9911796707
TMI Blog2017 (2) TMI 1179X X X X Extracts X X X X X X X X Extracts X X X X ..... AO regarding the redeposit of cash withdrawn theory of the assessee. The pattern of deposit and withdrawal/ utilization of cash does not support the contention of the assessee. The reason for withdrawal on a particular date and redeposit after some gap has not been explained. iii) As regards gift from mother, the capacity of the donor has not been established. The pattern of giving cash on 13 occasions in a year in different amounts does not appear to be a valid and acceptable explanation." 3. All the grounds of appeal are related to a single issue involved in this appeal. Therefore, they are decided together. 4. The Assessee is an individual, who filed his return of income on 31/03/2008 declaring total income of Rs. 110465/-. Based on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n addition of Rs. 5213850/- to the total income of the assessee vide assessment order dated 30.12.2009 at Rs. 5324594/-. Assessee being aggrieved with the order of the Ld. assessing officer preferred an appeal before the Ld. CIT(A) who deleted the addition except a sum of Rs. 390000/-. Therefore revenue has filed this appeal before us challenging the order of the Ld. CIT(A) against deletion of an addition of Rs. 4823850/- made on account of unexplained cash deposit in the bank account. 5. Ld. departmental representative submitted before us that from 21/04/2006 to 27/11/2006 the assessee has shown gift of Rs. 17,20,000/- from his mother in cash of various amounts on 13 occasions, precisely each month. He further referred to para No. 4 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee to show about the cash deposit made by him in his bank account with State Bank of Indore. He therefore submitted that the order of the Ld. assessing officer might be upheld. 6. The Ld. authorised representative submitted a paper book and referred to the copy of the gift deed dated 10/04/2007 and copy of the affidavit dated 10/04/2007 of the mother of the assessee. He further explained that the mother of the assessee was ill and therefore the money was kept by her at home received on sale of jewellery. He further submitted death certificate of mother who passed away on 28/11/2008.. He further referred to the affidavit of the father of the assessee about the source of the jewellery stating that she was having sufficient gold or d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee , affidavit of father for the holding of jewelry. Hence, he held that the assessee has discharged his onus. Further, he was also of the opinion that as the Ld. assessing officer has not brought on record any fact contrary to the affidavit filed by the assessee, therefore facts of the affidavit cannot be denied. He further believed that the affidavit of the father of the assessee who has confirmed that the mother of the assessee was in possession of 300 gms of gold, out of which she sold 250 gms to private persons, and received the proceeds in cash and therefore her mother was having source of funds. It is important to note that assessee's only source of income is salary from M/s Laxmi Sales Corporation of Rs. 105600/- and sm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d every month, which is highly improbable. Furthermore, with respect to the generation of cash in the hands of the mother, assessee has not produced any bills of sale of gold and stated that gold has been sold to private persons. Assessee did not name the persons to whom it sold , with quantity, description and rate applied , neither Ld. assessing officer nor Ld. CIT appeal examined this issue. The CIT (A) has deleted the addition merely based on affidavits, without examining any evidences in support of those affidavits. We donot subscribe the view of the LD CIT (A) that assessee has discharged his onus. It is the duty of the assessee to prove the identity, creditworthiness of the lender and genuineness of the transaction when he receives s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessing officer to examine the cash deposited by the assessee by withdrawing in cash with the cash book with reasons for such huge withdrawal and deposits and also the fact of sale of gold by the mother of the assessee to the private parties by examining those private parties with respect to the date of sale, quantity of gold sold, rates at which it is sold as well as the fact of cash payment made by them. The assessee may be granted proper opportunity of hearing and adducing further evidences, if any, before deciding the issue on merit. In the result, the grounds of appeal of the revenue are allowed with above direction accordingly. 8. In the result appeal of the revenue is allowed for statistical purposes 9. Order pronounced in the o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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