TMI Blog2022 (11) TMI 383X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal by the assessee is directed against the order of the Ld. CIT(A) Karnal, dated 12.11.2018 pertaining to Assessment Year 2012-13 2. Grounds of appeal read as under 1. On the facts and circumstances of the case, the order passed by the learned CIT(A) is bad, both in the eye of law and on the facts. 2. On the facts and circumstances of the case, Id. CIT(A) has erred both on facts and in law, in rejecting the contention of the assessee, that the initiation of the proceedings under Section 147, read with Section 148, made by A.O. is bad and liable to be quashed as the condition and procedure prescribed under the statute have not been satisfied and complied with. 3. On the facts and circumstances of the case, Id. CIT(A) has erred both on facts and in law, in rejecting the contention of the assessee, that the reassessment proceedings initiated by the learned A.O. are bad in the eye of law as the reasons recorded for the issue of notice under Section 148 are bad in the eye of law and are contrary to the facts. 4. On the facts and circumstances of the case, Id. CIT(A) has erred both on facts and in law, in rejecting the contention of the assessee, that the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing initiated by your honorable office against me. 5. The Assessing Officer asked the assessee to provide the details of income, land purchased and sold, etc. It was also enquired from the assessee to explain the source of the cash deposits of Rs.73,99,000/- in the saving bank account. Further, the Assessing Officer enquired about the complete copy of registration deed of the land sold and deposits in the saving bank account. The assessee s response in this regard were noted by the Assessing Officer as under: I Sarla Devi w/o Late Sh. Mehar Singh hereby want to bring to your notice that I have given reply to all notice or letter whichever is received. I have copy of all of my submission either in Ward-5 or at the time of Investigation. Further I have submitted the relevant papers for your kind perusal. I have submitted to you the copy of certificate of sale of agricultural land at VPO - Data, Tehsil -Hansi, Distt-Hisar. I have submitted to your office copy of bank statement for the year under scrutiny. I have submitted to you the copy of FDR made in my name of Rs.60,00,000.00. The source of above FDR of 60 lacs is the advance money received from buyer of abov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and agricultural income. The Ld. AO misunderstanding the facts of the case did not accept the explanation of the assessee and made the addition. Before the Ld. Commissioner of Income Tax (Appeals) [CIT(A)] the assessee made detailed explanation regarding the cash deposits and also filed additional evidences to prove the source of cash deposit. The Ld. CIT(A) sent the matter before the Ld. AO in remand. The detailed remand report of the Ld. AO was received (PB Pg. 13). The Ld. CIT(A) without giving much independent findings, relying on the remand report filed by the Ld. AO, confirmed the addition made by him. Relevant findings of the Ld. CIT(A) are at PB Pg. 16 onwards of the order. The assessee had deposited during the year under consideration an amount of Rs.73,99,000/- on various dates, the details of which are at Para 3.2of the Ld. AO s order. The assessee is not denying the fact of the cash deposit and the copies of bank statement are placed at PB Pg. 30 to 38. The explanation of the assessee with respect to the cash deposits can be explained from the cash flow statement placed at PB Pg. 39. The explanation given by the assessee was that the last two e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posit remains the receipt of advance only. 10. Per contra, the Ld. DR relied upon the orders of the authorities below. 11. Upon careful consideration, we find that the first reason for the Assessing Officer to disbelieve the assessee s explanation is that the final sale deed and Ekrarnama are in different name. We note that it is a common practice to make Ekrarnama and final sale deed in different names but in both sale deed and Ekrarnama, there is mention of cash given to the assessee which sufficiently covered the deposits. The sale deed duly mentioned that Rs.32,000/- was received by cheque on 11.12.2012. Further, it also acknowledges the cash received at home of Rs.96,75,000/- . Thus, amount mentioned in the sale deed clearly covers the deposit. The Assessing Officer also accepted that there is mention of cash receipts but he has taken adverse inference as the purchasers did not respond to his notice u/s 133(6) of the Act for confirming the date of cash payment. Further, the Assessing Officer took adverse inference that the assessee could not produce the person before the Assessing Officer. 12. Upon careful consideration, we find that the assessee had submitted the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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