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Chimanlal Shambhuram Agarwal, Prakashchand Khelchand Agarwal Versus Income Tax Officer, Ward-8 (1) , Pune

2015 (9) TMI 1042 - ITAT PUNE

Unexplained source of cash deposits - 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 - Held that:- We agree with the observations of the authorities below that the documents furnished by the assessee in support of their contentions are not full proof and the veracity of the documents furnished is not established. We find that the Assessing Officer has also not exercised his jurisdiction to ve .....

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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 assessees anyone will take care of live stock for such a long period in the native village. More so, when the assessees have no intention to .....

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by the assessees against the order of Commissioner of Income Tax (Appeals)-V, Pune dated 07-12-2012 for the assessment year 2009-10 in their respective cases. Since, facts of both the cases are similar, the appeals are taken up together for adjudication. For the sake of convenience the facts are taken from ITA No. 328/PN/2013. 2. The brief facts of the case are: The assessee filed his return of income for the assessment year 2009-10 on 29-03-2010 declaring total income of ₹ 5,67,160/-. The .....

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posits. 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 N .....

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e Tax (Appeals) after examining the facts of the case rejected the contentions of the assessees and confirmed the assessment order. Now, the assessees have come in second appeal before the Tribunal impugning the findings of the Commissioner of Income Tax (Appeals). 3. Shri Pramod Shingte appearing on behalf of the assessee submitted that the assessees were co-owner of agricultural land measuring 178 Kanals and 14 Marla in Village Karsa Doda, Sub-Tehsil Nigadh, Distt. Karnal, Haryana. The assesse .....

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The assessees separately sold standing crop and shesham trees before 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 .....

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rities below have brushed aside all the evidences produced by the assessee. 4. On the other hand Shri B.C. Malakar representing the Department vehemently supported the order of Commissioner of Income Tax (Appeals). The ld. DR submitted that the evidence produced by the assessees in the form of statement of Village's Sarpanch and the statements of the vendees of live stock, shesham trees and crop are self serving and lack authenticity. The ld. DR further contended that the assessee has not be .....

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espective saving bank accounts. In the case of assessee in ITA No. 328/PN/2013 the cash has been deposited on various dates in saving bank accounts maintained with Rupee Co-operative Bank and State Bank of India. In ITA No. 329/PN/2013 the amounts have been credited in the saving bank account of the father of 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 .....

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ck have been sold. 6. We agree with the observations of the authorities below that the documents furnished by the assessee in support of their contentions are not full proof and the veracity of the documents furnished is not established. We find that the Assessing Officer has also not exercised his jurisdiction to verify the genuineness of the documents produced by the assessee. In our considered view there were deficiencies on the part of the assessee as well as Revenue to ascertain the authent .....

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