TMI Blog2023 (7) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... eceived Rs. 15 lakh as advance in lieu of agreement to sell his land which he had given to the assessee for purchase of land. The stand of the assessee is that the sum received from Shri Duli Chand for propose sale of land was deposited by him in his bank account and since the deal could not be materialized the same was returned back to Shri Duli Chand - the averments made in the affidavit of Shri Duli Chand could not be rebutted by the Revenue - Decided in favour of assessee. - ITA No. 9011/DEL/2019 - - - Dated:- 14-7-2023 - Shri Kul Bharat, Judicial Member For the Assessee : Sh. R.K. Phalswal, Adv. For the Department : Sh. Om Parkash, Sr. DR. ORDER PER KUL BHARAT, JM: This appeal, by the assessee, is direct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ash deposited by the assessee amounting to Rs. 1,95,20,000/- in his savings bank account held with HDFC Bank, Bhawal during the F.Y. 2012-13. Therefore, the case of the assessee was reopened to examine the source of cash deposits. In response to statutory notices the assessee filed his return of income declaring total income at Rs. 2,90,800/-. Thereafter, assessment u/s 143(3) read with section 147 of the Income-tax Act, 1961 (the Act ) was framed vide order dated 26.12.2016. Thereby the Assessing Officer, after considering the submissions of the assessee, treated a sum of Rs. 16,36,441/- as unexplained and added the same to the income returned by him. Thus, the AO assessed income at Rs. 19,26,941/-. Aggrieved against this the assessee pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ort the assessment was reopened on the ground of the cash deposited by the assessee. Therefore, it is not the case where the AO has made addition in respect of unrelated issue. The assessee failed to explain the source of cash deposits. The assessee s plea is that part of the cash was received from one Shri Duli Chand. Therefore, he submitted that the case laws as relied upon the learned counsel for the assessee would not help. 6. I have heard the rival contentions and perused the material available on record. I do not find any merit in the contention of the assessee that the reopening is illegal and is not based upon the reasons recorded by the Assessing Authority. Undisputedly, additions are made on the basis of cash deposited by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The stand of the assessee is that the sum of Rs. 15,00,000/- received from Shri Duli Chand for propose sale of land was deposited by him in his bank account and since the deal could not be materialized the same was returned back to Shri Duli Chand. The learned CIT(A) after considering the remand report sought from the AO, rejected the claim of the assessee. Considering the totality of facts of the present case and the fact that the averments made in the affidavit of Shri Duli Chand could not be rebutted by the Revenue, I am constrained to delete the addition made by the AO on account of unexplained cash deposited by the assessee. Ground no. 4 of the assessee s appeal is allowed. 10. Ground nos. 5 6 are general in nature and need no a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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