9911796707
TMI Blog2012 (9) TMI 648X X X X Extracts X X X X X X X X Extracts X X X X ..... the personal bank account of assessee was ultimately utilized for issuing cheque in favour of LIC with respect to the payment due from such clients. Therefore issue remand back to AO for fresh consideration. - I.T(SS).A.Nos. 130 to 136/Ind/2012 & I.T(SS).A.Nos. 137 to 143/Ind/2012 - - - Dated:- 9-7-2012 - SHRI JOGINDER SINGH AND SHRI R.C.SHARMA, JJ. Appellant by : Shri Keshav Saxena, CIT DR ORDER PER BENCH These are the appeals filed by the Revenue against the order of CIT(A) dated 27.2.2012 for the assessment years 2003-04 to 2009-10, in the matter of order passed u/s 153A read with Section 143(3) of the Income-tax Act, 1961. 2. Common grievance of the Revenue in case of both the assessees in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mutual Fund and from 25th November, 2008, also working as consultant in Vodaphone. In reply of question no. 5 and 6, he told that he does not receive cash amount for payment of premium of LIC from clients. It is seen that cash have been deposited in these accounts regularly. When this issue was confronted by Assessing Officer with Shri Manoj Chaurasia he told that these cash belong to his clients but no details or names of any evidences to prove his contention has been furnished by him despite the opportunity provided to them. The assessee was asked to explain the credits and debits appearing in the pass books of bank accounts of different persons and the family members of M.L. Chaurasia and Manoj Chaurasia. During assessment proceedings, S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... premium payments. Assessing Officer observed that this fact is true then Chaurasias could have easily got confirmations from their clients. However, inspite of opportunities given by the Income Tax Department since the search and seizure action, the Chaurasias have failed to get proof/confirmations from clients claimed by them. The Assessing Officer also observed that time of about 2-1/2 years was available with them in which they could have obtained confirmations from the clients if they really wanted to do so, but the assessee failed to furnish any of the documentary evidence called by Assessing Officer. 7. In view of the above observations, the Assessing Officer concluded that the assessee has failed to discharge their onus to explai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gone through the orders of the authorities below and materials placed before us. From the record, we found that during the course of search, it was found that assessee has deposited huge cash in various bank accounts of his family members, for which source was asked. Statement was recorded in course of search, in reply to question nos. 5 6, the assessee told that he does not receive cash amount for payment of premium of LIC from clients. However, during course of assessment proceedings, it was explained that the assessee was LIC agent, therefore, the cash was deposited out of the payment received from the respective LIC customers. The assessee was asked to furnish confirmation from these clients, but the same was not furnished before the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on the assessee to explain the source of cash and, therefore, the confirmation form persons from whom cash was received was required to be furnished before the Revenue Authorities. As an alternate, the assessee can also show that the amount of cash so received and deposited in the personal bank account of assessee was ultimately utilized for issuing cheque in favour of LIC with respect to the payment due from such clients. In the interest of justice and fair play, we restore the issue back to the file of the Assessing Officer with a direction to decide the issue afresh in terms of our above observations. If the Assessing Officer finds that cash so received from the clients and deposited in the bank account of assessee was ultimately util ..... X X X X Extracts X X X X X X X X Extracts X X X X
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