9911796707
TMI Blog2017 (3) TMI 797X X X X Extracts X X X X X X X X Extracts X X X X ..... l Chandra Das, Ld. Departmental Representative represented on behalf of Revenue and Shri Soumitra Choudhury, Ld. Advocate appeared on behalf of assessee. 2. The inter-connected issue raised by the Revenue in this appeal is that the ld. CIT(A) erred in admitting the additional evidence in contravention to the provisions of Rule 46A of the Income Tax Rules, 1962. 3. The facts in brief are that the assessee is an individual and has filed return of income declaring a total income of Rs. 2,21,200/-. The Assessing Officer during the course of assessment proceedings observed that the assessee has deposited a sum of Rs. 36,55,675/- in cash in its bank account maintained with Axis Bank. On questioned by AO about this source of cash deposit the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee has also taken loan from her husband for Rs. 4 lakh and the PAN No. of her husband AGMPC 3484E. The money was borrowed for the purpose of a flat in Kolkata. In view of the above, the ld. CIT(A) called for the remand report from the AO who in turn submitted that the party M/s. Bhavin Jewellers is not traceable. Similarly, parties from whom the assessee has taken loan were issued notice u/s 131 of the Act but none of them physically appeared before the AO. They had just submitted their reply to the income tax department. The ld. CIT(A) after considering the submissions of the assessee has deleted the addition made by the AO by observing as under : "3.5. I have considered the assessment order and the submission of the AR of the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . AR of the appellant and verified by me. Moreover, the advances received from relatives and friends were from the persons who are having their identity and I.T. PANs and who have duly confirmed the transactions stating the source in compliance to notices sent by speed post which were all served on them. It is evident that Rs. 7,46,000/- was withdrawn from Axis Bank, CIT Road branch, S.B. Account No. 40256 on 12.3.2008 which remained cash available with the appellant on 01.04.2008. As regards source of sale of jewellery of Rs. 17,10,535/- which was possessed by the appellant as stridhan, it is evident from the valuation reports dated 13.12.1998 and 07.04.2008 given by Kirit H. Kothari having registration number WB CAT VIII/14(T) of 1988 tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der : 1. There was an opening balance of Rs. 7.46 Lacs as on 1st April 2008 which was withdrawn from the saving bank no. 40256 maintained with axis bank of the assessee dated 12.3.2008. 2. Assessee during the year has also sold jewelleries and submitted necessary details in support of sale of the jewelleries. 3. Assessee during the year has also take loan from various parties and in support of his claim he has furnished the copies of the PAN & other details. These parties are the close relatives and friends of the assessee. They also confirmed the transactions from the assessee. 4. The assessee has also taken loan from her husband during the year. 5. The assessee also submitted that she has earned an income of Rs. 2,21,200.00 in the ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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