TMI Blog2024 (1) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... is deleted. Cash gift received from the father of the assessee - In the case of the father, admittedly, no return of income has been shown whereby the father of the assessee had shown to given as cash gift to the assessee. In the absence of any return of income or any other document to prove the cash gift, it cannot be assumed that the father of the assessee has given Rs. 2,40,000/- as gift to the assessee. There is no evidence to show that the father of the assessee had given Rs. 2.40 lakhs as a gift to the assessee. The plea of the assessee is self-serving and is not tenable. Further, during the course of hearing, though the bench has directed to restrict the addition being the amount deposited in the prescribed specified bank notes, however, while finalizing the order, the facts of non-filing of return of income and expiry of father of the assessee were noticed however, the said facts were not been brought to my notice previously, and therefore, uphold the addition made by the Assessing Officer. Cash withdrawal from the firm as partner of the firm and saving cash available on hand deposited - As AO and CIT(A) had not disputed the fact that amount of Rs. 5 lakhs wer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified not considering the evidences submitted by the appellant for sources to explain the deposits in the bank accounts. 5. The Learned First Appellate Authority is not justified not considering the fact that the appellant had sources to explain the deposits in the bank accounts. 3. Facts of the case, in brief, are that assessee is an individual filed his return of income for A.Y. 2017-18 on 01.03.2018 declaring a total income of Rs. 17,67,960/-. Subsequently, the case was selected for Limited Scrutiny through CASS and accordingly a notice u/s 143(2) was issued on 06.09.2018 and duly served on the assessee. Subsequently, a notice u/s 142(1) dated 25.07.2019 was issued and served on the assessee on 27.07.2019 requiring him to furnish a copy of ITR-V along with return of income, statement of income relevant to AY 2017-18, balance sheet, profit and loss statement and audit report u/s 44AB, if any. 3.1. After examining the details and submissions furnished by the assessee, Assessing Officer observed that assessee has made cash deposits of Rs. 18,05,200/- on various dates throughout the financial year 2016-17 starting from 11.04.2016 through 28.03.2017 into his bank accou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Specialty Hospital, there has to be some reason for withdrawal of the amount and merely saying that the amount was available and therefore, he has withdrawn and shown it in deposits in his bank account did not leads to any credence more particularly, when the amount has not been reflected in the books of account of the said firm. 8. On a pointed query, ld. AR submitted that after withdrawing the amount from the account of M/s. Apollo Multispecialty Hospital Firm as it was adjusted against the salary income / adjusted towards the capital account of the assessee in the firm. Further, on enquiry, ld. AR submitted that out of the sum deposited, Rs. 99,000/- after receiving from his father, were deposited in the Specified Bank Notes (prohibited notes). 9. I heard both the parties and perused the material available on record. Firstly, I will deal with the issue of gift received at Rs. 10 lakhs by the assessee from his wife on various dates. Addition of Rs. 10 lakhs : With respect to cash gift from wife Dr.J. Radha of Rs. 10 lakhs is concerned, ld.CIT(A) in page 7 of his order has decided as under : 1. Cash gift from wife Dr. J. Radha of Rs. 10.00 lakhs: During th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s wife and also the return of income showing the gross total income of Rs. 22,96,219/- during the assessment year under consideration, assessee discharged his onus. In the said confirmation, the wife of the assessee had submitted that Rs. 10 lakhs were given by her to her husband as gift. In my opinion, the wife of the assessee falls within the exempt category of relative as mentioned under section 56(2)(vii) of the Act and even otherwise, once the wife admits to have given the cash of Rs. 10 lakhs to her husband, the Revenue cannot object to the said gift. As the Revenue cannot disbelieve the confirmation given by the wife and moreover, the Revenue had accepted the return of income filed by the wife of the assessee showing Rs. 10 lakhs as cash gift to her husband. In view of the above, the addition of Rs. 10 lakhs is deleted. 10. Addition of Rs. 2.40 lakhs With respect to the second issue i.e., cash gift received from the father of the assessee at Rs. 2.40 lakhs, the ld.CIT(A) has decided the issue by observing as under : 2. Cash gift from father Rs. 2.40 lakhs: The appellant claimed to have received a cash gift of Rs. 2.40 lakh from his late father as an act o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... specialty Hospital as partner of the firm Rs. 5 lakhs and saving cash available on hand deposited Rs. 65,000/-, ld.CIT(A) at page 8 of his order has decided the issue by observing as under : 3. Appellant mentioned that appellant and his wife are only the partners in firm M/s Apollo multi specialty hospital and the appellant had withdrawn money from the firm to meet his commitment. In this connection, appellant has submitted confirmation letter from the firm. However, appellant has not submitted any supporting document to substantiate the withdrawal of Rs. 5 lakh from the firm. Further, appellant has submitted that he has deposited Rs. 65,200/- from the cash balance in hand for emergencies and contingences. As the primary onus of the same lies with assessee and the assessee has not submitted the documentary evidence to substantiate the receipt of cash deposit, I find that the AO is justified in disallowing the alleged cash withdrawals. 11.1. In this regard, ld. AR has submitted that the assessee and his wife are only the partners in the aforesaid partnership firm and that assessee had withdrawn money from the firm to meet his commitment and that Assessing Officer and did ..... X X X X Extracts X X X X X X X X Extracts X X X X
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