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TMI Blog2014 (1) TMI 1358X X X X Extracts X X X X X X X X Extracts X X X X ..... re was a search and seizure operations on the premises of the company M/s BPR Infrastructure Pvt. Ltd., and its Directors on 17.9.2008 where the appellant is a working Director. Consequently, the cases of the company and its whole time Directors were notified to Central Circle-1, Hyderabad, but the case of the appellant who is only a working Director remained to be notified. 3.1 During the assessment proceedings, the AO noticed that the assessee had three bank accounts which are as under: i) SB account No. 867810110002627-Bank of India ii) SB Account No. 129510025020748- Andhra Bank, Attapur Branch. iii) SB Account No. 01/00019264-Andhra Bank, Nampally BrancH. 3.2 The AO noted that in the above said banks, there were cash deposits and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to the total income. Aggrieved, the assessee carried the matter in appeal before the CIT(A). 4. After considering the submissions of the assessee, the CIT(A) noted that neither in the assessment order nor in the letter field by smt B. Kalavathy, the details of the bank accounts of various parties whose income has been offered were furnished. It was only as a general statement it was mentioned that the cash deposits appearing in the name of smt Geetha Rani were made out of the cash on hand held by her. Further, the CIT(A) noted that no where the details of the bank accounts and what amounts were taken into account for the purpose of the assessment before the ACIT, Central Circle-1 have been furnished and the very fact that the ACIT, Cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Baddam Kalavathy. On perusal of the assessment order and also the letter given by Smt. Baddam Kalavathy to the AO of the appellant, it was noticed that Sri B. Prakash Reddy, H/o Smt. B Kalavathy, stated that he received additional cash on account of additional works carried out by them which was not disclosed in their books of accounts and he would be offering additional profit on additional works carried out at 30% of the gross receipts on sale of flats which worked out to Rs.1,29,90,000/- for AY 2008-09 and Rs.15,35,000/- for AY 2009-10 in the hands of his wife as additional income and this income so offered was mostly received in cheques and deposited into the accounts of himself and in the account of his son Sri B. Srikanth Reddy, and S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y deposited in the bank in her name is actually belonged to Smt. Baddam Kalavathy and there should be nexus between the receipt of money by Smt. Baddam Kalavathy and passing the same to the assessee. If the nexus between the source of money and passing on the same to the assessee is established, then, it can be believed that the Smt. Baddam Kalavathy has given the impugned amount to the assessee. Being so, we direct the assessee to place necessary evidence to substantiate her claim before the AO. We make it clear that the assessee shall ensure that there cannot be any false entries or false explanation so as to achieve the object of the assessee. Accordingly, we remit the entire issue to the file of the AO for fresh consideration. 9. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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