2016 (12) TMI 1001

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..... ed by him with Union Bank of India. The Assessing Officer asked the assessee to furnish sources for the deposits. The assessee explained the sources to be savings made by him and his wife, loans taken from friends and relatives and sale proceeds of old jewellery. The Assessing Officer accepted the sources explained to be past savings and loans taken from friends and relatives. He did not accept the claim of sale of old jewellery. Accordingly, he added sale proceeds of old jewellery amounting to Rs. 21.68 lakhs to the income of the assessee. The learned CIT(A) also confirmed the same and hence the assessee has filed this appeal before us. 4. We noticed from the assessment order that the Assessing Officer has asked the assessee to produce ca .....

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..... ficer did not confront those findings with the assessee. Even otherwise the assessee cannot be found fault with, since the jewellers were not under his control and he does not have any other continuing relationship with them. 6. On the contrary, the Ld D.R strongly supported the order passed by the Ld CIT(A) by submitting that the assessee has failed to prove the claim of sale of jewellery. He further submitted that the jewellery bills furnished by the assessee are not reliable. 7. We heard the parties and perused the record. We notice that the assessing officer has examined the deposits found in the bank account of the assessee in terms of sec. 68 of the Act. We further notice that the assessing officer has accepted the sources claimed t .....

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..... e of the buyers, whose PAN no. is stated as BWOPS 0889 N. The photocopy of PAN card was also furnished. Hence it is not understandable as to how the Inspector could not find the shop, when the assessee has furnished PAN No. of M/s Shreeji Jewellers. Further the assessee has also furnished a confirmation letter obtained from his father-in law/mother-in-law certifying the details of gold ornaments given at the time of marriage. Since the assessee is a salaried employee, he did not maintain regular books of accounts. Under these facts and circumstances of the case, we are of the view that the assessee has discharged the primary responsibility placed upon him u/s 68 of the Act. On the contrary, the AO has claimed to have conducted enquiries thr .....

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