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TMI Blog2012 (10) TMI 122X X X X Extracts X X X X X X X X Extracts X X X X ..... ouse – Held that:- As the provisions of sec.80C are not applicable in respect of amount spent on renovation. Appeal decide in favour of revenue - I.T.A.No.1198/Del/2011 - - - Dated:- 13-7-2012 - SHRI R.P. TOLANI, AND SHRI K.D. RANJAN, JJ. Appellant by : Shri Gurjeet Singh CA Shri Pankaj Jain, Advocate Respondent by : Shri R. S. Negi, Sr. DR O R D E R PER K.D. RANJAN, ACCOUNTANT MEMBER This appeal by the assessee for Assessment Year 2007-08 arises out of the order of Commissioner of Income-tax (Appeals), Rohtak. The grounds raised by the assessee are reproduced as under:- 1. Because the action for upholding the addition for Rs.12,84,027/- for the reason being Income From Undisclosed Sources is being challe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. It was also stated that the assessee was diabetic and he had to keep the amount or Rs.3-4 lakh to take care of the ailment. He also got some loans and gifts from his friends and well wishers for heart surgery. The AO did not accept the contention of assessee for availability of retirement benefits for the deposits in the bank account on the ground that as per cash flow statement filed by him only cash of Rs.2.75 lakh was available as on 1.04.2006 which was kept by him for medical expenses. Further no other assets were shown as on 31.3.2006. The AO also did not accept the argument of rotation of money in the absence of furnishing of details and documentary evidence. Though the AO was agreed with the medical exigencies of the assessee, sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also stated that the assessee had 5 acres of agricultural land in HUF capacity which is enough to meet the cost of house-hold expenses. It was also submitted that salary of his daughter-in-law and own pension was more than Rs.3.5 lakhs per year. It was therefore, submitted that the amount deposited in the bank was explainable. The learned CIT(A) considered the explanation of the assessee. He deleted the addition of Rs.1,13,500/- by observing as under:- 4. I have considered the issue and the submissions made by the AR. From the assessment order, it is evident that credit entries amounting to Rs.14,04,134/- on account of gifts, pension receipt, receipts through banking channels etc. have been accepted by the AO. The action of the AO in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... awal and deposits. Merely there was time gap, provisions of sec. 69 could not be invoked. He further submitted that the assessee is prepared to give details along with evidence if the assessee is given opportunity to explain before the AO. 5. On the other hand, the learned Sr. DR supported the order of the CIT(A). 6. We have heard both the parties and gone through the material available on record. The assessee has contended that the assessee in order to show rosy picture for the purpose of obtaining visa was withdrawing cash and depositing the same in the bank account. We have gone through the cash flow statement for the period from 1.04.2006 to 31st March, 2007. As on 1.04.2006 there is opening cash balance of Rs.2,75,000/- which h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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