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TMI Blog2018 (5) TMI 1251X X X X Extracts X X X X X X X X Extracts X X X X ..... framed thereupon is liable to be cancelled. 2. The learned CIT(A) erred in confirming addition at Rs. 3,62,000/- made by A.O. on account of cash deposit in bank account of assessee. 3. The addition made by A.O. by not accepting explanation of assessee with regard to cash deposit in bank account of assessee and confirmed by CIT(A) is unjustified, unwarranted and bad in law. 4. The learned A.O. and CIT(A) ought to have accepted the explanation of assessee with regard to deposit in bank account of assessee. 5. The assessee denies liability to be assessed to interest u/s 234A & 234B of IT. Act 1961. Without prejudice the interest levied u/s 234A and 234B is unjustified and unwarranted." 2. The brief facts of the case are that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. The deposit in bank account includes deposits of all members of family of assessee. Deposit includes deposits of agricultural income of self and family members, income from poultry farming of wife and proprietary business of tours and travels of assessee. Assessee has produced sale bills of agricultural produce of all the family members. The extract of 7/12 of agricultural holding of members of family is given. (Page 5 to 26). B) Assessee has submitted confirmation from father for deposit of cash in bank account of assessee to the tune of Rs. 2,44,0007- (Page -27) and confirmation of wife of assessee for deposit of Rs. 2,47,000/- out of agricultural income and poultry farm income (Page 28). In both the confirmations it has been stated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further independent taxable source of income from which deposit in bank account can be made. On above factual position addition made as assessable income in respect to bank deposit of all the family members is unjustified and unsustainable. G) Evidence of total land holding by assessee and his family members and sales of agricultural produce have been placed on record and have not been disputed in appellate and assessment proceedings. H) Fact that income of family members is being deposited in one bank account as family members of assessee were not having independent bank account has also not been disputed. Assessee has not claimed investment out of deposits belonging to assessee. Gross receipts at Rs. 3,10,0007- from business of Tou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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