TMI Blog2021 (4) TMI 380X X X X Extracts X X X X X X X X Extracts X X X X ..... source of money in the hands of the husband. From the above, the assessee was to justify the source of investments made in the securities which has been duly explained. Therefore, the question about the source of fund in the hands of the husband cannot raised from the assessee at the stage. We hold that the assessee has discharged her duty by disclosing the source of fund in the investment of securities. Accordingly, there cannot be any addition to the total income of the assessee. Hence, we set aside the finding of the learned CIT(A) and direct the AO to delete the addition made by him. Thus the ground and additional ground of appeal of the assessee is allowed. - ITA No. 1831/AHD/2019 - - - Dated:- 23-3-2021 - SHRI WASEEM AHMED ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upreme Court in the case of NTPC Ltd. reported in 229 ITR 383 where it was held as under: Under section 254, the Tribunal may, after giving both the parties to the appeal an opportunity of being heard, pass such orders thereon as it thinks fit. The power of the Tribunal in dealing with appeals is thus expressed in the widest possible terms. The purpose of the assessment proceedings before the taxing authorities is to assess correctly the tax liability of an assessee in accordance with law. If, for example, as a result of a judicial decision given while the appeal is pending before the Tribunal, it is found that a non-taxable item is taxed or a permissible deduction is denied, there is no reason why the assessee should be prevented from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee. 6. Heard the rival contentions of the parties and perused the materials available on record. The additional ground raised by the assessee is legal in nature and therefore the same can be raised at any stage in pursuance to the judgment of the Hon'ble Supreme Court in the case of NTPC Ltd. (supra). 6.1. Hence we admit the additional ground of appeal raised by the assessee and proceed to adjudicate the same. 7. The only issue raised by the assessee in her grounds and additional ground is that the learned CIT(A) erred in confirming the addition in part amounting to ₹ 90,000 on account of unexplained investment. 8. The facts in brief are that the assessee in the present case is an individual. The case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowed the appeal of the assessee in part. 12. Being aggrieved by the order of the ld. CIT-A, the assessee is in appeal before us. 13. The learned AR before us filed a paper book running from pages 1 to 40 and contended that the assessee has duly explained the source of the investments amounting to ₹ 4,59,771/- before the authorities below. As such, the assessee is not under the obligation to explain the source of source i.e. source of money available in the hands of the husband. 13.1. The learned AR further contended that the learned CIT(A) has exceeded his jurisdiction by confirming the addition to the tune of ₹ 90,000 as the impugned issue is not arising from the order of the AO as it was the case of limited scrutin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o note that the AO in his remand report has also admitted the fact that the impugned investments has been made through the fund received from the husband of the assessee. The relevant finding of the AO in the remand report is stands as under: Without prejudice to the above regarding admissibility of additional evidences, it is seen that the investment in shares was made by Shri Anil Macwan, husband of the assessee in the name of assessee from his bank account and entry of cheques given to share broker is also reflected in ADC Bank account of Shri Anil Macwan. 15.5. From the above, we hold that the assessee has discharged her duty by disclosing the source of fund in the investment of securities. Accordingly, there cannot be any addit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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