not sufficient to discharge the burden casted upon him to show that the deposits in his bank account are a genuine transactions and the same is received from the creditor who is having a sufficient funds. Under these facts and circumstances of the case, we are of the opinion that the Assessing Officer and the ld. CIT(A) has considered the issue in detail and addition was made under section 68 correctly Addition sale of lorry as unexplained income - why the sale of lorry is not to be treated as his income as he is filing his return of income under section 44AE? - whether it is a case fallen u/s 44AE of the Act or otherwise? - HELD THAT:- The assessee has not filed any details such as, date of purchase of lorry, date of sale of lorry and details of depreciation like, what is the depreciation claimed and upto what date depreciation claimed and total depreciation claimed, therefore we find that the assessee neither filed any details before the Assessing Officer nor before the ld. CIT(A), even before us. Therefore, the argument of the assessee cannot be considered. We find no infirmity in the order passed by the CIT(A). Addition u/s 68 - the assessee's wife has received money from Margadarshi chit fund and the same is deposited in the assessee‟s bank account - HELD THAT:- Assessee has deposited various amounts as in the nature of cash deposits. From the details filed by the assessee and also the order of the ld. CIT(A), it is very clear that the amounts have been withdrawn from the bank. We find that the assessee has failed to establish a fact that the amount received by the assessee on account of Margadarshi chit fund, the very same amount has been received by the assessee and deposited in the bank. Due to cash amount was deposited and immediately withdrawn the same. Therefore, the argument of the ld. counsel for the assessee is rejected. Unexplained deposits - as per assessee the amount is not belonging to him and was received from his niece, who is residing in USA for the purpose of repayment of her educational loan - HELD THAT:- The assessee has not explained anything, simply stated that he has withdrawn and he wanted to repay the very same amount to clear educational loan of his niece. We find that no reasons in the submissions of the assessee. That apart, when parents of the assessee‟s niece are residing at Vijayawada, why this amount was deposited in the account of the assessee, no explanation is offered and therefore we find that the Assessing Officer has rightly made the addition, which was rightly confirmed by the CIT(A) Assessee's appeal dismissed.
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