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TMI Blog2022 (11) TMI 728X X X X Extracts X X X X X X X X Extracts X X X X ..... legal, unlawful and against the principles. 1.2 That in the facts and circumstances of the case as well as in law, the Ld. CIT (A) erred in not considering fully and properly the evidence produced by the appellant. The Ld. CIT(A) ought to have considered that there was reasonable and sufficient cause for alleged non-compliance in as much as that appellant met with an accident so that he could not comply to the notices. 2.1 That in the facts and circumstances of the case as well as in law, the Ld. CIT (A) has grievously erred in upholding the addition of Rs. 16,63,000/- towards cash deposits as unaccounted income. 2.2 The Ld. CIT(A) has erred ought not to have made addition of Rs. 16,63,000/- towards cash deposits as unaccounted inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e company. The Ld. A.R. submitted that during the year under consideration the assessee received gross income of remuneration of Rs. 1,66,280/- out of which deduction of Rs. 73,941/- which claimed under Chapter vi(a) of the Act. The Ld. A.R. submitted that the assessee made withdrawal of unsecured loan lying in the company Excel Health Care Pvt. Ltd. for which the assessee submitted audited balance sheet of the company wherein unsecured loan has been reflected. The assessee submitted salary certificate issued by Excel Health Care Pvt. Ltd. for payment of Directors remuneration amounting to Rs. 1,67,000/-. The Ld. A.R. submitted that the Assessing Officer has not carried out any independent enquiry and doubted the genuine return of income wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Health Care Pvt. Ltd. were also asked the details but it clearly stated that no interest has been paid to the assessee in F.Y. 2007-08 and company did not made any transaction with the assessee in cash except the transaction entered into F.Y. 2007-08. Thus, from the perusal of the records it can be seen that the assessee has not given the evidence related to cash deposits before the Assessing Officer as well as before the CIT(A) and the explanation by the assessee during the assessment proceedings as well as during the appellate proceedings were inadequate. The ledger account of Excel Health Care Pvt. Ltd. is inadequate to show as to why the cash deposits have been made by the assessee. Hence, the appeal of the assessee is dismissed. 9. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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