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2016 (7) TMI 568 - ITAT PUNE

2016 (7) TMI 568 - ITAT PUNE - TMI - Addition u/s.69B - disclosed investment - expenditure non substantiated - Held that:- As regards the addition of ₹ 54,850/- u/s.69B is concerned the Ld.CIT(A) upheld the addition made by the AO on the ground that assessee has purchased the flat during the year for which ₹ 54,880/- was spent on stamp duty, registration charges and copying charges etc. Since the same was neither shown by the assessee nor by his spouse in their respective return of i .....

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70,000/- for which he sustained the addition. So far as the addition of ₹ 47,400/- u/s.69B is concerned he upheld the addition on the ground that the value of flat as per registered sale deed dated 22-01-2009 was ₹ 12 lakhs whereas the assessee has shown such investment by himself and in the name of his spouse at ₹ 11,52,600/-. Since the difference could not be explained the addition was sustained by the CIT(A). - Decided against assessee. - ITA No.1999/PN/2013 - Dated:- 8-7-20 .....

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ni informed the Bench that he is withdrawing his Power of Attorney. Accordingly, fresh notice was issued fixing the hearing on 04-05-2016. The notice was issued through RPAD. However, the postal authorities returned the notice with a remark Not known . Therefore, the case was adjourned to 05- 07-2016 by issue of fresh notice. However, when the name of the assessee was called none appeared on behalf of the assessee nor any petition seeking adjournment of the appeal was filed. It was further seen .....

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g the course of assessment proceedings the AO noted that the assessee has deposited an amount of ₹ 23,13,000/- in his savings bank account maintained with Bank of Maharashtra, Tarabai Park Branch and has also deposited an amount of ₹ 3,33,000/- in savings bank account maintained with State Bank of India. He, therefore, asked the assessee to explain the source of these cash deposits in the above bank accounts. It was explained by the assessee that the Joint Bank Account at Bank of Mah .....

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submitted that an amount of ₹ 9,42,980/- deposited by the assessee is out of sale proceeds of ₹ 7,96,980/-, sale of car ₹ 92,000/- and sale of gold ornament ₹ 54,000/-. The amount of ₹ 14,06,920/- has been deposited by the spouse of the assessee which is out of sale proceeds of CD cassettes amounting to ₹ 13,52,250/- and opening cash balance of ₹ 1,50,000/-. Since the assessee could not satisfactorily explain the above entries by producing necessary evid .....

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O made addition of ₹ 3,21,000/- u/s.68 of the I.T. Act. The AO also made addition of ₹ 2,70,000/- on account of difference in balance in opening and closing balance in the capital balance, ₹ 47,400/- on account of unexplained investment in flat u/s.69B and ₹ 54,880/- on account of unexplained expenditure u/s.69C of the I.T;. Act. The AO also made addition of ₹ 644/- on account of interest on savings bank account which was not disclosed by the assessee after allowing .....

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and in law the Ld. CIT(A)-Kolhapur was not justified in passing exparte appeal order without affording proper opportunity of being heard. On earlier four dates of hearings mentioned on Page 2, there adjournments were sought. Against the date of hearing on 26-06-2013 it is mentioned "Undersigned was on leave". The subsequent hearing on 10-07-2013 could not be attended by AR of the assessee at Kolhapur. The Ld. CIT(A) mentioned about hearing on 07-08-2013 the underserved remark "pe .....

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para Nos. 5 to 17 of the appeal order simply confirms the additions made by the A.O. but without properly appreciating the written submissions of the assessee. The Ld. CIT(A) failed to apply his mind while confirming the additions made by the A.O. and the additions be set aside. 3. On the facts and circumstances of the case and in law the Ld. CIT(A) confirmed the addition ₹ 18,49,020/- made by A.O. under section 69B of the Act, being cash deposited into bank account but without considerin .....

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the written submissions submitted before him. The addition be deleted. 5. On the facts and circumstances of the case and in law the Ld. CIT(A)-Kolhapur was not justified in confirming the addition of ₹ 3,21,000/- made by A.O. u/s. 68 of the Act without properly appreciating the written submissions submitted before him. The addition be deleted. 6. On the facts and circumstances of the case and in law the Ld. CIT(A)-Kolhapur was not justified in confirming the addition of ₹ 54,850/- m .....

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w the Ld.CIT(A)- Kolhapur was not justified in confirming the addition of ₹ 47,400/- made by A.O. of the Act without properly appreciating the written submissions submitted before him. The addition be deleted. 9. On the facts and circumstances of the case and in law the levy of interest u/s.234A, 234B and 234C is not justified. The levy of interest be quashed. 10. The appellant craves/leave to add, amend or alter any of the above grounds of appeal. 6. We have perused the material available .....

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substantiate the figures of income and expenditure filed with the return of income. The assessing officer, during the course of assessment asked the appellant to furnish various details/information etc. After this, vide questionnaire dated 01/07/2011 details and source of cash deposits in bank accounts were requisitioned. Then, letters dated 29/08/2011 and 27/09/2011 were issued, calling for information. In response to all these letters asking the appellant repeatedly to furnish details and docu .....

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ellant does not take the benefit of repeated opportunities offered to him to explain his case and furnish evidence of cash deposit. It was stated that the appellant is a Doctor by profession and it is remotely impossible for him to carry on the business of film and music CD. The learned assessing officer should have examined wife of appellant who says that the cash was from her business of production of CD. The appellant has missed the point that wife of the appellant is her witness and not asse .....

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e before the undersigned. Having failed to do so, the facts before the undersigned are the same as those before the assessing officer that the cash has been deposited in the bank accounts belonging to appellant, the source of which is not explained. On these facts, I have no option but to sustain the addition made by the assessing officer. The ground is rejected. 7. So far as the addition of ₹ 85,243/- u/s.69B of the I.T. Act is concerned the Ld.CIT(A) upheld the addition made by the AO on .....

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