9911796707
TMI Blog1984 (6) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the past and subsequent records of the assessee and pointed out that the professional income of the assessee had never been assessed exceeding Rs. 25,000. He, therefore, submitted that the professional income estimated by the lower authorities for the assessment year under appeal was excessively high. The ld. Departmental Representative on the other hand, strongly supported the order of the lower authorities on this point. 3. Having heard the submissions of both the parties and after considering the past and subsequent records of the assessee, we are of the opinion that it would be reasonable if the professional income of the assessee is estimated at Rs. 25,000 only. 4. The next ground in the assessee's appeal is against the inclusion of Rs. 4,30,00 in the total income of the assessee. This ground is linked up with the cross-objections filed by the Revenue against the deletion of 3,05,000 which was added by the ITO as income from other sources. As a result of a search by the CBI authorities at the residence of one Shri Arun Shankar Bhaduri, managing director of Sonapur Tea Co. (P) Ltd., a piece of paper marked as Sl. No. 102 was found. The photostat copy of the piece of paper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he clients were to refund the compensation money to the Govt. and therefore, the clients thought it wise to keep deposit a portion of the compensation money with the assessee to enable them to repay the same, to the govt. immediately. This explanation of the assessee did not find favour with the ITO inasmuch as he found that there was a time-lag between the receipt of the compensation money by the various clients and depositing the same with the assessee. The ITO, therefore, made further addition of Rs. 3,05,000 as unexplained income of the assessee. 6. When the matter went in appeal before the CIT (A), the assessee reiterated the same contentions as we were advanced before the ITO denying the receipt of Rs. 4,30,000 on 5th Dec., 1972 from Shri A. S. Bhaduri, managing director of M/s Sonapur Tea Co. (P) Ltd. as also the source of Bank Deposit of Rs. 3,05,000 on the same date. The CIT (A) was of the opinion that the reason given by the ITO for addition of Rs. 4,30,000 was convincing and the assessee's efforts to cover up the bank deposits on 5th Dec., 1972 was proved to be unsuccessful. He, therefore, confirmed the addition of Rs. 4,30,000. The CIT (A), however, was of the opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lients in connection with different land acquisition cases. The ld. counsel for the assessee urged that the concerned clients were found to have received sufficient amount of compensation which were kept deposited with the assessee in case the amount of the portion of the same were to be refunded to the State Govt. as a result of the decision of the High Court in the pending suits filed by the Govt. against the reasonableness of the compensation money that were awarded to the different clients. He pointed out that the respective clients appeared before the ITO and confirmed having kept deposits of their compensation money with the assessee. The ld. counsel for the assessee urged that it was a usual practice in the compensation cases and the assessee was to have kept deposited all such money year after year. In support of that contention of ld. counsel for the assessee furnished before us, the income and expenditure account for the year ending 31st March, 1973. He, therefore, submitted that the CIT (A) was wrong in confirming the addition of Rs. 4,30,000 in the assessee's total income. The ld. Departmental Representative on the other hand, highlighted the reasons given by the lower ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lly gone through the facts of the case. We see that the entire case of the Revenue is based on a photostat copy of a slip of paper numbered as 102. The ITO does not appear to have seen the original copy of that paper. The assessee categorically stated that he was not even shown with photostat copy. As has been held by the Supreme Court in the case of Moosa M. Sadha and Azam S. Madha vs. CIT 1973 CTR (SC) 325 : (1973) 89 ITR 63 (SC) that photostat copies have very little evidentiary value. Even that slip of paper did not mention the full name of the assessee. It mentioned the name of some Pathak. It is true that the assessee was conducting the land acquisition cases of M/s Sonapur Tea Co. (P) Ltd. and the aforesaid slip of paper was found as a result of search conducted by the CBI authorities in the premises of Shri A. S. Bhaduri, managing director of M/s Sonapur Tea Co. (P) Ltd. But Shri Bhaduri stated on oath before the ITO that he had never paid Rs. 4,30,000 to the assessee towards his remuneration for conducting the land of acquisition cases of Sonapur Tea Co. (P) Ltd. The books of account of M/s Sonapur Tea Co. (P) Ltd. had not shown any such payment to the assessee on 5th Dec. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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