TMI Blog2018 (12) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... nst the order dated 23/10/2015 passed by CIT(A)-30, New Delhi for Assessment Year 2012-13. 2. The grounds of appeal are as under:- (A). That on the facts circumstances of the case the Learned ITO/CIT(A) erred in 1. Making an addition of ₹ 6,60,000/- out of the cash found at the time of search even though complete justification explanation. For the availability of cash was given. 3. Return declaring income of ₹ 15,11,496/- was filed on 11/02/2013. Search and seizure action u/s 132 of the Income Tax Act, 1961 was initiated in the case of the assessee on 23/8/2011 at Gurgaon. Statutory notices u/s 143(2) was issued on 11/9/2013 and was served. Thereafter, a questionnaire u/s 142(1) dated 28/7/2014 was served on the assessee. In response to the notices issued to the assessee, C.A and AR of the assessee attended and submitted the details called for. The Assessing Officer observed that the assessee derived income from salary and income from other sources. No other sources of income as admitted. During the statement recorded u/s 132(4) of the Income Tax Act, 1961, Shri Raman Singh Siddhu, husband of the assessee stated that he does not possess statement o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loyed with DIAL and with Group 4S Services (P) Ltd. from Jan., 2009 onwards. It is a matter of record that no other adverse observation in regards to the drawings/ expenditures incurred through Banking Channels by assessee or her family members were recorded by the Department at the time of Search proceedings as well as at the time of Assessment Proceedings. Further, the assessee has done MA in aviation Management and has working experience of more than 20 years. She had worked in British Airways as Cabin Crew for 11 years, then as Senior Manager Airport with M/s. GMR for two-three years and at the time of Search she is Director Corporate affairs and CSR and Communication with M/s. G4S Secure Solutions India (P) Ltd. Her Husband is CA-MBA and has working experience of more than 36 years. He worked in Grind-lays Bank, Barclays Bank and in HSBC Securities and Investment (P) Ltd. as Sr. Director. It is worth mentioning that the family of the assessee comprises of Self, Husband and School Going daughter. The son resides abroad for studies. Hence, keeping in view the cash balance available with the family and aforesaid facts, the addition on account of estimation/ mere rejectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder:- Q: 4. On search of locker no. D-2000, cash amounting to ₹ 12,50,000/- (Rs. Twelve Lakhs fifty Thousands only) has been found. Please explain the source of this cash. Ans: This cash belongs to me. This is accumulated over a period of time from savings. Apart from this, this cash also includes savings from my expenses and money received on various occasions like birth day on my children etc. Q:5. Kindly produce the necessary evidentiary proof in your contention in question no. 4. Ans: - Right now, I cannot produce any such proof. But I want to state that this savings is made by me from the accumulated income. The copies of relevant I IRs will Min* produced in due course. 4.2 During the search of locker no. E-722, HSBC Bank, South Ext., New Delhi maintained in the name of assessee in joint name with Shri Raman Singh Sidhu, cash amounting to ₹ 50,000/- was found. At the time of the search of this locker, statement of the assessee- Smt. Rupinder Dhanoa Sidhu was recorded: The relevant part of the statement of Smt Rupmder Dhanoa Sidhu dated 07./0.207/ is reproduced as under:- Q: 3 On searching the locker no. E-722, the following items ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rrect on the face of records itself. Regarding assessee. s plea of having received gifts on birthday of children and shaguns on auspicious occasions, it may be added here that custom of gifts/shaguns prevails in our society but are reciprocal and cannot be a source of accumulation of such a huge amount. Accordingly the assessee has failed to furnish any evidence regarding the source of cash found in her lockers. 4.6 In view of the detailed discussion above, the cash found in lockers amounting to ₹ 13,00,000/- is treated as the unaccounted income of the assessee u/s 69 A of the Income Tax Act, 1961 and added to the total income of the assessee. As discussed above, I am satisfied that the assessee is liable for penalty proceedings u/s 271 AAA of the Income-Tax Act, 1961 with regards to the addition of ₹ 13,00,000/- as detaiful above, and accordingly penalty proceedings are being initiated separately by the issue of notice u/s 274 of the Act. During the appellate proceedings, Ld. A.R. has filed written submission vide letter 15.6.2015, which is reproduced as under:- GROUND NO.l The learned DCIT has made addition of ₹ 1300000 on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulated over a period of time from past savings and also received us shagun gifts on auspicious occasions. (iii) During the appellate proceedings, the appellant has submitted that the cash withdrawal statement before the A.O. was filed vide letter dated 26.12.2014, where the accumulated cash balance over a period of time has been shown at ₹ 18,66,000/ and therefore, submitted that cash of ₹ 13,00,000/-, found from the lockers, is fully explained. However, this argument of the appellant did not find favour with the A.O for the reason that she has not made regular withdrawals from the bank account, which are in the joint name with her husband. (iv) In the appellate proceedings, the appellant has reiterated more or less same argument; which were taken before the A.O., in the assessment proceedings. It has also been submitted that the bank accounts from where cash has been withdrawn, are the accounts in the join name of the appellant and her husband and therefore, cash found represent the cash in the hands of both of them as a family. However, in the statement, her husband Shri Raman Singi Sidhu, has stated that the cash found from the lockers belong to his wife an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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