9911796707
TMI Blog2012 (7) TMI 328X X X X Extracts X X X X X X X X Extracts X X X X ..... ted:- 25-5-2012 - SHRI R.S.SYAL, SHRI VIVEK VARMA, JJ. Appellant by : Mr. Aatiq Ahmed. O R D E R Per VIVEK VARMA: The appeal is filed by the department against the order of the CIT(A) II,Thane, dated 31-03-2011, wherein the CIT(A) has deleted the addition of Rs.15 lacs made by the AO in the assessment order. 2. At the time of hearing when the case was called nobody attended. Once again the case was called for hearing and again there was nobody to attend on behalf of the appellant. We, therefore, proceeded to hear the appeal ex parte qua the assessee. 3. We have heard the Departmental Representative and have gone through the material on record. 4. The facts emerging from the orders of revenue authorities are th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utiny assessment for the Asstt. Year 2007- 08, we were asked to explain the cash deposit of Rs.15,00,000/- on 1 November, 2nd November and 14th November 2006 Rs. 5,00,000/- each. 2. In this connection we had drawn the attention of the Assessing Officer to the fact that earlier in June, 2006 the assessee had entered into an agreement for purchase of plot of land for a consideration of Rs.15,00,000/- and the amounts of Rs. 20,00,000/- was withdrawn from the Savings bank account of the assessee on 6th June, 2006. In support of this claim we had produced the copy of the Agreement for the purchase of the plot of land. 3. However the said Agreement could not be concluded as the title of the property was not clear and thus had to be cancelled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ignored the facts which are duly supported by the strong documentary evidence in the nature of the both the agreements for purchase and then the cancellation deed . 11. We had fully explained the logic of the transactions entered into with full documentary evidence. 12. Ignoring the strong documentary evidence and thus treating the same as the income of the assessee is against the principle of natural Justice and has caused a very strong hardship. 6. On going through the written submissions, the CIT(A) observed that the assessee had received Rs. 20 lacs on 31-05-2006 for the purchase of the land from M/s Housing Development and Infrastructure Ltd. The money was received by cheque and credited into savings account of the assessee in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the money and there should not be any confusion about these entries reflected in the bank account. The source of the money deposited and withdrawal in the bank is not in doubt. The assessing officer has not given any details as to how the cash deposit in the bank account of the appellant does not tally with the sale agreement. On the contrary all the documentary evidences placed by the appellant on record during the course of appellate proceedings are in agreement with the arguments of the appellant. All these facts were also placed before the assessing officer by the appellant during the assessment proceedings and the copy of this letter submitted to the AC stating the above facts has been placed on record by the appellant. The confirma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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