9911796707
TMI Blog2021 (4) TMI 676X X X X Extracts X X X X X X X X Extracts X X X X ..... rity is arbitrary bad in eye of law. 4. Because the appellant authority failed to consider the facts and evidences as submitted by the appellant during the appeal proceedings. 5. Because the CIT (Appeal) and Ld. Assessing Officer erred both on facts and in law in adding a sum of Rs. 49,670 U/s 69. 6. Because the CIT (Appeal) and Ld. Assessing Officer erred both on facts and in law in adding a sum of Rs. 5,30,120/- U/s 69. 7. Because the CIT (Appeal) and ld. Assessing Officer erred both on facts and in law in adding a sum of Rs. 1,41,800/- U/s 69. 8. Because, the CIT (Appeal) not allowed deduction u/s 80TTA of Rs. 3,097/-. They only direct to AO for the allowance the deduction U/s 80TTA, instead allow the same in appeal." 2. Groun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the order passed by the Assessing Officer and submits that since the Assessing Officer has disallowed the entire claim of expenditure and consequently made the addition of Rs. 49,670/-. Therefore, the provisions of section 69 of the Income Tax Act are applicable on the said addition. He has further submitted that the assessee has not declared the income from business activity of M/s Ashu Marketing and it was detected by the Assessing Officer during the course of assessment proceedings, therefore, the Assessing Officer has rightly made the addition u/s 69 of the Act. 5. I have considered the rival submissions as well as relevant materials available on record. There is no dispute that in the return of income filed by the assessee on 30.09 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Accordingly, the said addition of Rs. 49,670/- is directed to be treated as business income of the assessee. This ground of the assessee is partly allowed. 6. Ground No. 6 is regarding addition of Rs. 5,30,120/- on account of unexplained investment in the immovable property. The assessee has purchased any immovable property for a consideration of Rs. 5,30,120/-. The Assessing Officer asked the assessee to explain the source of said investment. The Assessing Officer made the said addition for want of any explanation on the part of the assessee. The assessee challenge the action of the Assessing Officer before the CIT(A) and explained the source as withdrawal from partnership firm M/s Soft Solutions of Rs. 9,00,0000/- which is reflected in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecord. The Assessing Officer has made the addition of Rs. 5,30,120/- on account of unexplained investment in immovable property which was purchased by the assessee vide sale deed dated 27.04.2012. The assessee has explained the source as cash withdrawal of Rs. 6,00,000/- from the Axis Bank account of the assessee on 23.04.2012. The availability of fund in the bank account is also explained by the assessee as withdrawal from the partnership firm M/s Soft Solutions of Rs. 9,00,000/- which is also reflected in the Axis Bank account of the assessee. It is manifest from the bank account of the assessee with Axis Bank that on 18.04.2012 there was a credit of Rs. 9,00,000/- by claiming of transfer from Soft Solutions the partnership firm in which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount with HDFC Bank in the name of Kumari Kavya Dwivedi and two saving accounts in the name of the assessee with the HDFC Bank and Axis Bank were not disclosed by the assessee. It was found that the cash of Rs. 58,300/- and Rs. 73,000/- were deposited by the assessee in two saving bank accounts with HDFC Bank and Axis Bank respectively. Further, the sum of Rs. 10,500/- was also deposited on bank account of Kumari Kavya Dwivedi with the HDFC Bank. The total deposits in these 3 accounts comes to Rs. 1,41,800/- which was added by the Assessing Officer to the income of the assessee u/s 69 of the Act. The assessee challenged the order of the action of the Assessing Officer. 10. Before the Tribunal, the Ld. AR of the assessee submitted that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return of income has declared. The income from medical business only and no other income was declared by the assessee. Nothing was produce by the assessee before the Assessing Officer to show the opening cash balance in hand. Therefore, the cash flow statement relied upon by the assessee cannot be accepted at this stage. He has relied upon the orders of the authorities below. 12. I have considered the rival submissions as well as relevant materials available on record. The Assessing Officer has made an addition of Rs. 1,41,800/- on account of unexplained deposits made in the two saving bank accounts of the assessee and another bank account in the name of Kumari Kavya Dwivedi. The assessee has now explained the source of these deposits as ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
