TMI Blog2016 (7) TMI 1655X X X X Extracts X X X X X X X X Extracts X X X X ..... any documentary evidence forming part of the case file in this regard. We agree with the CIT(A) in this peculiar backdrop of facts that the assessee s revised statement is liable to be rejected. It is made clear that there is no argument on assessee s part qua his latter substantive ground. Nor is there any evidence or legal plea raised to controvert the CIT(A) s findings on enhancement issue. We find no reason to interfere with the order of the CIT(A). Assessee appeal dismissed. - ITA No. 703/Ahd/2016 - - - Dated:- 26-7-2016 - Shri Pramod Kumar, Accountant Member and Shri S. S. Godara, Judicial Member Revenue by: Shri Satish Solanki, Sr. D.R. Assessee by: Shri S.N. Divetia, A.R. ORDER PER : S. S. GODARA, JUDICIAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t at Surat. The assessee had admittedly not declared the same either in return or in books of accounts. The Assessing Officer added peak of Rs. 1,43,601/- along with 20% of gross figure of Rs. 3,22,713/-; totaling to Rs. 4,66,318/- in assessee s hands vide assessment order dated 01-03-2013. 4. The assessee preferred an appeal. The CIT(A) issued an enhancement notice dated 14-08-2014 u/s. 251(1)(aa) r.w.s. 251(2) of the Act inter alia on the ground that the Assessing Officer had not adopted correct figure of the above stated peak addition amount. 5. The assessee submitted his reply clarifying that he had agreed only for peak credit figure of Rs. 1,43,601/- and not qua 20% component (supra). We find from CIT(A) s order that he did not f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per Return of Income (Salary Income and Interest Income) Cash deposit in OBC account No. Period of cash ; deposit (FY) 2008-09 19.08.2008 Rs. 1,10,450/- Rs. 5,07,182/- 16.01.2008 to 28.03.2008 (FY 2007- 08) 2009-10 15.12.2009 Rs. 1,58,750/- Rs. 10,32,600/- 03.04.2008 to 17.03.2009 (FY 2008-09) 2010-11 17.02.2011 Rs, 1,56,790/- Rs, 16,13,588/- 17.04.2009 to 31.03.2010 (FY 2009- 10) 2011-12 12.10.2011 Rs. 1,58, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces are 'make believe' arrangement. Hence, the entire cash deposit of Rs. 16,13,588/- is being treated as undisclosed and added to the income of the appellant. The addition made by the AO in the assessment order of Rs 4,66,316/- on account of peak balance and 20% of cash deposit is being enhanced to Rs. 16,53,600/- under the provisions of section 251(1) r.w.s. 251(2) of the Act. The AO is being directed to issue the demand notice accordingly. As this Order of the Enhancement merges with the assessment order, no separate penalty proceedings u/s 271(1)(c) of the Act, is being initiated during the appellate proceedings as the AO has ready initiated the penalty proceedings u/s 271(1)(c) r.w.s. 274 of the Act in the assessment order on t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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