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2015 (11) TMI 865 - ITAT LUCKNOW

2015 (11) TMI 865 - ITAT LUCKNOW - TMI - Addition on account of unexplained investment in construction of building - CIT(A) deleted the addition - Held that:- Assessing Officer has noted that the assessee has maintained two sets of audited books of account signed by different Auditors, but in any case balance sheet submitted to the Revenue authorities disclosed investment in the building at ₹ 1,63,70,624/-. Therefore, the figure given in other books of account should not be accepted. Since .....

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irm the same.

Addition on surrendered income - Held that:- Undisputedly Shri Sunil Kumar Jhunjhunwala has made a surrender of ₹ 1 crore on behalf of four office bearers of the assessee-society and respective office bearers have also declared this amount in their individual returns of income. From a careful perusal of the statement of Shri Sunil Kumar Jhunjhunwala of the compilation of the assessee, we find that in the entire statement he has explained the nature of activities of .....

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nt and treated the surrender of ₹ 1 crore in the hands of the assessee; whereas it was made on behalf of the office bearers. Decided in favour of assessee.

Undisclosed investment in the purchase of land - Held that:- the benefit of surrender statement in the hands of the individuals cannot be given to the assessee in order to explain the source of investment. In the light of these facts, we are of the view that the ld. CIT(A) has wrongly given the benefit of surrender statement .....

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f the same can be made in the hands of the assessee. In that situation, no benefit of surrender statement can be given to the assessee in order to cover up the undisclosed investment in the land. We are, therefore, of the view that since the assessee has failed to explain the source of investment in the land of ₹ 40,26,460/-, the Assessing Officer has rightly made the addition of the same. We, therefore, set aside the order of the ld. CIT(A) on this issue and restore that of the Assessing .....

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ailable before him by making necessary verification. We are, therefore, of the view that in the interest of justice, the matter should be set aside to the Assessing Officer with a direction to re-adjudicate the issue in the light of evidence filed before the ld. CIT(A). We accordingly set aside the order of the ld. CIT(A) and restore the matter to the file of the Assessing Officer with a direction to re-adjudicate the issue afresh after affording an opportunity of being heard to the assessee. Th .....

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as to how the imprest amount was exhausted and it is for the assessee to furnish complete details in this regard before the Assessing Officer. But he did not do the same. Before the ld. CIT(A), the assessee tried to furnish some details and the ld. CIT(A) has taken cognizance of Annexure B-1 but he has not made any reference to Annexure B-15. Copy of Annexure B-1 is available at page 2 of the compilation of the assessee, in which total amount given to Shri. Sunil Kumar Jhunjhunwala is ₹ 4, .....

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the assessee has not furnished complete details before the Assessing Officer despite various opportunities afforded to it and the Assessing Officer was forced to conclude that the deposits in the bank are unexplained cash deposits. If the deposits are made out of cash receipts from the students, there could have been proper record available with the assessee. But during the assessment proceedings, he has not furnished details with regard to the deposits in the bank account. Moreover, we also fi .....

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vidence. We, therefore, set aside the order of the ld. CIT(A) and restore the matter to the file of the Assessing Officer with a direction to readjudicate the issue afresh in the light of evidence filed before the ld. CIT(A).

Disallowance exemption under section 11 - Held that:- The conclusive finding with with regard to exemption under section 11 of the Act and treatment of surplus depends upon the conclusion on the other issues on which the matter is restored to the Assessing Offic .....

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r The Respondent: Shri. K.R. Rastogi, C.A. ORDER PER SUNIL KUMAR YADAV: This appeal is preferred by the Revenue against the order of the ld. CIT(A), inter alia, on the following grounds:- 1. The CIT(A) has erred in law and on facts of the case in deleting the addition made by the A.O. of ₹ 64,32,005/- u/s 69B of the Income-tax Act, 1961. The AO relied on the valuation report of DVO in arriving at this figure. The CIT (A) failed to appreciate that the account's of the assessee were unre .....

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based on statement of Sri Sunil Jhunjhunwala, Secretary of the Institution. He failed to appreciate that the surrendered amount of Rs. One Crores as admitted by the secretary is the undisclosed income of the assessee society which was surveyed. The individuals were not surveyed and therefore, there was no reason for them to make any disclosure. The CIT (A) failed to appreciate that on the basis of impended documents there was sufficient evidence that the society was taking donations at the time .....

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rred in law and on facts in deleting the additions made by the A.O. of ₹ 58,65,817/-. He failed to appreciate that this sum was found credited to Madhu Agarwal (Kit & Uniform) A/c in the impounded documents. This account was not found accounted for in the regular books of account and no evidence was found as to how it was utilized. The CIT (A) has erred in deleting the addition stating that proper accounts have been maintained. 5. The CIT (A) has erred in law and on facts in deleting t .....

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. 7. The CIT(A) has erred in law and on facts in allowing the exemption u/s 11 of the Income-tax Act and in deleting the addition of ₹ 81,18,632/-. He failed to appreciate that disclosure of ₹ 1 Crore made by various office bearers/their family members is out of the funds of the assessee diverted into their hands attracting the provisions of Sec. 13 (l)(c)(ii). Similarly, the amount of ₹ 58,65,817/- appearing in Madhu Agarwal (Kit & Uniform) A/s is also nothing but diversio .....

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ey under section 133A of the Income-tax Act, 1961 (hereinafter called in short the Act"), the investment in construction of building in the impugned assessment year was of ₹ 1,07,47,695/-. Whereas the DVO has estimated the investment during the year under consideration at ₹ 1,71,79,700/-. The Assessing Officer accordingly made the addition of the difference of ₹ 64,32,005/- as unexplained investment in construction of building. 3. The assessee preferred an appeal before th .....

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ent in construction of building was shown at ₹ 1,07,47,695/- in the hard disc of the computer and the books of account were also written upto 20.3.2009. But in the final account, the assessee has claimed investment at ₹ 1,63,70,624/-. Therefore, the difference was nominal and the ld. CIT(A) accordingly deleted the addition. The relevant observations of the ld. CIT(A) in this regard are extracted hereunder for the sake of reference:- 5(7)(ii) I find that the AO considered the amount o .....

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he difference of ₹ 56,22,929/- for which bills and vouchers were produced during appellate proceedings on which remand report was also called for from the AO is as under Building Rs. 20,28,742/- Site Labour expenses ₹ 18,47,516/- Electricity Installation ₹ 16,74,747/- Transportation charges ₹ 71,925/- ₹ 56,22.9297- 5(7)(iii) I find that the objection of the AO that these expenses were not claimed during the course of assessment proceedings do not convey the reality .....

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e AO does not call for it from the assessee. 5(7)(iv) I find that expenditure was incurred after the date of survey on 20.03.2009 and till 31.03.2009. Such expenses were settled through account payee cheques, in Cash and through transfer entries in account of parties to whom advances were made and bill of material supplied was received later. The AO has failed to consider the bills of purchase of building material, furniture and fixtures, electrical installation and transport charges inspite of .....

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consequence once the cost of construction is recorded in the books of accounts. 5(7)(v) I am also inclined to agree with the contention of the appellant that while making the valuation the DVO has considered the rates prescribed for the CPWD whereas as per the decision of the jurisdictional High Court in the case of CIT Vs. Raj Kumar, (1990)182 ITR 436 (Allahabad), Hon'ble Rajasthan High court in the case of CIT Vs. Smt. Prem Kumari Murdia, (2008) 296 ITR 508(Raj.) and CIT Vs. Dinesh Talwar .....

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8,09,376/- is 4.7% of the investment estimated by the DVO. The Hon'ble ITAT, Lucknow Bench in the case of DCIT V. Janki Prasad Garden Enclave (P) Ltd. in ITA No. 54/AII/1999 had decided vide order dated 28-2-2003 that, if difference is less than 10% in valuation made by the valuation expert and amount of investment shown by the assessee, then such difference is to be ignored. Similar proposition has been reiterated in ITO Vs Smt. Pramila Agarwal: (2004) 88 TTJ Luck 913. Similar findings wer .....

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e when considered is less than 10% which is to be ignored in view of the decisions cited supra. The addition of ₹ 64,32,005/- made by the Assessing Officer under section 69B of the Act is directed to be deleted. The appellant gets consequential relief and the grounds of appeal numbers 4 to 4.2 are allowed. 5. Aggrieved, the Revenue has preferred an appeal before the Tribunal and has placed heavy reliance upon the order of the Assessing Officer; whereas the ld. counsel for the assessee, bes .....

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he figure of investment at ₹ 1,07,47,695/- on the basis of any document found during the course of survey. 6. Having carefully examined the orders of the lower authorities in the light of the rival submissions, we find that the Assessing Officer has noted that the assessee has maintained two sets of audited books of account signed by different Auditors, but in any case balance sheet submitted to the Revenue authorities disclosed investment in the building at ₹ 1,63,70,624/-. Therefor .....

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find no infirmity in the order of the ld. CIT(A) on this issue and we confirm the same. 7. Apropos ground No.2, it is noticed that during the course of assessment proceedings, when one Shri. Sunil Jhunjhunwala, Secretary of the society was cornered with the discrepancy in the maintenance of books of account, he surrendered a sum of ₹ 1 crore in the hands of various persons i.e. Ms. Madhu Agarwal, Shri. Shri. Sunil Kumar Jhunjhunwala, Shri. Manas Kumar and Shri. Anil Kumar Jhunjhunwala. Bu .....

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ld. CIT(A) re-examined the issue in the light of assessee s contentions and the statement recorded by the Assessing Officer and he was of the view that the surrender was made in the hands of the office bearers of the society and not in the case of the assessee. Therefore, if any addition is required, that can only be made in the hands of the office bearers and not in the hands of the assesseesociety. Moreover, the office bearers of the society has already declared this amount in the return of in .....

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Sunil Jhunjhunwala was recorded on 26.03.2009. The relevant extract leading to surrender on an income of ₹ 1,00,00,000/- by Shri Sunil Jhunjhunwala is as under - 6(5)(ii) It is evident from the above statement that Shri Sunil Jhunjhunwala an office bearer of the appellant -society has made the offer of surrender of undisclosed income on his behalf and including 3 other office bearers. There is nothing in the statement to suggest that the surrender of income related to the undisclosed incom .....

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aid. 3. ₹ 17,00,000/- in the case of Shri Manas Kumar, assessed to tax vide PAN No. AMZPK5022D in assessment year 2009-2010 and paid due tax. 4. ₹ 24,00,000/- in the case of Shri Anil Kumar Jhunjhunwala, assessed to tax vide PAN No. AAQPJ0340E and paid due tax of ₹ 8,20,000/-. 6(6) I find that the AO has incorrectly linked the voluntary contributions to the surrender of income by Shri Sunil Jhunjhunwala. The voluntary contributions referred by the AO at paragraph 15 and 16 of t .....

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. Further, the AO in his remand report has stated that the statement of Shri Sunil Jhunjhunwala as an afterthought and concocted story. I am unable to decipher how it could be so. The statement of Shri Sunil Jhunjhunwala was recorded by the Department and in the statement so recorded Shri Sunil Jhunjhunwala made a voluntary disclosure of undisclosed income of ₹ 1,00,00,000/- jointly on behalf of 4 office bearers of the appellant-society. The disclosure has no reference to the income of the .....

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nt-society. The office bearers of the appellant-society accepted the surrender made by Shri Sunil Jhunjhunwala and have shown the same in their return of income as mentioned above. The addition of ₹ 1,00,00,000/- made by the AO based on statement of Shri Sunil Jhunjhunwala is not justified as the surrender was made in individual cases and not the case of the appellant. The addition of ₹ 1,00,00,000/- made by the AO is deleted giving relief to the appellant. The ground of appeal numbe .....

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gorically stated that he is making a surrender of ₹ 1 crore in the account of himself and three more persons as undisclosed income for a period of 3 to 4 years and tax thereon would be paid by 30.3.2009. The statement was also recorded by the ld. CIT(A) in his order. The ld. counsel for the assessee has further contended that in the entire statement, Shri Sunil Kumar Jhunjhunwala has explained the activities of the assessee and its office bearers. Therefore, surrender made in the name of t .....

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the light of the rival submissions, we find that undisputedly Shri Sunil Kumar Jhunjhunwala has made a surrender of ₹ 1 crore on behalf of four office bearers of the assessee-society and respective office bearers have also declared this amount in their individual returns of income. From a careful perusal of the statement of Shri Sunil Kumar Jhunjhunwala appearing at pages 20 to 24 of the compilation of the assessee, we find that in the entire statement he has explained the nature of activ .....

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statement and treated the surrender of ₹ 1 crore in the hands of the assessee; whereas it was made on behalf of the office bearers. In the light of these facts, we are of the view that the ld. CIT(A) has properly adjudicated the issue and we find no infirmity therein. Accordingly we confirm the same. 11. Apropos ground No.3, during the course of assessment proceedings, the assessee was asked to explain the nature of transactions as reflected at page 68 of the Annexure B-3 of the impounded .....

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seek this information. The Assessing Officer examined the balance sheet and noticed that total investment in land was shown at ₹ 37,11,540/-; whereas as per document placed at page 68 of the compilation of the assessee, the actual investment in the land was ₹ 77,38,000/-. The details of land purchased and the undisclosed investment in land worked out by the Assessing Officer is as under:- Land Name of Vendors Total transaction amount including both disclosed & undisclosed invest .....

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32,50,000/- ₹ 71,15,.000/- (c) That now the details of total disclosed & undisclosed amounts paid to vendors both of land A & B including cost of stamp papers, registration expenses, lawyer's fee, brokerage etc is given below: (d) That now the working of investment not disclosed by the assessee is given below: ₹ 77,38,0007- Total disclosed & undisclosed amount Invested by the society in acquisition of Lands A&B including cost of Stamp Papers, registration expense .....

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ailed in para 19(d), in purchase of the said lands, over and above their disclosed sources out of undisclosed income of the society either from donations taken from the students at the time of their admissions or from other undisclosed sources of income best known to the assessee which is totally against the spirit & object of a charitable society, That the figures as stated in the said page 68 along with the narrations stated therein hence the concealment of the assessee stands proved. That .....

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society as investment made in acquisition of lands out of undisclosed sources of income which are nothing but donations taken from students which is against the spirit & objects of a Charitable society (Penalty proceedings u/s 271(1)(c) of the I.T. Act, 1961 is initiated). 12. Aggrieved, the assessee preferred an appeal before the ld. CIT(A) with the submission that in order to buy peace, the office bearers of the assessee-society has made a surrender of ₹ 1 crore keeping in mind the .....

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f the assessee that surrender made in the hands of individual, would cover up the unexplained investment made by the society, cannot be entertained. The ld. CIT(A), however, has given a credit of the surrender statement of Shri Sunil Kumar Jhunjhunwala on behalf of the office bearers of the society and deleted the addition. 13. Now the Revenue is in appeal before the Tribunal with the submission that the assessee cannot blow hot and cold in the same breath. If the surrender is made in the hands .....

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ilable with the office bearers on account of surrender of ₹ 1 crore, therefore, the same can be invested in purchase of land though in the name of the society. The office bearers of the society and assessee society cannot be treated differently, as the assessee-society is being governed by the office bearers of the society. 15. Having carefully examined the orders of the lower authorities and material available on record in the light of the rival submissions, we find that in the surrender .....

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bearers. Undisputedly, the assessee-society and the office bearers are different assessees. They cannot be treated to be as one, as the addition was made separately in the hands of the office bearers on account of their surrender statement, therefore, the income generated on account of surrender was the income of the individuals and it has no relation with the assesseesociety. It is also an undisputed fact that the assessee-society has made unexplained investment in the land, for which onus is u .....

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Therefore, the benefit of surrender statement in the hands of the individuals cannot be given to the assessee in order to explain the source of investment. In the light of these facts, we are of the view that the ld. CIT(A) has wrongly given the benefit of surrender statement in the hands of individual, to the assessee in order to cover up the unexplained investment. The assessee-society cannot blow hot and cold in the same breath. If the assessee wants to get the benefit of surrender statement .....

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iew that since the assessee has failed to explain the source of investment in the land of ₹ 40,26,460/-, the Assessing Officer has rightly made the addition of the same. We, therefore, set aside the order of the ld. CIT(A) on this issue and restore that of the Assessing Officer. 16. Apropos ground No.4, during the course of assessment proceedings, the Assessing Officer has noticed from the ledger account found during the course of survey that in the name of Madhu Agarwal (Kit & Uniform .....

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the name of Madhu Agarwal instead of crediting it in the sale account. She remained silent on the part of system of accounting of the said funds and these facts were confronted to Shri. Sunil Jhunjhunwala, Secretary of the society and in response thereto he showed ignorance and stated that he had no knowledge of its accounting in this head. Though he has stated that the Accountant, Shri. Jitendra Singh will return back to work and explain but Shri. Jitendra Singh never appeared before the Asses .....

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ing but unexplained funds in the shape of donations received from the students in the name of kit and uniform and were diverted through Madhu Agarwal for her and personal use of the other family members who are also office bearers of the society. He accordingly invoked the provisions of section 13(1)(c)(ii) of the Act and denied exemption under section 11 of the Act and made addition of the said amount. 17. The assessee preferred an appeal before the ld. CIT(A) with the submission that the said .....

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The Assessing Officer further commented on the contention of the assessee that the Assessing Officer has considered only receipts and did not consider the payment that no such claim of payment was made at the time of assessment proceedings and now this claim is clearly an afterthought. The ld. CIT(A) again called comments from the assessee on this remand report and thereafter examined the claim of the assessee and being convinced with the explanations of the assessee, he deleted the addition. 1 .....

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of ₹ 58.65 lakhs was credited in the name of Madhu Agarwal and corresponding entry with regard to the expenditure are not available. If Madhu Agarwal has purchased these kit and uniform for students, there should be proper bills and vouchers in the record in support thereof, but the assessee has not furnished all these evidence before the Assessing Officer during the course of assessment proceedings. Whatever bills and vouchers were referred to by the ld. CIT(A) while deleting the addition .....

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he Assessing Officer during the remand proceedings, therefore, it cannot be said that the books of account and bills and vouchers are not available with the Assessing Officer for verification. 20. Having carefully examined the orders of the lower authorities in the light of the rival submissions, we find that the Assessing Officer has categorically recorded in his order that despite various opportunities, neither Madhu Agarwal nor Shri. Sunil Jhunjhunwala, Secretary of the society has explained .....

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ings. In the remand proceedings, the ld. CIT(A) has supplied written submissions filed by the assessee to the Assessing Officer for his comments and in the remand report, the Assessing Officer has again sought complete details furnished by the assessee. 21. Having carefully perused the details available on record, we find that the assessee has not filed complete details before the Assessing Officer during the course of assessment proceedings to justify the credit entry found in the name of Madhu .....

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e matter to the file of the Assessing Officer with a direction to re-adjudicate the issue afresh after affording an opportunity of being heard to the assessee. The assessee is also directed to place all relevant evidence to justify the credit entries in the name of Madhu Agarwal along with bills and vouchers for expenses incurred in purchase of uniform kits, etc for students. 22. Apropos ground No.5, the facts in brief borne from the record are that during the course of assessment proceedings, t .....

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the said debit vouchers in Annexure B-1 & B-15 are mostly cash payments made to Shri. Sunil Jhunjhunwala, Secretary of the society or to Sunil Sir through the said debit vouchers, on which no particulars are written. The correct amount of the said debit vouchers, etc is almost of ₹ 14,65,480/- and the said debit voucher did not corroborate with the books of account and other financial records. The Assessing Officer accordingly held that the said funds totaling ₹ 14,65,480/- have .....

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Kumar Jhunjhunwala for making expenses and purchases on behalf of the society. The relevant imprest account was titled as Suneel Kumar Imprest . It was further contended that out of the imprest account, expenses were incurred for the purpose of the society by Shri. Sunil Kumar Jhunjhunwala and not for the personal expenses of the office bearers. The comments of the Assessing Officer on the written submissions were called and in response thereto, it was stated by the Assessing Officer that durin .....

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ities to the assessee. The ld. CIT(A) again called the comments of the assessee on the report submitted by the Assessing Officer and in response thereto the assessee has contended that in the remand proceedings the Assessing Officer has supplied copies of Annexure B-1 & B-15 and from a perusal of these Annexure, the imprest cash for different expenditures was to the tune of ₹ 4,92,830/- and there was cash imprest for expenses of ₹ 14,65,480/-. The ld. CIT(A) re-examined the claim .....

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nd vouchers of expenditure incurred out of it. Since the imprest account was not correlated with the expenditure incurred, the Assessing Officer has rightly made the addition with respect to the imprest amount of ₹ 14,65,480/-. The ld. D.R. has further invited our attention to the copy of the seized document, which is available at page 2 of the compilation of the assessee with the submission that it may be Annexure B-1 in which total amount was given under the imprest account at ₹ 4, .....

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the Assessing Officer be restored. 25. Having carefully examined the orders of the lower authorities in the light of the rival submissions, we find that before the Assessing Officer the assessee has not made any effort to reconcile the statement. No doubt, if any amount is given to Shri. Sunil Kumar Jhunjhunwala in the imprest account, there should be details of its expenditure as to how the imprest amount was exhausted and it is for the assessee to furnish complete details in this regard befor .....

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ailable therein. In the light of these facts, we are of the view that the ld. CIT(A) has not properly examined the issue in the light of both the documents. We are, however, of the view that in the interest of justice, the matter should be restored back to the Assessing Officer to re-examine the claim of the assessee in the light of Annexure B-1 & B-15. If the amount is given to Shri. Sunil Kumar Jhunjhunwala under the impress account, it is for the assessee to explain the same along with bi .....

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eflected therein along with documentary evidence, etc. But the assessee remained silent and at last he simply stated that all the entries shown in the AIR are recorded in the books of account and may be verified. Thereafter, the Assessing Officer has again asked the assessee that the said entries as reflected in the bank account do not reconcile with the books of the assessee. He was required to correlate entries from the books of account, but the assessee failed to prove the authenticity and ge .....

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he written submissions. The Assessing Officer has furnished detailed reply to the written submissions which are recorded in the order of the ld. CIT(A) in para 10(3). Since the Assessing Officer has rebutted the contentions of the assessee, we feel it proper to reproduce the same as under:- The first objection of the assessee is that the details of AIR,CIB information were not provided to it in order to reconcile with the books of accounts. Thus according to assessee the addition is contrary to .....

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in / reconcile the transactions / payments / receipts reflected in information of CIB/ITS with documentary proof." It is also notice that the assessee has furnished reply to these queries vide reply dated 23.12.2011 which is as under. "All the entries shown in AIR are recorded in the books of accounts and may be verified by you" It is thus established that the assessee was provided with the AIR information and it failed to give a proper reply, as mentioned in the assessment order. .....

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s made available to on 01.10.2012 in response the assessee has submitted a rely dated 05.10.2012 a copy of which is being enclosed with this report A perusal of reply reveals that the assessee has submitted that during the year cash fee form the students was received. In this regard, if is submitted that in the written submission dated 18.04.2012 submitted by assessee before your good self the assessee has furnished details of cash receipts and deposits in bank. With reference of Department of P .....

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ed. The total deposits in bank accounts are much more than the AIR/CIB information and these include cash as well as cheque deposit entries. It has also not been clarified by the assessee as to how much amount has been received by it otherwise than by cash and how the same is accounted for. The assessee has submitted date wise and name wise details of cash fee received from students. The supporting evidences like fee receipts have also been produced for verification to substantiate the claim. Co .....

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to how the fee is received throughout the year Moreover, the examination of details reveals that there are cutting and over writings at many places date and amount. All the fee receipts do not contain any signature or acknowledgement. These have all been prepared by the assessee to justify the cash deposit in various bank accounts. There are significant variations in the amounts received from students of the same year / class, which has not been explained. As such the assessee's arguments on .....

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re the ld. CIT(A). The ld. CIT(A) re-examined the claim of the assessee and being convinced with the explanations of the assessee, he deleted the addition. 29. Aggrieved, the Revenue is in appeal before the Tribunal with the submission that there was a regular cash deposits in the bank account throughout the year whereas fees from the students were received quarterly and not throughout the year. If the amount was deposited out of cash received from the students, there should be a corresponding e .....

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er, the assessee itself has submitted that there is a typographical error in figures given at page 35 before the ld. CIT(A). The ld. D.R. has further contended that since the issue was not examined properly by the ld. CIT(A), the matter may be restored to the Assessing Officer for its proper adjudication. 30. The ld. counsel for the assessee, besides placing reliance upon the order of the ld. CIT(A), has submitted that the assessee has furnished complete details before the ld. CIT(A) who has pro .....

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If the deposits are made out of cash receipts from the students, there could have been proper record available with the assessee. But during the assessment proceedings, he has not furnished details with regard to the deposits in the bank account. Moreover, we also find force in the contention of the Assessing Officer that throughout the year fees from the students cannot be collected. Generally fees from the students are collected quarterly. But in the instant case, there are regular cash deposi .....

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direct the assessee to place all the relevant evidence in order to explain the source of deposits in the bank. Accordingly the matter is restored to the Assessing Officer after setting aside the order of the ld. CIT(A). 32. Apropos ground No.7, it is noticed that the Assessing Officer has disallowed exemption under section 11 of the Act having made disallowances under different heads and concluded that funds were not utilized for charitable purposes which is against the spirit and objects of th .....

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