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2016 (5) TMI 346 - ITAT JAIPUR

2016 (5) TMI 346 - ITAT JAIPUR - TMI - Addition of cash found at the time of search - Held that:- The Assessing Officer of Smt. Lalita Devi has scrutinized the cash availability U/s 143(3) of the Act and same cash has been accepted by the Assessing Officer. Further it is also undisputed fact that the husband of Smt. Lalita Devi Late Vallav Das Parwal was running a shop of wholesale of Ghee and oil etc. in the name of Maheshwari Store, Chandpole Bazar, Jaipur, who had expired on 19/08/2007. There .....

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M For The Assessee : Shri G.G. Mundra (CA) For The Revenue : Shri D.S. Kothari (CIT) ORDER PER T.R. MEENA, A.M. This is an appeal filed by the assessee against the order dated 27/12/2012 of the learned C.I.T.(A) (Central), Jaipur for A.Y. 2008-09. The effective grounds of appeal are as under:- 1. That on the facts and in the circumstances of the case the ld CIT(A) is wrong, unjust and has erred in law in upholding addition of ₹ 2,00,000/- made to the income of the appellant by the Assessin .....

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34C of the Income Tax Act, 1961 (in short the Act). The ld Assessing Officer observed that the assessee is having income from salary, house property, business and other sources. A search and seizure operation U/s 132(1) of the Act was carried out on 14/3/2008 at the business and residential premises of the assessee. During the course of search and seizure operation at 376, Nahargarh Road, Chandpole Bazar, Jaipur, cash and books of accounts was found and seized. The case scrutinized U/s 143(3) of .....

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cash totaling ₹ 99,520/- an amount of ₹ 75,000/- belongs to him and are not entered in regular books of account, which was out of undisclosed source and had surrendered total amount of ₹ 6,50,000/- on account of undisclosed cash. However, in the return of income, he disclosed surrendered amount ₹ 5,30,000/- as additional income for the current year. The Assessing Officer gave reasonable opportunity of being heard on this issue, it was submitted by the assessee before the .....

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of income at ₹ 5.30 lacs and the assessee paid the due tax. After considering the assessee s submission, the ld Assessing Officer held that the cash of ₹ 2,00,000/- has been received from his mother Smt. Lalita Devi in four installments of ₹ 50,000/- each on 10/09/2007, 15/07/2007, 18/09/2007 and 20/09/2007. The assessee has not filed any evidence and also not explained the source of cash received from his mother on these dates. Therefore, he made addition of ₹ 20 lacs in .....

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It may be noted that such submission of receipt of cash from Smt. Lalita Devi was never made during the course of search. In fact cash amounting to ₹ 99,520/- was found from the possession of Smt. Lalita Devi and out of such cash she admitted that cash amounting to ₹ 75,000/- pertain to the assessee. Further no such cash books was found and seized during the course of search. Moreover the alleged cash of ₹ 2,00,000/- is stated to have been received during the month of September .....

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ash with Smt. Lalita Devi from the amount received from her husband but even such facts were not raised before the Assessing Officer. Thus, he confirmed the addition. On charging of interest, the ld CIT(A) has held that it is consequential in nature, therefore, he directed to the Assessing Officer to recomputed the interest U/s 234C of the Act after giving an effect to the appellate order. 4. Now the assessee is in appeal before us. The ld AR of the assessee has submitted that the father of the .....

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eceived from debtors and payments made to creditors. He has drawn our attention on page No. 13 to 16 of the paper book, which revealed that Smt. Lalita Devi received ₹ 2,80,222/- (Rs. 2,50,000/- on 31/8/2007 and ₹ 30,222.02 on 31/3/2008) in cash from the firm and ₹ 10,690.18 personal cash from husband and balance of capital of Shri Ballav Das Parwal amounting to ₹ 5,70,703.87. These entries of receipts are recorded in the books of account of Smt. Lalita Devi and was shown .....

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h is without any time gap and assessee recorded the same in his cash book. The copy of cash book of assessee is also enclosed in support of contention of cash balance of ₹ 2.05 lacs as on date of search. In the statement in course of search Smt. Lalita Devi clearly stated that her cash transactions are looked into by his son Hari Narain Parwal who will explain them (P. B. Page 17 - 18). Thus cash received by assessee from his mother Smt. Lalita Devi is proved with evidence and, therefore c .....

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ith the A.O. as he was the assessing officer of Smt. Lalita Devi also. The Ld. A.O. without asking any further explanation from assessee has made the addition which is wrong. The Ld. CIT (A) also rejected the submissions of assessee which were not found incorrect at all by him but he placed much reliance on statement of assessee in course of search. The Ld. CIT (A) also held that no cash books were found or seized during the course of search but that is of no consequence in as much as that these .....

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