TMI Blog2018 (8) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee. All necessary details were filed in this refund. Both the parents are income-tax assessees. Under these circumstances, in our view, no addition can be made in the hands of the assessee. If the donors could not prove their capacity, addition should have been considered in their hands but not in the hands of the assessee. - Decided in favor of assessee. - ITA No. 444/Kol/2018 - - - Dated:- 13-7-2018 - Sri J. Sudhakar Reddy, Accountant Member Sri Aby T. Varkey, Judicial Member ORDER Per J. Sudhakar Reddy, AM :- This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals)-Asansol, (hereinafter the Ld. CIT(A) ), dt. 17/01/2018, passed u/s 250 of the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll the undisclosed bank accounts respectively. (b) For the Ld. CIT(A) ought to have accepted lower addition on the basis of combined peak balance worked out on the basis of combined deposits withdrawals of all the undisclosed bank account taken together. 2. For that on the facts and in the circumstances of the case, the Ld. CIT(A) ought to have deleted the addition of ₹ 9,00,002/- made by the A.O. being the gifts received by the Appellant from his parents. 3. For that on the facts and in the circumstances of the case, the Ld. CIT(A) ought to have deleted the addition of ₹ 1 ,52,000/- made by the A.O. in respect of the unsecured loans received by the assessee. 4. That the appellant craves leave to add, alter or dele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rected to verify the said working and allow appropriate relief to the assessee on this issue. Ground no 1 of the assessee's appeal is thus partly allowed. 5.1. The Bench followed the decision of the Kolkata C Bench of the Tribunal in the case of Uday Shankar Mahawar in ITA No. 1903/Kol/2009 order dt. 16/07/2010. The ld. D/R did not dispute, in principle, the contention of the assessee that only the combined peak credit should be brought to tax, as that would be the quantum of investment made by the assessee. Nevertheless, he relied on the order of the ld. CIT(A) and submitted that, the assessee has not provided the requisite details to compute the combined peak. Hence he contended that the order of the ld. CIT(A) should be upheld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee. All necessary details were filed in this refund. Both the parents are income-tax assessees. Under these circumstances, in our view, no addition can be made in the hands of the assessee. If the donors could not prove their capacity, addition should have been considered in their hands but not in the hands of the assessee. Hence, the addition on this account stands deleted. There is no evidence brought on record by the revenue authorities to contradict the claim of the assessee. 7. Ground No. 3, is against the addition of ₹ 19,000/- each taken in cash from 8 persons. The assessee filed confirmation letter. The Assessing Officer made the addition as the assessee did not file the copies of income tax returns, profit an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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