9911796707
TMI Blog1989 (2) TMI 152X X X X Extracts X X X X X X X X Extracts X X X X ..... bank account No. 3195 standing in the name of Smt. Kanta Narula wife of the assessee. The factum of deposit was discovered during a search held on24th March, 1981at the premises of the assessee. The assessee's explanation was that his wife Smt. Kanta Narula was having an independent source of income as she was carrying on business of stitching ladies and children garments and that the money was deposited by her out of her savings from the income of said business. It was also pointed out that Smt. Kanta Narula had been assessed to income-tax for asst. yr. 1973-74 onwards which shown that she had an independent source of income. The learned ITO did not accept the assessee's contention and he held that the said amounts came out of the present ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed a return of income at the instance of her husband, which is simple case of capital formation. 6. There is no tangible proof to show that Smt. Kanta Narula was actually engaged in sewing and knitting work and was receiving any income therefrom. 7. No intelligent lady of a prudent business man and a man of status would like to keep such a huge amount lying at home. 8. The fact of her being engaged in sewing and knitting job that also on such a large scale cannot be secret from his husband. 10. Even if somebody is assessed to income-tax, there is no bar to investigate as to who is the real owner of the income assessed. From the facts narrated above, it may be seen that facts in this case are same as in the case of Shri Raj Kumar whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opened under s. 143(1)(b) and thereafter the income of Rs. 15,160 as declared was assessed on protective basis. Assessments for asst. yrs. 1981-82 and 1982-83 were set aside by the Commissioner under s. 263 and for asst. yr. 1980-81 these credits were held not to belong to the assessee (Smt. Kanta Narula) though the assessment was made on protective basis with the reservation that the two amounts in question will be assessed in the hands of the present assessee. Thus the assessments made on Smt. Kanta Narula have lost must of their evidentiary value. 4. As regards the factum of Smt. Kanta Narula being engaged in the business of tailoring there was no tangible evidence on record. Admittedly a search took place at the residence of the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see for his business. A sale deed of the said shop is not shown to have been executed and we do not know whether the ultimate transaction was effected in the name of the assessee or his wife. Thus the circumstances reasonably indicated that the deposits in question came out of the assessee's income and not out of the alleged income of Smt. Kanta Narula. 6. It is important to note that although the bank account in the name of Smt. Kanta Narula was in existence for several years past, almost the entire income is claimed to have been kept at home and that too unutilised. This is quite unnatural. A house wife who has an urge to earn income and be economically independent and who for that purpose engages hereself in a small tailoring business w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar 1979. His father is an affluent businessman and there was no need for him to borrow money from his uncle who is said to have been living at Dehradun. Patently he was purchasing motor vehicles which were not a necessity for him and no uncle would help a small child by lending him money without consulting to boy's father. The borrowing of money is not evidenced by any documents. The learned counsel for the assessee could not convince us how the findings of the authorities below could be said to be erroneous. We, therefore, uphold that the three vehicles in question were the property of the assessee and the source of acquisition thereof remained unexplained. We, therefore, uphold the addition of Rs. 21,600. 8. Lastly the learned counsel fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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