TMI Blog2014 (8) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... rectly analyzed the issue and reduced the addition - CIT(A) finding has not been controverted/dispelled by the Revenue – order of the CIT(A) is upheld – Decided against Revenue. - ITA No. 4126/Del/2012 - - - Dated:- 25-7-2014 - Sh. George George K., JM And Sh. B. C. Meena, AM,JJ. For the Petitioner : Sh. R. B. Arora, Adv. For the Respondent : Sh. S. N. Bhatia, DR ORDER Per George George K., JM: This appeal at the instance of department is directed against CIT(A) order dated 16.5.2012. The relevant assessment year is 2008-09. 2. The grounds raised read as follows:- 1. On the basis of facts and circumstances of the case and in law the Ld. CIT(A) has erred in admitting the additional evidence without giving ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he expenditure of ₹ 14,48,700/- through his credit card and as such there is no justification for making addition under the head credit card expenditure. However, it is seen that the A.O had actually received the AIR information which was actually regarding the cash deposits/transactions of ₹ 14,48,700/- through ABN Amro Bank which the A.O mistakenly took as expenditure under the head credit card. Further, it is seen that the assessee is having a bank account with ABN Amro Bank account in which there was a cash deposit of ₹ 14,53,700/- but it is also seen that the cash deposits are of smaller amounts and on various dates and there are large numbers of transactions of cash deposits and withdrawals. It is also seen that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . It was submitted that the A.I.R information that was received by the department was with reference to cash deposits in Royal Bank of Scotland (the name changed from ABN Amro Bank) and the department had made a mistake in taking deposits of sale proceeds as expenditure for credit card payments. 7. We have heard rival submissions and perused the material on record. The Assessing Officer could have easily realized that there was a prima facie mistake on the part of the Revenue to process the information received through the A.I.R. The A.I.R information was actually regarding the cash deposits of ₹ 14,48,700/- through ABN Amro Bank. We have perused the bank statement of the ABN Amro Bank which is placed at pages 14 to 26 of the paper ..... X X X X Extracts X X X X X X X X Extracts X X X X
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