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2016 (8) TMI 18 - ITAT HYDERABAD

2016 (8) TMI 18 - ITAT HYDERABAD - TMI - Unexplained cash deposits - Held that:- There is a case where husband and wife are having joint bank a/c, bank statement and accounts were produced before us and even the bank statement regarding the relevant transactions were also brought in before us which are already on record. The assessee’s husband has categorically stated through affidavit and confirmation letter filed before the CIT (A) that he is earning income from rice business and that he is ha .....

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the rice business. Having said so, just because the assessee is a joint holder of that account, any amount deposited by her husband which he would have earned from a separate business, it cannot be added to the hands of the assessee. Therefore, we do not find any reason to interfere with the order of the learned CIT (A) on the relief granted to the assessee by the CIT (A). The grounds are rejected. - Disallowance of HRA - Held that:- AO has noticed from the return of income of the assessee’ .....

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an claim the deduction and as directed by the first appellate authority, it is for the AO to verify the facts whether the assessee will get the claim or not. On this issue we do not see any reason to modify the direction of the CIT (A). The ground is accordingly rejected. - ITA No. 1281/Hyd/2015, C. O. No. 1281/Hyd/2015 - Dated:- 29-6-2016 - Shri B. Ramakotaiah, Accountant Member And Shri Partha Sarathi Chaudhuri, Judicial Member For the Revenue: Shri M. Sitaram, DR For the Assessee : Shri K. Vi .....

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usband, solely relying on the assessee s declaration and the letter filed by the assessee s husband c) The learned CIT (A) erred in holding that the AO has not brought on record any material to show that these deposits are made by the assessee, without considering the fact that the onus to prove the sources for deposits made in the assessee s bank account lies with the assessee . 2. Brief facts of the case are that the assessee, is an individual deriving income from salary. She filed her return .....

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he bank a/c of the assessee relates to the business activities of the assessee s husband or belongs to the assessee herein. AO noticed cash deposit made into the assessee s Bank account amounting to ₹ 48,07,730. Assessee was asked to explain the sources of the same. Assessee explained that the bank a/c was in the joint name of the assessee and her husband Sri K. Basavaiah and that her husband was engaged in trading in rice and the assessee had nothing to do with the business. The assessee .....

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ssessee explained that the assessee s husband purchased rice from him. The assessee submitted to the AO that Sri Veerabhadra Rao was a landlord and was not a businessman. He being only a farmer and he was not an income tax assessee and that he even did not have a PAN. Being not convinced, the AO added the entire deposits in the bank a/c in the hands of the assessee, as income from unexplained sources. 4. Being aggrieved, the assessee preferred appeal before the CIT (A), who in his order observed .....

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irmation letter dated 27.08.2015 stating that the entire cash deposit of ₹ 48,07,730 relate to the rice business and that his wife has no connection with the cash deposit. The letter of Mr. K. Basavaiah was reproduced by the CIT (A) as under: This is with reference to the above subject, I wish to state that I Mr. K. Basavaiah, husband of G. Nagamany aged about 33 years R/o HIG 136 & 137, Revathi Nilayam, 6th Phase, KPHB Colony, Hyderabad 500072. I hereby state that the cash deposit of .....

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in his hands. Further, the AO has not brought on record any material to show that these deposits are made by the assessee. Therefore, the AO was directed to intimate the concerned AO where Mr.K. Basavaiah is assessed, so that the sources can be verified therein and accordingly the additions made in the assessee s hands was deleted by the learned CIT (A). Being aggrieved, the Revenue is in further appeal before us on this issue. 6. The learned DR relied on the order of the AO, whereas the learned .....

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transactions were also brought in before us which are already on record. The assessee s husband has categorically stated through affidavit and confirmation letter filed before the CIT (A) that he is earning income from rice business and that he is having a joint a/c with his wife the assessee here in SBI A/c No.30588257363 with the SBI Kukatapally Temple Branch. We have noticed that the Bank a/c indicates that the deposits are by Sri K. Basavaiah also and payments are for Rice purchase. This ind .....

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