TMI Blog2019 (3) TMI 388X X X X Extracts X X X X X X X X Extracts X X X X ..... d debts are matching to the cash received by the assessee as loan, claim of the assessee, may be allowed after examining the documents, additional evidences and the submissions of the assessee in the remand proceedings. Accordingly, the issue is remanded to the file of the Assessing Officer for deciding the issue afresh - Decided in favour of assessee for statistical purposes. - ITA No.3078/PUN/2017 - - - Dated:- 1-3-2019 - Shri D. Karunakara Rao, AM For the Appellant : Smt. Deepa Khare For the Respondent : Shri M. K. Verma ORDER PER D. KARUNAKARA RAO, AM : This appeal is filed by the assessee against the order of CIT(A)-2, Nashik dated 12.10.2017 for the Assessment Year 2009-10. 2. The grounds raised by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a case of making addition on account of cash deposits of ₹ 9 lakhs u/s 68 of the Act. The assessee deposited the said cash of ₹ 9 lakhs on 14.04.2008. It is the submission of the assessee that the said amount was received from her brother, Shri Viniyak Atterde in the form of loan. There are confirmation letters available on record to support the transaction and its genuineness. The assessee further submitted that the loan taken by Shri Viniyak Atterde is the source of the said cash deposit. The Assessing Officer did not satisfy with the said explanation of the assessee and made an addition of ₹ 9 lakhs on account of unexplained cash credit u/s 68 of the Act. The CIT(A) confirmed the same. 6. Bringing my attention to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the Loan account of the creditor. Since the ld. CIT(A) made this basis for confirming the addition, the appellant is placing the Savings A/c Extract with Rukmini Urban Credit Coop Society for a period from 1.4.2007 to 31.3.2008 wherein the amounts transferred from Loan Account to the Savings account are reflected. At the same time, cash withdrawals are also reflected. The total cash withdrawals are reflected of ₹ 42,41,807/- during the year. In order to meet the point of ld. CIT(A) of no withdrawals, the additional evidence is placed before Your Honour. It is prayed that in the interest of justice, the same may kindly be considered and decided on merits. 7. On hearing the ld. DR for the Revenue and considering the above ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
