9911796707
TMI Blog2022 (12) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... anated from the order of the ld. Income Tax Officer Ward-4(3), Amritsar, (in brevity the AO) order passed u/s 143(3)/147/148 of the Act date of order 30.03.2014. The assessee has taken the following grounds which reads as under: "1. That the Ld.CIT(A)-2, Amritsar has erred in law and on facts in confirming the addition of 17,70,000 being the amount of deposits in the Bank. 2. That the Ld.CIT(A)-2, Amritsar has erred in law in confirming the addition of Rs.17,70,000 made r. the AO u/s 68 of the Act being the amount of deposits in the Bank which is beyond jurisdiction and is void ab initio. 3 That the order is bad in law and on facts. 4. That the appellant craves leave to add or amend the ground of appeal before the appeal is heard an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as detailed in the assessment order during F Y 2005-06 was Rs 17,70,000/-. The AO did not allow any credit for the cash accruals from the year 1994-95 as the assessee had not shown any direct nexus with cash deposits made during the year 2005-06 and it was unbelievable that assessee would keep cash at home for such long time. The AO did not accept the contention of the assessee that cash credits represented sales from retail business of cloth as no debits in respect of purchase are there. Therefore, the cash deposits had remained unexplained. Therefore, the AO added back all the credits totalling to Rs 17,70,000/- to the total income u/s 68. On merits the assessee stated that the appellant was the owner and in possession of agriculture la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the purchaser after development of the colony. The appellant stated that the total payment on account of sale receipt of properties continued to be received in instalments till 2005-06 and were deposited in his bank account. That out of the said deposits the assessee gave a loan of Rs 5 Lacs to one to Gurnam Singh on 14-01-2006 by cheque. The appellant had however not furnished even single evidence of receipt of sale consideration of the said properties in the shape of plots, the mode of receipt of sale consideration, the amount of sale consideration received piecemeal, the date of receipt and the evidence of sale of such plots. Moreover in the appeal proceedings the undersigned had issued summons u/s 131(1) dated 08-03-2017 to M/s Shar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities. The assessee was the employee of the Indian Railway and nature of income was salary. The cash was deposited in different dates in bank account but the assessee was unable to explain the same before the ld. AO. Before the ld. CIT(A), the explanation was filed that source of deposit is related to sale of agricultural land. But the assessee was unable to bring the evidence before the ld. CIT(A) and not able to take any cognizance material to substantiate its source of cash deposit in bank account. In ITAT, the assessee reluctant to submit the relevant evidence before the bench, we find that the assessee was fully non cooperative from the end of completion of appeal proceeding. There is no substantial evidence for depositing cash in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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