TMI Blog2022 (10) TMI 225X X X X Extracts X X X X X X X X Extracts X X X X ..... assesses arguments completely. Now before us the assessee has produced certificates from the Bank denying existence of any such Bank accounts. This is a very crucial piece of information for adjudicating the issue at hand. And as noted above the assessee was barely provided any opportunity to produce it before the Ld.CIT(A).These evidences now filed by the assessee before us are therefore being admitted by us for adjudicating the issue. Assessee has explained source of cash deposited in their bank accounts, as has being related to the moneys which they had earlier lent to friends and relatives in India by transferring to them through Western Union and had substantiated the explanation by producing documents evidencing transfer of money by the assessees through Western Union. Even these evidences have not been properly appreciated by the authorities below. The assessees had stated to the authorities below that both of them were senior citiziens and had moved to USA way back in 1997-98. That they used to come to India only for brief visits. That on requests from relatives they had on several occasions transferred money to them through Western Union. And when they visited In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash found deposited had been made in the hands of both the assessee. The ld.counsel for the assessee, therefore, contended that since his arguments would be common in both the assesses appeals therefore both appeals needed to be heard together. Ld.DR had no objection to the same. 3. Ld.Counsel for the assessee thereafter began with drawing our attention to the facts of the case. He pointed out that in the case of both the assessees reassessment proceedings, u/s 147 of the Act, for the impugned year were initiated after almost a gap of six years, on 30.3.2018, for the reason that cash was found deposited in the bank accounts which were in the joint names of both the assessees. In the case of the assessee, Mrs.Yaminiben Sanatkumar Bhatt ,cash to the tune of Rs.31 lakhs was allegedly found deposited ,while in the case of her husband the other assessee before us, Sh.Sanantkumar Hariprasad Bhatt , cash to the tune of Rs.26.90 lakhs was found deposited, in both cases in the HDFC and Dena Bank joint account of the assessees. The ld.counsel for the assessee pointed out that the primary assertion of the assessee before the ld.CIT(A) was that there was only one joint bank account of b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndkumar Bhatt (PAN: ACOPB2290F) against the assessment order dated 22.12.2018 made u/s.144 rws 147 for AY 2011-12 determining total income of Rs.55,55,400/- with addition of Rs.54,89,600/- has been located wherein the written submission dated 04.02.2020 have also been received in ITBA Portal. On the perusal of said assessment order it is seen that there were cash deposits of Rs. 1,00,000/-, 8,00,000/- and 7,00,000/- in Dena Bank account no.006410002153 and of Rs.5,00,000/- in HDFC Bank account no.07491930004660 and of Rs.5,00,000/- and Rs.5,00,000/- in account no.07491930000591 (held jointly with Sanatkumar H Bhatt) and purchase of shops for a consideration of Rs.20,50,000/- (the Jantri rate being Rs..23,89,600/-) which led to addition of Rs.54,89,600/- against returned income of Rs.65,800/- in the return of income filed on 25.04.2018 in response to notice dated 30.03.2018 u/s.148 of the Act. Whereas the addition of Rs.26,90,000/- in the case of the appellant Shri Sanatkumar H Bhatt is on account of cash deposit of Rs.10,90,000/- in HDFC Bank account no.70370600000131 and of Rs.16,00,000/- in Dena Bank account no.70386500000235 (held jointly with Yamini S Bhatt). Thus it is seen th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccounts jointly held in their names in HDFC Bank and Dena bank, and there were no other bank accounts operated by them. He pointed out that even the cash found deposited by the AO on different dates in both the cases tallied with the deposits in one set of bank accounts only belonging to the assessee, and his wife. He therefore pleaded that the ld.CIT(A) having gravely erred in not properly adjudicating this issue and making total addition in the hands of the assessee and his wife, the matter needs to be reconsidered by the ld.CIT(A) after appreciating all evidences filed by the assessees. He further pointed out that with regard to the source of cash deposits, it had been explained to the ld.CIT(A) that the same related to money which had been transferred to the relatives in India through Western Union and had been returned to the assessee in cash when the assessee and his wife had come to India briefly for two months in January and February, 2011. He drew our attention to the submissions in both the cases in this regard reproduced in the order of the ld.CIT(A) also. He also produced before us the evidence from Western Union showing transfer of money by the relatives from US to Ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a very crucial piece of information for adjudicating the issue at hand. And as noted above the assessee was barely provided any opportunity to produce it before the Ld.CIT(A).These evidences now filed by the assessee before us are therefore being admitted by us for adjudicating the issue. 9. Further, we have also noted that the assessee has explained source of cash deposited in their bank accounts, as has being related to the moneys which they had earlier lent to friends and relatives in India by transferring to them through Western Union and had substantiated the explanation by producing documents evidencing transfer of money by the assessees through Western Union. Even these evidences have not been properly appreciated by the authorities below. The assessees had stated to the authorities below that both of them were senior citiziens and had moved to USA way back in 1997-98.That they used to come to India only for brief visits. That on requests from relatives they had on several occasions transferred money to them through Western Union. And when they visited India briefly in the impugned year, in January February 2011, these relatives returned back some of the money earlier l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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