TMI Blog2015 (9) TMI 1042X X X X Extracts X X X X X X X X Extracts X X X X ..... iencies on the part of the assessee as well as Revenue to ascertain the authenticity of the transactions. The assessee has not placed on record Revenue records viz. Jamabandi, Khasra Girdwaries etc. to substantiate the presence of shesham trees, the nature of crop and the extent of crop grown on the agricultural land jointly held by the assessees and their brothers. Thus remit the file back to the Assessing Officer to decide the issue afresh after considering the relevant documents. As far as live stock is concerned, we do not find force in the argument of the ld. AR of the assessees. It is an admitted fact that the assessees have migrated to Pune (Maharashtra) 10-12 years back. It would be highly improbable that in the absence of the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 8,04,500/- in State Bank of India) of the assessee during the period relevant to assessment year in appeal. The assessee was asked to explain the source of cash deposits. The assessee explained the source of cash deposits as sales proceeds of live stock, agriculture produce, sale of trees and old household furniture. Not convinced with the submission of the assessee the Assessing Officer made addition of ₹ 24,10,500/- in the case of assessee in ITA No. 328/PN/2013. The assessee in ITA No. 329/PN/2013 allegedly received the amount of ₹ 30,27,323/- from his father Shri Khelchand Agarwal. It is pertinent to mention here that the assessee in ITA No. 328/PN/2013, Shri Chimanlal Shambhuram Agarwal is the brother of Shri Khe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e disposing of agricultural land. The assessees also sold their live stock. The sale consideration of agricultural land was transferred in the accounts of the respective assessees through bank draft. The consideration from sale of standing crop, shesham trees and live stock were received in cash. The same were deposited in the saving bank accounts of the respective assessees. The ld. AR for the assessee further submitted that the assessee in ITA No. 328/PN/2013 had also sold his old household furniture at Pune for which he received ₹ 1,77,000/-. The authorities below have only accepted the cash received from sale of old household goods, despite the fact that confirmation statements of the persons to whom standing crop, shesham trees a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. The contention of the ld. AR is that the cash amounts credited in the saving bank accounts are sale proceeds of standing crop, shesham trees and live stock. The assessees have allegedly received cash from following sources: ITA No. 328/PN/2013 Sale of crop Sale of shesham trees Sale of live stock Sale of household furniture Total Rs.8,86,603/- Rs.10,20,000/- Rs.5,55,000/- Rs.1,77,000/- Rs.26,38,603/- ITA No. 329/PN/2013 Sale of crop Sale of shesham trees Sale of live stock Sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tention to return to their roots in near future, it would be implausible to maintain live stock in native village. Therefore, we confirm the addition in respect of cash receipts from the sale of live stock. 8. In the facts of the case, we deem it appropriate to remit the file back to the Assessing Officer to decide the issue afresh after considering the relevant documents. The assessee is directed to furnish Revenue records to show the presence of trees and crop on the agricultural land jointly owned by the assessees. The Assessing Officer shall also make an effort to verify authenticity of the documents/statements placed on record by the assessee in support of his claim. The Assessing Officer shall decide this issue afresh after affordi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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