TMI Blog2018 (5) TMI 707X X X X Extracts X X X X X X X X Extracts X X X X ..... ount, no interference is called for in the matter. There is no reason why a professional will provide his own money and operate bank account with the assessee. If there was money of Shri Mahesh Sharma, he could have given confirmation or would have appear before A.O. for recording his statement. However, he did not support the case of the assessee and did not appear before A.O. for recording his statement. The explanation of assessee is clearly an afterthought.- Decided against assessee. - ITA.No.5904/Del./2017 - - - Dated:- 8-5-2018 - SHRI BHAVNESH SAINI, JUDICIAL MEMBER For The Assessee : Shri Dev Raj Sharma, Advocate For The Revenue : Ms. Ashima Neb, Sr. D.R. ORDER This appeal by assessee has been directed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at these transactions were not entered into by him. The assessee is joint account holder of this bank account. In the absence of source of the cash deposited in this bank account, A.O. made the addition of ₹ 7,32,000/-. Assessee challenged the addition before Ld. CIT(A). However, Ld. CIT(A) also confirmed the addition and dismissed the appeal of assessee. The findings of the Ld. CIT(A) in paras 5 to 9 are reproduced as under : 5. All the grounds of appeal are in respect of the addition of ₹ 7,32,000/-. I have gone through the facts. Normally, joint accounts are opened between blood relations, are close friends, who have an utmost faith on each other and who normally pool their resources for common use. In the present case, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ative to manage the clients affairs as and when required. The assessing officer is, therefore, correct in treating the deposits made in the bank account as the unexplained money of Sh. Shiv Shankar Sharma. The assessee states that he has filed an affidavit to the effect that the money was not deposited by him. It would have been much more useful to file an affidavit of Sh. Mahesh Sharma accepting the deposits rather than filing a selfserving affidavit. Where a person is a joint owner of a bank account, there is an equal onus on him to explain the deposits in the bank. He cannot remain ignorant to the entries appearing in the bank account. 8. The assessee has relied upon the judicial decisions in the case of : Commissioner o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the statement of assessee recorded by A.O. under section 131 of the I.T. Act. On consideration of the material on record, no interference is called for in the matter. The statement of assessee recorded by A.O. shows that assessee admitted therein that he has opened this bank account jointly with Shri Mahesh Sharma. However, assessee denied doing any transaction in this bank account. The assessee admitted in his statement that he knew Shri Mahesh Sharma for the last 4 to 5 years and he was filing his return of income. Learned Counsel for the Assessee stated that Shri Mahesh Sharma is not an Advocate but an Accountant of the assessee and he used to file I.T. return on behalf of the assessee. The assessee admitted that bank account in ques ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... firmation or would have appear before A.O. for recording his statement. However, he did not support the case of the assessee and did not appear before A.O. for recording his statement. The explanation of assessee is clearly an afterthought. The authorities below, therefore, correctly considered the deposit of unaccounted cash bank account as the money belongs to the assessee. The decisions relied upon by the assessee before Ld. CIT(A) have already been found distinguishable on facts, copies of which are also filed in the paper book of the Learned Counsel for the Assessee. 6. Considering the totality of the facts and circumstances of the case in the light of finding of fact recorded by the authorities below, particularly when first accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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