TMI Blog2023 (8) TMI 1418X X X X Extracts X X X X X X X X Extracts X X X X ..... s assessee does not maintain any books of account and the cash was found to be deposited in the bank account, therefore, provisions of section 68 of the Act do not apply - HELD THAT:- There is no dispute that some land was sold at Meghalaya in 1989 for a consideration of Rs.24.50 lacs. It is also not in dispute that the sale consideration was kept by the cousin brother of the assessee at Meghalaya ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... K. BILLAIYA, ACCOUNTANT MEMBER AND SH. YOGESH KUMAR US, JUDICIAL MEMBER For the Appellant : Sh. K. Sampath, Advocate Sh. V. Rajakumar, Advocate For the Respondent : Sh. Vivek Kumar Upadhyay, Sr DR ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-34, New Delhi dated 26.03.2019 pertaining to A.Y.2007-08. 2. The solit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... why there were deposits in amounts less than Rs. 50,000/-. In so far as the first querry is concerned the assessee replied as under :- 5. In respect of the second querry it was replied that the bank charges, handling charges of cash deposit exceeding Rs.50,000/-, therefore, to avoid bank charges cash was deposited in amounts less than Rs.50,000/-. The explanation of the assessee did not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... operative part of the assessment order. 10. We have given a thoughtful consideration to the orders of the authorities below. There is no dispute that some land was sold at Meghalaya in 1989 for a consideration of Rs.24.50 lacs. It is also not in dispute that the sale consideration was kept by the cousin brother of the assessee at Meghalaya. What is not understandable and is beyond the human pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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