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TMI Blog2018 (11) TMI 513X X X X Extracts X X X X X X X X Extracts X X X X ..... ought on record the identity, genuineness and creditworthiness of the person, from whom the assessee received the above loan, accordingly the addition was made. Aggrieved with the above order, assessee preferred an appeal before the CIT(A). 3. After considering the submissions of the assessee that the cash deposits made in the bank account which is in the name of the assessee, but the same is held in the name of the company i.e., M/s. Destiny Overseas Pvt. Ltd., Chandigarh. After verification of the same, Ld.CIT(A) found that the submissions of the assessee are correct. Accordingly, he deleted the above said addition. However, he noticed that there are certain cash deposits in the personal account of the assessee i.e., Rs. 1,00,000/- cash deposited on 09-04-2008 and Rs. 10,090/- on 08-04-2008. Ld.CIT(A) after giving opportunity of being heard to assessee, confirmed the addition of Rs. 1,10,090/-. Aggrieved with the above order, assessee preferred an appeal before us, raising the following Grounds of Appeal: "1. The order of the learned Commissioner of Income Tax (Exemptions) is against law, weight of evidence and probabilities of the case. 2. The learned Commissioner of Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ord. We noticed that the assessee was holding two separate accounts - one in the name of the company and another is personal A/c (Savings Bank A/c). Assessing Officer noticed that some cash deposits in the accounts of the company which was held in the name of the assessee. Ld.CIT(A) accordingly found this to be proper and accordingly deleted. However, Ld.CIT(A) noticed the other two cash deposits in the personal savings account of the assessee, accordingly, he made the addition. The question before us is only whether the additions made by Ld.CIT(A) are of the transactions independent in nature or whether they are the same transactions on which Assessing Officer made the addition. Ld.AR relied on the following decisions, which are extracted below: 6.1. Hon'ble High Court of Kerala in the case of CIT Vs. Shri B.P. Sherafuddin, Hotel Gazala Inn in ITA No. 881 of 2009; "48. The principle emerging from various pronouncements of the Supreme Court, Union Tyres observes, is that the first Appellate Authority is invested with very wide powers under Section 251(1)(a) of the Act and once an assessment order is brought before the authority, his competence is not restricted to examining ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) has held as under: "The first appellate authority is invested with very wide powers under s. 251(1)(a) and once an assessment order is brought before the authority, his competence is not restricted to examining only those aspects of the assessment about which the assessee makes a grievance and ranges over the whole assessment to correct the AO not only with regard to a matter raised by the assessee in appeal but also with regard to any other matter which has been considered by the AO and determined in the course of assessment. However, there is a solitary but significant limitation to the power of revision, viz. that it is not open to the AAC to introduce in the assessment a new source of income and the assessment has to be confined to those items of income which were the subject-matter of original assessment. Applying the above well settled principles of law to the facts of the instant case, the Tribunal was justified in holding that in calling for a remand report on the four points the AAC had exceeded his jurisdiction. While computing the total business income of the assessee, the AO had estimated the sales at an enhanced figure and had applied a higher rate of gross profit. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 7 revenue that the words 'enhance the assessment' occurring in section 31 were not confined to the assessment reached through a particular process but the amount which ought to have been computed if the true total income had been found. The court observed that there was no doubt that this view was also possible) but having regard to the provisions of sections 34 and 33B, which made provision for assessment of escaped income from new sources, the interpretation suggested on behalf of the revenue would be against the view which had held the field for nearly 37 years." (Emphasis, here italicised in print, supplied). 4. Looking from the aforesaid angles, the inevitable conclusion is that whenever the question of taxability of income from a new source of income is concerned, which had not been considered by the assessing officer, the jurisdiction to deal with the same in appropriate cases may be dealt with under section 147/148 of the Act and section 263 of the Act, if requisite conditions are fulfilled. It is inconceivable that in the presence of such specific provisions, a similar power is available to the first appellate authority. That being the position, the decision ..... 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