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2018 (3) TMI 967

8377; 3 lakh of re-deposit of cash but have not considered that during the previous years, the appellant would have accumulated funds, for which a further benefit of ₹ 5 lakh was given. The Tribunal came to the conclusion that there was no specific evidence to support the opening balance of ₹ 8,86,639/- as on 01.04.2010. The evidence was not there to explain the cash deposits made to the tune of ₹ 23,39,420/- There was nothing on record to support the fact that the amounts withdrawn from the salary account were re-deposited. The FDRs of the appellant indicated that he was intelligently investing the amount with the bank. The benefit of re-deposits and of accumulated funds for the previous year has already been given. - .....

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e. Even otherwise, the capital account of Shri Om Parkash was a self serving document prepared without any basis. The said capital account showed opening balance of ₹ 8,50,528/-, for which there was no source or basis. The appellant failed to give any reason as to why these documents could not be produced earlier. - Decided against assessee - I.T.A. No. 453 of 2017 - Dated:- 16-3-2018 - MR. S. J. VAZIFDAR, CJ. AND MR. AVNEESH JHINGAN, J. For The Appellant : Mr. Sunil K. Mukhi, Advocate ORDER AVNEESH JHINGAN, J. This is an appeal against the order of the Income Tax Appellate Tribunal partly allowing the appeal of the assessee. 2. The matter pertains to the assessment year 2011-12. 3. According to the appellant, the following substantia .....

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tive effect on the case and thus finding of the ITAT are perverse and deserve to be set aside? (iv) Whether the order of ITAT is perverse and deserves to be set aside being devoid of proper appreciation of facts and against well settled law? 4. The assessee filed the return showing income under the head Rs.salary' only. The case was taken up for scrutiny. The Assessing Officer (AO) vide order dated 25.02.2014 finalised the assessment under Section 143 (3) of the Income Tax Act, 1961. The AO made additions of ₹ 20,49,420/- and ₹ 14,40,000/-, the amounts deposited in cash in Bank accounts, as income from undisclosed sources. Interest received from FDRs not disclosed in the return was also added. 5. The Commissioner of Income T .....

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was deposited in bank account No. 197010100090146. It was noted that the withdrawals were through ATMs or cash from same account. Giving the benefit of the fact that there could have been cash re-deposited, the AO made an addition of ₹ 20,49,420/- under Section 69, giving a benefit of ₹ 3 lakh. 9. The appellant adduced additional evidence before CIT (A). The same was considered. Remand report was asked for. The CIT (A) considered the facts and the evidence produced. The claim of the appellant of having opening balance of ₹ 1,65,850/- from salaries earned upto 31.03.2008 was rejected after verifying bank details from the system of department and taking into account the withdrawals made. The claim that appellant had received .....

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i) 12. An addition of ₹ 14,40,000/- was made for cash deposited in joint bank account No. 19701010011034 of Shri Om Parkash (maternal grand-father of the appellant) and the appellant. 13. During the assessment proceedings, in spite of specific queries in the questionnaire and in subsequent letters, the appellant never disclosed the said bank account to the authorities. The authorities had Annual Information Return (AIR) information. The appellant denied having any such joint account with Shri Om Parkash. The authorities confronted him with the bank statement and asked for the source of cash deposits made. At that stage, the assessee replied that the account was of his maternal grand- father, who expired on 10.11.2011 and all transacti .....

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ing the date of payment or mode of payment from the firm to Shri Om Parkash. The reliance on the cash book of Shri Om Parkash was found baseless as it showed an opening balance of ₹ 8,50,528/- as on 01.04.2010, for which there was no proof of entries or source of opening balance. The addition was affirmed by the CIT (A). 15. Before the Tribunal, the appellant relied upon a bank certificate dated 30.08.2016 and copy of capital account of Shri Om Parkash. The said documents were produced first time before the Tribunal without any application for permission to produce additional evidence. The Tribunal confirmed the order of the AO and the CIT (A) regarding addition made of ₹ 14,40,000/-. 16. The question raised is one of fact. Addi .....

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