9911796707
TMI Blog2023 (5) TMI 1174X X X X Extracts X X X X X X X X Extracts X X X X ..... arned counsel of assessee, the copy of order of ld. CIT(A) dated 21.01.2020 was received belatedly and the appeal should have been filed latest by 27.03.2020 but the lockdown due to pandemic of Covid-19 was started from 23.03.2020 and appeals could have been filed only on 27.11.2020 by the delay of 237 days therefore in view of order of Hon'ble Supreme Court dated 27.04.2021 bearing miscellaneous application no. 665/2021 in suo moto Writ Petition, SMW(C) No. 3/2020, the Hon'ble Supreme Court of India has again restore the order dated 23.03.2020 and in continuation of the order dated 08.03.2021 direct that the period of limitation as prescribed under any general or special law in respect of all judicial or quasi-judicial proceedings, whether ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee successfully demonstrated an established the source of cash deposits during assessment as well as first appellate proceedings. 5. The learned counsel also submitted that the assessee is an individual and having income from agricultural sale proceeds and being earning an exempt income and no return for the said impugned year has been filed. However, the case of the assessee has been reopened vide notice date 22.03.2018 w/s 148 of the Act where the amount of Rs 17,50,000/- has been deposited in the saving bank account maintained by assessee with HDFC Bank bearing account no 04591570002719 and the said amount has been treated as unexplained income and has been charged w/s 69A of the Act. It is submitted that the assessee has filed subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Smt. Ratni as the advance against the sale of land on 18.10.2010 and the same was deposited in the joint bank account with Sh. Ram Kishan and the balance Rs.20,00,000/- was deposited in the bank account of their son Sh. Dinesh. It was the arrangement between the parties that the amount of Rs.40,00,000/- paid in cash as advance will be refunded after receiving the entire consideration amount of Rs. 1,82,00,000/- in bank. Further, to the said understanding, the cheque of Rs. 14,76,087/- and Rs. 1,24,00,000/- was received by Smt. Ratni qua the Sale Deed dated 08.12.2010 and later was deposited in the joint bank A/c of Sh. Ram Kishan (assessee and Smt. Ratni on 10.12.2010 and 08.02.2011 respectively (Balance Rs. 43,23,913/- was received in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the withdrawals therefore the addition of Rs. 17,50,000/- made by the AO do not survive. The ld. counsel also submitted that the assessee was having joint bank account with his wife Smt. Ratni Devi who sold agricultural land jointly owned with sister of wife Smt. Sona received advance in cash of Rs. 40 lakh from the purchaser on the condition that the cash will be returned at the time of completion of transaction of sale of land and entire consideration against sale of land will be given by the purchaser to the seller that is Smt. Ratni and her sister Smt. Sona through cheque or draft. The learned counsel submitted that the above understanding wife of assessee received Rs. 40 lakh in cash out of which Rs.20 lakh was deposited to the joint b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lanation of the assessee entire addition including enhancement may kindly be deleted. 8. Replying to the above, the learned Senior DR supported the orders of the authorities below and submitted that since the assessee could not explain source of cash deposit therefore entire addition may kindly be upheld. 9. On careful consideration of above submissions, first of all, I note that the ld. Senior DR have not controverted the factual position stated by the learned counsel of the assessee and noted in the earlier paragraph 6 of this order. From the copy of the bank statement available at page 11 of the assessee paper book it is clear that the assessee was having a joint bank account with his wife Smt. Ratni Devi in HDFC Bank wherein Rs. 20 la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see during period from 19.10.2010 to 25.02.2011 within the financial period of from 01.04.2010 to 31.03.2011 there was cash deposit of Rs. 37,50,000/- and cash withdrawals of Rs. 96,26,000/- therefore the amount of cash deposit is much lesser than the withdrawals therefore the addition of Rs. 37,50,000/- made by the AO do not survive. It is also pertinent to note that in the beginning on 19.10.2010 there was first deposit of Rs. 20 lakh and thereafter total cash of Rs. 17,50,000/- were deposited on five occasions. This fact has not been controverted by the authorities below that the wife of assessee Smt Ratni Devi along with her joint owner sister Smt. Sona sold agricultural land and part payment of Rs. 1,24,00,000/- was deposited through c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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