TMI Blog2015 (6) TMI 595X X X X Extracts X X X X X X X X Extracts X X X X ..... urce of the source. Be that as it may, we have already held that the assessee’s creditor and his family had sufficient means from agricultural income so as to lend the impugned sums amounting to ₹ 3.3 lac deposited in the assessee’s account through cheque payments. The assessee’s arguments are accepted. - Decided in favour of assessee. - ITA No.3218/Ahd/2011 - - - Dated:- 9-6-2015 - Shri Pramod Kumar and Shri S.S. Godara,JJ. For the Petitioner: Shri Dinesh Singh, Sr.D.R. For the Respondent: Shri M.J. Shah, A.R. ORDER PER SHRI S.S. GODARA, JUDICIAL MEMBER This assessee s appeal for A.Y.2008-09, arises from order of the CIT(A)-I Surat dated 26.09.2011 passed in case no.CASI/ 205/11-12, upholding the Assessing Officer s action adding unexplained cash credits of ₹ 3.30 lac u/s.68 of the Income Tax, in proceedings u/s.143(3) of the Income Tax Act in short the Act . 2. The assessee-individual is a doctor. He filed his return on 26th March, 2009 admitting income of ₹ 2,79,840/-. The Assessing Officer in the course of scrutiny noticed a sum of ₹ 3.3 lac deposited by way of three separate cheques of ₹ 1.10 lac each from the savings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheques for loan amount of ₹ 3,30,000/- each of ₹ 110000/-. On verification of bank statement it is found that one cheque of ₹ 110000/- has been issued by Mukesh Patel in the name of Mrs. Ketki. The said cheque also deposited by you in your bank account and shown as unsecured loan from Mukesh Patel. This transaction is not allowed to you shown unsecured loan from Mukesh Patel. Please produce all register which are required to maintain as per provision of health department. Please produce register regarding Outdoor patient and Indoor patient, and also produce the consent letter which was given by the indoor patient for operation purpose. 2. Please note that if you fail to comply with this letter on the date of hearing , then you are hereby show cause .... (i) why the amount shown under the head of unsecured loans should not treated as unexplained credit in books of account as unsecured loans not explain by you? 3. This notice may be treated as notice u/s. 142(1) of the I.T. Act, and if you are failed to comply the said notice, then you are hereby show cause why penalty of ₹ 10,000/- should not be imposed for non-compliance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee has managed his undisclosed/unaccounted income for receiving unsecured loan from his friend Shri Mukesh T. Patel. To prove the same, books of accounts of the assessee was thoroughly verified on 29.11.2010 and it is noticed that the assessee has suppressed his 'sonography income' as well as suppressed his operation/surgery income also. During the course of verification of sonography register which is required to be maintained compulsorily by the hospital for verification of health department and discrepancy found with the register maintained by the assessee, patients were shown less in comparison to the sonography register which is required to maintained compulsorily by the hospital. Further on verification of the consent letters which were signed by the relatives of the patients it is noticed that the assessee was not shown total receipt from his operation activity i.e., in some cases the same were not accounted for by the assessee in his books of accounts. The discrepancy was found during the course of verification of books of accounts and confronted by the assessee himself. Therefore clear that the assessee has suppressed his income by way of not disclos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t properly considered the detail explanation given with the documentary evidences to support the fact that the loan received by the appellant from Shri Mukesh T. Patel is a genuine transactions of loan vide appellants letter dated 09.09.2010 and 29.11.2010. The appellant had received the three cheques of ₹ 1,10,000/-each from Shri Mukesh T. Patel, who is an agriculturist by business. The appellant has given the following documentary evidences to the LAO during the course of assessment proceedings. (i) Photostat of copy Election Card to prove the identity (ii) Copies of Bank passbook showing the debit entries of three cheques of ₹ 1,10,000/- each. (iii) Copies of Form 7 12 and 8 A showing the land holding by Shri Mukesh T. Patel. (iv) Photostat copy of certificate issued by Shree Kamrej Vibhag Sahakari Khand Udhyog Ltd as a proof of agriculture income of Shri Mukesh T. Patel. (v) Copy of ledger accounts from appellants book duly signed by Shri Mukesh T. Patel confirming the above loan of ₹ 3,30,000/- Shri Mukesh T. Patel had once again filed the following details confirming the said loan of ₹ 3,30,000/- given to Dr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oan was given out of his agriculture income. He has also said that the agriculture income was received by him from various co-operatives societies and said income was received either by cash or by cheques. He has also stated that, he is owning 55 to 60 Vingha of agriculture land. We would like to draw yours honor's kind attention towards Q. 10 put by the LAO. In the said question the LAO has asked that, when was the cash was given by Dr. Gaurang to deposit in your account for giving the said loan . In reply to the said question Shri Mukesh T. Patel had stated that Dr. Gaurang K. Shah has not given money (Cash) to him. In reply to Q. No. 5 and 13 of LAO, Shri Mukesh T. Patel had stated that, he has received the loan back in installment. He has assured the LAO to file the details of refund of loan before 07.12.2010. As per the assurance, Shri Mukesh T. Patel had submitted the details of repayment of loan by Dr. Gaurang K. Shah by letter dated 06.12.2010 received by the LAO office on 06.12.2010 vide acknowledgment No. 2510026709 (Photostat copy of letter is enclosed). He has also attached the Photostat copies of Membership Passbook issued by the Sugar Fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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