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Varinder Kumar Sood Versus Commissioner of Income Tax-II, Jalandhar

2015 (5) TMI 588 - PUNJAB & HARYANA HIGH COURT

Unaccounted bank account - addition to income - AO held that it had not been clarified by the assessee as to why he chose to open an account with Axis Bank, Kapurthala alongwith one Lakhbir Singh by giving his own PAN number. Lakhbir Singh was a joint account holder - Tribunal did not accept the assessee's case regarding the source of sum of ₹ 8.75 lacs - Held that:- This is a pure question of fact. It was a question of appreciation of evidence to be decided on a balance of probabilities. .....

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commodate Lakhbir Singh because he did not have PAN card number. Even according to the appellant, Lakhbir Singh was entitled to operate the account. There is no explanation as to why Lakhbir Singh would have been entitled/permitted to operate the account although the amount of ₹ 10 lacs withdrawn from HDFC Bank and alleged to have been deposited with Axis Bank belonged only to the appellant and his wife and in respect whereof Lakhbir Singh had no interest whatsoever. - Decided against asse .....

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Commissioner of Income Tax in respect of the assessment year 2009-10. 2. The appellant has filed this appeal contending that the following substantial questions of law arise for determination of this Court. (i)Whether on facts and on law, the Tribunal was justified to deny the assessee's claim of having utilised the amount drawn on earlier occasion, to explain deposit on a later date, for want of books of account, when the AO had disallowed it on an erroneous assumption that it was not a ca .....

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dence of amount utilised elsewhere, department could not reject a good explanation into no explanation? (iii)Whether the ITAT was justified in ignoring its own earlier decision on identical issue without distinguishing the same on facts? (iv)Whether the impugned order of the ITAT is legally sustainable when it is perverse on facts? 3. We find that there is no question of law much less a substantial question of law that arises in this case. It is purely a matter of appreciation of facts. We are c .....

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r Singh is stated to be an agriculturist and the assessee is a Ayurvedic doctor by profession. No business connection between the two has been established. It is only stated that they knew each other and that the account was opened as Lakhbir Singh himself did not have PAN number. We will assume that a sum of ₹ 8.75 lacs was found to have been deposited in the Axis Bank account on 21.4.2008. When asked for source of income, the assessee contended that he had another account in the HDFC Ban .....

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