9911796707
TMI Blog2012 (9) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... Held that:- No material was found during the course of search operation. CIT(A) rightly observed that if at all there is any deficiency, the same has to be considered as undisclosed income of the assessee’s wife and not as undisclosed income of the assessee. Addition towards low personal expenses - Held that:- In the absence of any material found during the course of search operation this Tribunal find that there cannot be any addition as undisclosed income. Deletion of addition is confirmed. Direction of the CIT(A) to verify the confirmation letter in respect of loan of Rs.2 lakhs - Held that:- When the assessee filed the confirmation letter, it is the duty of the AO to examine the same. The creditworthiness, identity of the credito ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing officer estimated the income from agriculture on finding that the estimation made by the assessee was very high and thus he restricted the agricultural income to the extent of Rs.5,46,926. The Commissioner of Income-tax(A) directed the assessing officer to admit the agricultural income originally declared; however, rejected the claim of the assessee towards agricultural income to the extent of Rs.2,46,000. The ld.representative submitted that the assessee has purchased 1.84 acres of rubber plantation on 17-10-1996 and the same was disclosed in the return of income. Due to purchase of this property, the assessee has disclosed additional agricultural income of Rs.2,46,000 for the block period. The ld.representative submitted that the inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e block return of income filed as additional agricultural income. Therefore, when the assessee claims that an additional agricultural income and the same was not disclosed earlier the claim of the assessee has to be examined in the light of the material available on record. The lower authorities found that no material is available on record to support the claim of the assessee, therefore, taking into consideration the return already filed, rejected the contention of the assessee with regard to the additional agricultural income. Therefore, the Commissioner of Income-tax(A) directed the assessing officer to take agricultural income at Rs.2,46,000 as against Rs.5,46,926 adopted by the assessing officer. Therefore, this Tribunal do not fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the hands of the assessee. No material was found during the course of search operation. The entire addition was made on the basis of the cash flow statement filed before the assessing officer. As rightly observed by the Commissioner of Income-tax(A), if at all there is any deficiency, the same has to be considered as undisclosed income of the assessee s wife and not as undisclosed income of the assessee. Therefore, this Tribunal do not find any infirmity in the order of the lower authority. We uphold the order of the Commissioner of Incometax( A). 10. The next ground of appeal is with regard to deletion of addition of Rs. 2,52,286 towards personal expenses. 11. Shri S.R. Senapati, the ld.DR submitted that the assessee has disclosed R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that there cannot be any addition as undisclosed income. Therefore, we do not find any infirmity in the order of lower authority. Accordingly the same is confirmed. 14. The next ground of appeal is with regard to direction of the Commissioner of Income-tax(A) to verify the confirmation letter in respect of loan of Rs.2 lakhs. 15. We heard the ld.representatives for the revenue and the assessee. The assessee has claimed an NRE loan to the extent of Rs.2 lakhs from one Abuty. The assessing officer treated the same as undisclosed income. However, the Commissioner of Income-tax(A) directed the assessing officer to verify the confirmation letter said to be filed by the assessee and other documents for the purpose of genuineness. When the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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