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TMI Blog2012 (11) TMI 418X X X X Extracts X X X X X X X X Extracts X X X X ..... 581/- and the additions made by the A.O. was to the extent of Rs.1,27,000/-, thus the addition seems to be on higher side. Thus to meet the end of justice the disallowance be estimated and restricted to Rs.35,000/- instead of Rs.1,27,000/- made by the A.O. - partly in favour of assessee. - IT(SS) A. No.250/AHD/2012 - - - Dated:- 5-10-2012 - SHRI G.C.GUPTA SHRI ANIL CHATURVEDI, JJ. Appellant by : Mr. Anil R. Shah Respondent by : Mr. S.K. Gupta, CIT (DR) ORDER PER: SHRI ANIL CHATURVEDI, A.M. This appeal is filed by the assessee against the order of Ld. CIT (A)- IV, Baroda dated 10-2-2012 for the assessment year 2002-03. 2. The assessee has raised grounds of appeal in two parts- (i) on legality and (ii) on merit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and cash deposit of Rs.22,000/- was made in the assessee s bank account. Since the assessee could not explain the source of investment in house property and cash deposits, the A.O. concluded that the investment in house property to the tune of Rs.2.05 lacs and cash deposits of Rs.22,000/- as undisclosed income of the assessee and accordingly an addition of Rs.2.27 lacs was made on account of undisclosed sources of income. Being aggrieved, the assessee carried the matter before CIT (A). CIT (A) vide order dated 4-11-2008 confirmed the addition made by A.O. Thereafter the assessee preferred appeal before ITAT. ITAT vide order dated 3-7-2009 (ITA. No.1116 1117) set aside the issues to the file of A.O. for considering the evidences filed in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A.O. has erred in both in law and in fact in making addition of Rs.1,05,000/- as unexplained investment in house property despite the fact that he had objected to such addition. The appellant has submitted that the source of investment in house property was duly explained and the investment has been made from savings and Section 68/69 does not apply and, therefore, the addition ought to have been deleted. It is further submitted by the appellant that addition of Rs.22,000/- as unexplained cash credit is strongly objected both on point of law and fact and this amount of Rs.22,000/- was duly explained and the part of savings. Without prejudice to this, the appellant has further submitted that the said addition of Rs.22,000/- was required to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regard did not object for making such addition. The important aspect to be considered is that the appellant has not been able to bring materials on record which could substantiate his claim that the investment of Rs.1,05,000/- as made in the bank were out of his disclosed and explained income. In my opinion, the appellant was not having sufficient funds in hands which were disclosed by him and out of the same above two investments were made. Considering this fact I hold that the A.O. has correctly made addition of Rs.1,05,000/- on account of unexplained investment in house property and another addition of Rs.22,000/- on account of unexplained cash credit and, therefore, these two additions are confirmed. 6.1. Considering all the above fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deposited in the bank. The above two issues are not found to be related with each other and both these two issues are required to be considered separately for making additions. In view of this the ground of appeal of the appellant with regard to granting of benefit of telescoping is hereby dismissed. 6. Aggrieved by the action of CIT (A), the assessee is now in appeal before us. 7. Before us the Ld. A.R. submitted a chart depicting total funds available with the assessee. From the chart the Ld. A.R. pointed out that he was having accumulated balance of approximately Rs.74,000/- and had earned income of Rs.41,930/- and thus the total funds available were to the extent of Rs.1,16,581/-.The opening balance consisted of gifts etc., recei ..... X X X X Extracts X X X X X X X X Extracts X X X X
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