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Mohammed Zaheeruddin Versus Income-tax Officer, Ward – 12 (4) , Hyderabad

2016 (9) TMI 694 - ITAT HYDERABAD

Unexplained cash deposits - Estimation of income of the assessee - cash deposits made by assessee's brother in bank account - Held that:- The fact is that the Assessee being a salaried employee, allowed his brother to operate his bank account to run his business. The same was confirmed by his brother before the AO. In our considered view, we will have two ways to address the current issue. Either to assess the income in the hands of Assessee’s brother or assess the income in the hands of assesse .....

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done in the case of Assessee’s brother. - Decided in favour of assessee - ITA No. 306/Hyd/2015 - Dated:- 5-8-2016 - SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER For The Assessee : Shri S. Rama Rao For The Revenue : Shri K.E. Sunil Babu ORDER PER S. RIFAUR RAHMAN, A.M.: This appeal is preferred by the assessee against the order of the learned Commissioner of Income-tax(A) - 1, Hyderabad for AY 2010-11. 2. Briefly the facts of the case are that the assessee is .....

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nk account maintained with ICICI Bank, Gaddiannaram, Hyderabad to the tune of ₹ 56,96,000/- during the FY 2009-10 relevant to AY 2010-11. When the AO asked the assessee to explain the sources for these cash deposits along with documentary evidences, the assessee did not respond with proper explanation/documentary evidence except filing simple letters, dated 27/02/13, 18/03/2013 and 19/03/2013 stating that the SB A/c in which the cash deposits were made was operated by his brother, Mr. Moha .....

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see failed to furnish any other documentary evidence in support of his claims, and in absence of proper/satisfactory explanation by the assessee towards the cash deposits in his SB A/c, the AO treated the entire cash deposit amount of ₹ 56,96,000/- as his unexplained sources income and the same was added to the income returned. 2.2 As regards the assessee s claim of deduction of ₹ 27,480/- u/s 10 towards HRA, since the assessee could not substantiate his claim with documentary eviden .....

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count in his name as evident from earlier assessment orders. That too when the additions were made in earlier years on account of cash deposits. g) It was explained that Mr.Mohd. Nooruddin wanted to help his brother (the appellant) so that the appellant could obtain some loans for purchasing the Flat. It was further explained that the appellant had to show some transactions in his account in order to obtain housing loan. This reason given is totally unconvincing as Mr.Mohd. Nooruddin was doing t .....

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) During the course of appeal proceedings, when the Authorized Representative was asked to produce any three students for whom finances were provided, it was stated that, it was not possible to produce the students. However, he produced bank accounts of 3 persons for whom he arranged funds. How appellant could produce bank accounts when he could not produce the individuals is not understood. l) During the course of appeal proceedings the Authorized Representative submitted that he has no objecti .....

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n record to prove that, the cash withdrawal and cash deposits were used for the purpose of providing finance to the students/to the persons to enable them to obtain visas for going abroad. No satisfactory explanation was given as to why the appellant let his brother to use his account. A copy of the bank account of the appellant, Mr. Mohd. Zaheeruddin with ICICI Bank was submitted in which his salary was credited. Even in this account also, there were frequent cash deposits, however, these are s .....

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essee is in appeal before us raising the following grounds of appeal: 1. The Hon'ble CIT(A) is not justified in: a. appreciating the fact that the transactions belong to the assessee's brother one Mr. Nooruddin, inspite of producing all the relevant supporting material. b. stating that the assessee has not come out with full truth, when the assessee and his brother both appeared and both confirmed the transactions belonging to whom. c. Not observing the fact that the credits in the bank .....

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count pertaining to the borrowers of assessee's brother. e. in stating that the assessee could not produce at least three persons who have taken money from the assessee's brother. It is fact that it is a one time affair and no continuing relationship exists with the borrowers. It is with the personal rapport with the banker/s, the assessee's brother could get the bank statement/s of borrowers of that time FROM THE BANK. This too was mis interpreted by the CIT(A) stating that while th .....

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