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TMI Blog2012 (11) TMI 102X X X X Extracts X X X X X X X X Extracts X X X X ..... the ld. CIT(A) was right in allowing relief of unexplained cash credits worth Rs. 30,07,000/- on the ground that deposits made were out of earlier withdrawals without any documentary evidences." 3. ITA No. 16/Chd/2009 - Assessee's appeal - In this appeal the assessee has raised the following ground: "That the ld. CIT(A) Chandigarh is unjustified in upholding the addition of Rs. 1,39,93,000/- made by the Assessing Officer." 4. Brief facts of the case are that during assessment proceedings the Assessing Officer noticed that the assessee is having two bank accounts No. 4134 and Saving bank account No. 7957 of Punjab Sind Bank, Sector 15, Chandigarh. In these accounts certain deposits amounting to Rs. 1,41,33,000/- were made in account No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n summarized by the ld. CIT(A) at page 3 & 4 of the order which is as under: S No. Date Remarks 1. 27.2.2008 Shri P.C. Jawal, Advocate attended the office. Asked for adjournment and case was adjourned to 26.3.2008. 2. 26.3.2008 Shri P.C. Jawal, Advocate attended the office. Asked for adjournment as some information is required from abroad. Asked for longer time and case was adjourned to 24.4.2008. 3. 4.4.2008 Shri P.C. Jawal, Advocate attended. Asked for some longer time as the in to be called from abroad. Adjourned for 18.6.2008. 4. 18.6.2008 Shri P.C. Jawal, Advocate attended and seeks adjournment. Case adjourned to 4.7.2008. This is a last opportunity. 5. 4.7.2008 Shri Harry Rikhy, Advocate attended and seeks adjournment. Case adjo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing deposit of cash out of withdrawals. Some written submissions were filed later on along with affidavit. 6. Before us, the ld. counsel of the assessee mainly relied on the ground of appeal and various documents filed before the ld. CIT(A) and the paper book filed before us. 7. On the other hand, the ld. DR for the revenue mainly relied on the order of the Assessing Officer and submitted that the ld. CIT(A) has correctly rejected the source of gifts, sources from sale of plot and rental income from U.K Flats. He further submitted that the ld. CIT(A) has gone wrong for accepting the source for cash deposits. 8. We have heard the rival submissions carefully. We reproduce the relevant observations of the ld. CIT(A) as under: (i) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et of M/s Monti's Pizzeria Restaurant Inc. does not come to rescue of the assessee or the creditor. The stand of the creditor is that they are having capacity to send the funds as the husband of the creditor is running M/s Monti's Pizzeria Restaurant Inc., a restaurant but the above facts show that there is no entry of any kind of having send money from the books of M/s Monti's Pizzeria Restaurant Inc." (ii) The assessee was again asked on 10.10.2008 to link the particular investment with the particular withdrawal. The assessee filed certain details and relied on some case laws. (iii) The ld. CIT(A) after considering this replies observed at para 13 as under: "The perusal of the reply shows that the assessee could not link a particular w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redits. Even after 2 years the assessee could not discharge his onus. The assessee should not have any grievance that no proper opportunity was given to the assessee." (v) Thereafter the ld. CIT(A) referred to the decision of Hon'ble Punjab & Haryana High Court in case of M/s Blowell Auto Pvt Ltd, ITA No. 430 of 2007 and also relied on the following decisions: CIT V. P. Mohanakala, 291 ITR 278 Sumati Dayal V CIT, 214 ITR 801 Jaspal Ssingh V. CIT, 290 ITR 306 Lal Chand Kalra V CIT, 22 CTR 135 After considering the above decisions the ld. CIT(A) confirmed the action of the Assessing Officer regarding rejection of receipt of gift. Regarding the sale profits from H No. 230, Sector 36A, Chandigarh the following details were extracted by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f earlier withdrawals on 12.10.2004, 18.10.2004 & 4.11.2004 6. 17.11.200 3,07,000 Deposited out of earlier withdrawals 7. 3.12.2004 2,50,000 Deposited out of earlier withdrawals 8. 14.1.2005 2,00,000 Deposited out of earlier withdrawals on 12.01.2005 9. 3.2.2005 2,30,000 Deposited out of Western Union transfer Total 22,67,700 Cash deposited in Saving Bank Account No. 7957 S No Date Amount Narration 1. 10.12.2004 6,50,000 Deposited out of earlier withdrawals 2. 8.1.2004 90,000 Deposited out of earlier withdrawals Total 7,40,000 9. The ld. counsel of the assessee has not been able to improve his case before us because practically no arguments were made to show how the observations and the conclusion made ..... X X X X Extracts X X X X X X X X Extracts X X X X
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