9911796707
TMI Blog2021 (10) TMI 748X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee's explanation that assessee being a pure agriculturist having no other source of income the deposit of cash was out of sale proceeds of agriculture land. 4 That the Id. ClT(A)-Amritsar has erred in law' and on facts in ignoring the fact that the department has failed to make any trail of cash deposit to any other source of income. 5 That the order is bad in law and on facts. 6. That the appellant craves leave to add or amend the grounds of appeal before the appeal is heard and disposed off. 2. Briefly facts as per record are thatNotice u/s 148 of the Act was issued on 27.03.2015 for the reasons that during F Y 07-08, the assessee had deposited cash of Rs. 54,16,960/- in his saving bank accounts maintained with the ICICI Bank, Sarhali Road. The assessee was required to explain the source of cash credits in his bank accounts with ICICI Bank Ltd, account no.502512 and account no. 500445 wherein a total cash of Rs. 68,03,046/- was deposited. The assessee stated that he is purely an agriculturist and that the cash deposits were out of sale of agricultural land measuring 72 K 18 M made by him and his brother for a total consideration of Rs. 1,24,92,700/- His shares ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the AO. 5. The Ld. AR further argued that cash of Rs. 30.00.000, - was deposited on the date of registration itself,as the appellant has no other source of income, it would be fair to presume that the cash of Rs. 30,00.000 - was received from sale of land only and as per the registered sale deed dated 11.05.07, the land was shown to be sold for Rs. 23,26,000/- The sale consideration is stated in the registered deed to have been received through two cheques. Rs. 11,63,000/- each. One of the cheques has been deposited in the bank account no.500445 of the appellant on 15 05.07 "by clearing". In adition, he stated that there are cash credits made as under: Date Mode Amount 09 04.07 By cash Rs. 2200'- 21 04.07 By cash Rs. 50,00,000 - 11 05.07 By cash Rs. 3,000,000/- 13.06.07 By cash Rs. 33,000/- 20.06.07 By cash Rs. 6,00,000/- 26.06.07 By cash Rs. 10,000/- 21.07.07 By cash Rs. 2,00,000/- 23.07.07 By cash Rs. 25,000/- 24.07 07 By cash Rs. 1 1.500 - 18 08 07 By cash Rs. 20,000 - 06.09.07 By cash Rs. 25,000 - 07.0907 By cash Rs. 3,000 - 24 10.07 By cash Rs. 8,000/- 23.11.07 By cash Rs. 8,90,000/- 03.12.07 By cash Rs. 11,760/- 24.03. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e detail of agriculture land sold and the rate at which the land was sold vide two Sale Agreements. One for 49 kanal and second for 20 kanal 3 maria. Copy of Sale Agreements and copy of Sale Deed was also filed along with the reply. 9 It was explained that buyer of land got Sale Deed executed for Rs. 2326000 vide Sale Deed dated 11.5.2007 which was paid by the buyer to the two brothers by cheque. The cheque of Rs. 1163000 received by the assesse is lying credited in the assesee's bank account. 10 Before the execution of Sale Deed the assesee had received the balance amount of his share in cash out of which he deposited in the bank Rs. 30 lacs on 11.5.2007 and the balance amount was deposited on different dates. 11 Copy of Sale Deed executed by the assesse and his brother in favor of Kamaljit Singh and copies of Agreements executed in favour of Kamaljit Singh @ Rs. 1385000 per acre dated 12.4.2007 are enclosed. Copies of the same were also filed with AO & CIT(A). 12 The AO required the assessee to produce the buyer and in response to the same the assesse submitted that buyer is not directly known to him and the department may directly ask the purchaser and make the necessary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y other source of cash deposit in the bank of assessee. 21 The ld.CIT(A) in her order confirmed the addition primarily on same grounds on which the addition was made by AO. The ld.CIT(A) has stated in her order that Sale Deeds executed between the buyer and seller has higher evidentiary value than Sale Agreements. 22 There is no denying the fact that the Sale Deeds executed between the buyer and have full legal entity as they are executed in writing between the seller and buyer in the presence of two witnesses duly signed by all. 23 Moreover, the assessee had conveyed to the AO that he may summon the buyer to confirm the contents of the sale agreements. It was also requested that in case the AO has any doubt to refer the sale agreements, which are signed by the buyer also, to handwriting experts for matching the signatures of buyer on the sale deed as well as on sale agreements. The assesse himself has no authority to force the appearance of buyer before the AO whereas the AO has all the authority to force the presence of buyer to conform the facts of the case and genuineness of the sale agreements. 24 In view of the above facts the major portion of the cash deposited was m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esses. The question before us is to decide whether the value of sale of agricultural land shown in the unregistered agreements viz~a~viz sale deed duly supported with the affidavit of the assessee is true to explain the source of cash deposit in the ICIC bank account of the assessee as above. We have gone through these documents and other submission made by the assessee, however in our considered opinion, the competent authority in this regard is the ld. CIT(A)who had just rejected the evidentiary value of the unregistered sale agreements without examine the facts and rebuttal of AO in terms of apparent may not be real always. He merely held that such a recourse by the appellant is not permitted in law as per provisions contained in chapter VI of the Indian Evidence Act, 1 872, which prohibits admission of oral evidence to contradict the contents of a contract reduced into writing and registered as per law subject to certain exceptions like fraud, misrepresentation, etc. Such approach of the Ld. CIT(A) can not be justified and approved. He was required to examine the veracity of the unregistered documents by way of verification from the witnesses, Sh. Kavar Jeet Singh, Purchaser of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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