TMI Blog2020 (6) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... direct the deletion of addition to the extent of ₹ 8 lakhs. Before me for the balance addition of ₹ 2,17,000/- since no explanation has been offered by Ld.A.R. nor has he pointed to any error / fallacy in the findings of lower authorities, uphold the addition to the extent of ₹ 2,17,000/-. - Decided in favour of assessee partly. - ITA No.2160/PUN/2016 - - - Dated:- 18-10-2019 - Shri Anil Chaturvedi, Accountant Member For the Assessee : Shri Hari Krishan. For the Revenue : Shri Prashant Gandhale ORDER PER ANIL CHATURVEDI, AM : 1. This appeal filed by assessee is emanating out of the order of Commissioner of Income Tax (Appeals) 2, Aurangabad dated 04.07.2016 for A.Y. 2011-12. 2. The releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent proceedings, AO noticed that assessee has deposited cash aggregating to ₹ 11,50,000/- in his savings Bank account maintained with Deogiri Nagari Sahakari Bank Ltd., and ₹ 14,17,000/- in the saving Bank account maintained with Central Bank of India. The assessee was asked to explain the source of deposits in those Banks. AO noted that with respect to the source of deposits of ₹ 2,66,121/- with Deogiri Nagari Sahakari Bank, assessee could not explain with satisfaction the details and source of deposits. He therefore made the addition of the aforesaid amount as an unexplained money u/s 69C of the Act. With respect to cash deposits with Central Bank of India, AO noted that assessee could not explain the source of deposits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gainst the total deposits of ₹ 14,17,000/-, which was added as income by AO. Ld.CIT(A) after considering the remand report, granted relief to the extent of ₹ 4 lakhs and confirmed the addition to the extent of ₹ 10,17,000/-. The perusal of the remand report which is reproduced by the Ld.CIT(A) reveals that during the remand proceedings, Arjun Bhimrao, the father of the assessee stated that he owned agricultural land and had agricultural income of ₹ 4 to 5 lakhs per year. After considering the submission of assessee s father Arjun Bhimrao, AO has noted that the total cash availability for two years was about ₹ 8 lakhs. In such a situation, I am of the view that to the extent of ₹ 8 lakhs, the cash deposits ..... X X X X Extracts X X X X X X X X Extracts X X X X
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