TMI Blog2013 (6) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... due to loss of job may not have explained these sources. Due to circumstances the assessee can be said to be really under stress and in view of the special circumstances, the additional evidence admitted and in view of additional evidence, remit the file to the office of AO for readjudication - appeal filed by assessee allowed for statistical purposes. - ITA No.5185/DEL/ 2011 - - - Dated:- 7-6-2013 - Shri R. P. Tolani And Shri T. S. Kapoor,JJ. For the Petitioner : Shri Rajeev Saxena, Adv For the Respondent : Shri Tarun Seem, Sr. DR. ORDER Per T. S. Kapoor,AM:- This is an appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals)-XXVII, New Delhi dated 10.08.2011 for the assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had deposited twice in her account with Vijaya Bank an amount of Rs.2,50,000/- each on 02.01.2006 and 21.03.2006. The AO further held that it cannot be believed that such a huge amount of Rs.6,01,705/- was kept in cash and at the same time she had deposited Rs.5,00,000/- in cash into her bank account and also gave Rs.6,00,000/- as gift to her husband. In view of the above the AO held that Rs.6,00,000/- was not explainable, therefore, made the addition of such u/s 68 of the Act. 5. As regards Rs.2,00,000/- received from father in law of the assessee. The AO held that the confirmation of a simple paper not supported by gift deed/ affidavit was not sufficient for ascertaining the creditworthiness and genuineness of the transaction and, ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her account with Vijaya Bank on 02.01.2006 and 21.03.2006. As per details furnished by the appellant during the course of assessment proceedings, the cash deposited by him in his saving bank account was on following dates:- Date of deposits Amount Bank 23.04.2005 19,000/- Standard Chartered Bank 28.05.2005 29,000/- -do- 22.05.2005 1,00,000/- -do- 01.05.2005 2,00,000/- -do- 31.12.2005 4,50,000/- ING Vysya Bank 02.02.2005 1,40,000/- -do- 14.12.2006 1,00,000/- -do- 15.12.2006 150,000/- -do- Total cash 10,88,000/- 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property in the immediately preceding year of Rs.42,50,000/- for which he had obtained a loan of Rs.35,00,000/- from ICICI Bank which means he along with his wife had invested an amount of Rs.7,50,000/- in this property in the immediately preceding year from his own source and from his wife's sources. Therefore, whatever savings the appellant may have had, those had already been invested in the property. Therefore, there could hardly be any saving to justify the deposit of Rs.3,67,000/- in cash during the current year in his bank account. Moreover, as no documentary evidence has been filed in this regard, the AO has rightly treated cash deposits to the extent of Rs.3,67,000/- as unexplained income of the appellant and the same therefore, co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wife of assessee on the 10th marriage anniversary. From the order of AO and Ld. CIT (A), we find that assessee had not taken this plea before them. When questioned during proceedings as to why this was not stated before AO or Ld. CIT (A), the Ld. AR replied that neither AO nor CIT (A) asked about it during proceedings before them and assessee being under stress of selling house at a loss and due to loss of job may not have explained these sources. We observe that due to circumstances the assessee can be said to be really under stress and in view of the special circumstances, we admit the additional evidence and in view of additional evidence, we remit the file to the office of AO for readjudication. Assessing officer should verify the addit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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