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TMI Blog2017 (3) TMI 134X X X X Extracts X X X X X X X X Extracts X X X X ..... s are taken up for consideration by this consolidated order. 2. First issue raised in these appeals is against the confirmation of addition of Rs. 36 lac. The facts apropos this issue are that the assessee deposited a sum of Rs. 40 lac in her savings bank account vide four transactions - one in November, 2010 and the other three in March, 2011. On being called upon to explain the source of such bank deposits, the assessee furnished details of withdrawals from her savings bank account from 14.07.2010 to 16.12.2010 totaling Rs. 74 lac. It was explained that the cash was withdrawn for the purpose of purchase of property which deal did not materialize and, hence, the cash was re-deposited in the bank account. The assessee also produced stamp p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lize. The AO has not shown that the cash so withdrawn was used elsewhere and was not available for re-deposit. In such circumstances, the presumption has to be that the amount withdrawn a few months before its re-deposit is out of earlier withdrawals, which does not call for any addition. I, therefore, order to delete the addition of Rs. 36 lac. This ground is allowed. 4. The next issue is against computation of capital gain. The assessee sold on 25.2.2011 a property bearing no. 2856/1, Kucha Ghashi Ram Bazar, Sirkiwalan, Hauz Qazi, Delhi, for Rs. 1,75,000/- and declared long-term capital gain of Rs. 41,505/-. The AO, made certain alterations in the computation of capital gains and made an addition of Rs. 1,49,060, which came to be sustain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.03.2010 19320/- 3. Wooden Door and window Vijay Sharma 16.03.2010 19400/- 8. The AO did not accept the assessee's claim as, in his opinion, this amount was in the nature of repairs and maintenance, for which the assessee was availing statutory deduction in the computation of income under the head `Income from house property'. He, therefore, refused to include Rs. 50,000/- as cost of improvement. No relief was allowed in the first appeal. 9. Having heard both the sides and perused the relevant material on record, it is noticed that the first item in the above list is a sum of Rs. 14,500/- incurred for sanitary fittings etc., done by the assessee as a fresh exercise to renovate the premises. The second item is POP ceiling on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raised in this appeal is against an addition of Rs. 83,436/- made by the AO under the head 'Income from house property.' The assessee declared income from house property at Rs. 75,223/-, as under:- Rental income from 2663, Gali Arya Samaj Sita Ram Bazar, Delhi. 1,08,000/- 2856/1, Gali Ghashi Ram, Bazar Sirkiwalan, Delhi 8,140/- Total 1,16,140/- Less: House Tax 8,678/- 1,07,462/- Less 30% repair 32,239/- Income from house property 75,223/- 13. The AO required the assessee to produce a copy of rent agreement for demonstrating the rental income at Rs. 1,08,000/-. Nothing of this sort was placed on record. The AO determined annual ratable value of this property at Rs. 2,25,996/- by multiplying ratable value as resi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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