TMI Blog2015 (12) TMI 965X X X X Extracts X X X X X X X X Extracts X X X X ..... ding with 24/09/2004 definitely proves the unexplained nature of cash deposits which was not related to any business but from some unexplained source. Moreover, these deposits were made immediately before the issue of cheques for either payment to builder or for meeting expenses/payment towards electricity, telephone, insurance payments, etc. and clearly shows that as and when assessee needed to make payments towards the cost of flat and/or towards other expenses, she decided to deposit cash in her accounts. Thus, all these submissions made by the assessee's CA are irrelevant and dismissed. Cash deposits made in the bank account of assessee's daughter Asma A. Sarang and entries in P&L Account, Capital Account and Balance Sheet for financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the times I am on bed rest since August 2013. I received order of CIT(A)-24, Mumbai some where around 15th January 2014 But I just received the envelope containing the order but was not in a position to open and read the same due to above reason. Even till date I am in the same situation and just last week only opened the envelope and forwarded the same to my AR Advocate Sanjaykumar A Thakkar. Further on 24th August, 2014 my husband passed away due to which I was not in a good state of mind. Due to above reasons I was not in a condition to file the appeal within prescribed time. So I hereby apply for condonation of delay in filing the appeal. 4. I heard the ld. DR on this preliminary issue of delay. Having regard to the submissions made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee has claimed that she is running a beauty parlour business and appears to have maintained accounts on cash system of accounting and therefore, cash receipts and payments reflected in the bank account/s and cash receipts and payments not reflected in the bank account/s will form the basis of the determination of assessee's correct income. It appears from the analysis of the debits to the P L Account, Capital Account and other payments reflected in the return of income and accretion to assets account that assessee had incurred expenditure of ₹ 94,152/- on buying materials, and other items, made payment of ₹ 32,372/- to LIC and had withdrawn, ₹ 24,000/-and had invested ₹ 10,000/- (u/s.80CCCO and ₹ 5,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee and the main substantive issues are discussed in the following paragraphs: 4.1.10 Issues regarding CIT(A) invoking section 69 instead of section 68 and issue of notice on 11/09/2007 by the Assessing Officer for the original assessment made vide order dated 14/11/2007 stand settled by the order of the ITAT, Mumbai dated 20/10/2010 and even otherwise these issues do not arise from the assessment order dated 14/11/2011 and therefore, these submissions are not relevant and dismissed. Assessee's contention that assessee and her daughter are two joint owners of the property and are separately assessed to tax and therefore, the source of entire funds of ₹ 5,06,621/- should not be considered in assessee's case only ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee's CA are irrelevant and dismissed. 4.1.11 In this regard, deposits made in bank account of the assessee's daughter Asma A. Sarang and entries in P L Account, Capital Account and Balance Sheet for financial year were also examined critically and it appears that assessee's daughter Asma A. Sarang has also made deposits in cash in similar fashion immediately before payments/debits in her bank account through out the year and also claimed to have carried on similar business of running a beauty parlour and also filed her return of income on the same date. Prima facie, it appears that the cash deposits made in the bank account of assessee's daughter Asma A. Sarang and entries in P L Account, Capital Account and Balance Sheet ..... X X X X Extracts X X X X X X X X Extracts X X X X
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