9911796707
TMI Blog2022 (1) TMI 422X X X X Extracts X X X X X X X X Extracts X X X X ..... the bank accounts have wrongly been added and the learned CIT(A) erred in confirming Rs. 3017154/- taking alleged peek amounts. 2. That peek cash credits in the bank accounts are fully not of the character of income profit earned on these alleged sales of Rs. 3017154/- into be taken. 3. That even past savings circulating in business activities have not been considered and adjusted. 4. That credit for Agriculture Income for Rs. 550000/- shown in the return have also not been given for alleged cash deposits in the bank and same may be reduced from total peek credits. 5. The appellant craves for leave to add or amend any grounds of appeal before hearings are made." (B) In this case, return of income was filed by the assessee show ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee in Form No.36, a "Statement of Facts" was also filed from the side of the assessee, which is reproduced as under: "Sobh Ram S/o Shree Dalip Singh assessee an individual is an agriculturist having self cultivated 14 acres land in village & tehsil Israna Distt. Panipat and in Madhya Pradesh. The assessee is holding form B license to property dealings vide license no. 1/2010 issued by the office of licensing authority District collector, Panipat. Small plots are purchased and further cut into small plot of 50 sq. Yard to 100/150 sq. Yard in village area for financially poor class people, Return declaring business of property dealings income at Rs. 2150 plus agricultural income at Rs. 550000/- was filed on 08.11.2014 property deal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posit & case withdrawals. 5. Written Submission made further to submission Dt. 10.01.2017 requesting to charge profit on peek amounts of the Bank Deposit with supporting cases of various benches & P&H High Court. 6. Copy of assessment order of the assessee Dt. 26.12.2018 Relating to 2011-12 Asstt. accepting cash deposits in the Bank. 7. Copy Ld CIT(A) order Dt. 30.11.2018 relating to 2009-10 Asstt. of the assessee in 1T/128/E/PPT/2016-17 accepting cash deposits in the bank & taking profit margin. 8. Case Laws 1. CIT vs. Dhani Ram 326 ITR 399 (P&H) 2. CIT Vs. President Industries 258 ITR 654 (Gujrat) 3. Income Tax Officer, Ward -4, Ambala Vs. Parmod Mittal ITA No.794/Chd/2013 Assessment Year 2009-10 (C) At the time of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A) should have considered the aforesaid plea urged by the assessee. However, this plea has not been examined or considered at all by the Ld. CIT(A). We also find that the Ld. CIT(A) has not given any finding on the assessee's plea that the agricultural income of aforesaid agricultural income of Rs. 5,50,000/- should be given credit. (E.1) We are of the view that these issues deserved to be considered more comprehensively by the Ld. CIT(A), which she failed to do; and instead she proceeded to pass a cryptic appellate order without proper analysis and without due consideration of the relevant facts. (E.2) In view of the foregoing, we set aside the impugned appellate order of the Ld. CIT(A) with the direction to pass a fresh appellate ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
