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TMI Blog2006 (9) TMI 167X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal was right in law in sustaining the addition of Rs. 1,10,000 introduced by the assessee in its books of account on November 9, 1973, under the narration 'cheque from Punjab National Bank, Tohana' ?" 2. During the course of examination of the cash book of the assessee relating to the assessment year under consideration, the Assessing Officer found that the assessee had introduced cash amounting to Rs. 1,10,000 received from the Punjab National Bank, Tohana. On verification from the bank, it was found that the payment from the bank had been received on November 12, 1973. The Assessing Officer noticed that the assessee needed money on November 9, 1973, for making payment to different parties and had, therefore, introduced its unexp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 73. The records of the bank also confirmed his statement. The assessee's account in the bank was also debited on November 12, 1973. The stamped dated of passing the cheque is also November 12, 1973. On the fact of this evidence, on the earlier letter issued by the manager on July 19, 1978, the assessee procured the letter from the bank manager for the purpose of producing the same before the IAC in proceedings under section 144B of the Income-tax Act probably under the impression that his words were final. When he was put to cross-examination by the Income-tax Officer, he fumbled and made the correct statement which also tallied with the records of the bank. With regard to the statement made by Shri Lakhi Ram, we are of the opinion that no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 78, certifying that he had in his discretion allowed the payment to be made in cash after banking hours on November 9, 1973 and had put the date 12th on the cheque in his own handwriting and the repeated confirmation of Shri Lakhi Ram, cashier that the payment was made by him on November 9, 1973, itself after banking hours and that a certain omission in writing the date on the cheque was made by him, which could have been committed by anybody, I would hold that the payment of cheque amounting to Rs. 1,10,000 was made by the bank against the abovemenitioned cheque on November 9, 1973, itself. What gives credence to the entire situation is the fact that the entry regarding payment of Rs. 1,10,000 on November 9, 1973, after banking hours is re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned counsel for the assessee is that the assessee had no occasion for making entry one day before. There was no compulsion for the assessee to make entry of receipt and payments on November 9, 1973, instead of November 12, 1973. The assessee had entered in the books of account the transaction which had actually taken place on the date of transaction of his own. It had come on record that the then branch manager had stated that he had exercised his discretionary power in making payment to the assessee on November 9, 1973, after the banking hours and the same was entered in the books of the bank as payment on November 12, 1973, as first entry. The same was corroborated by the then cashier. Though, in his examination before the Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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