9911796707
TMI Blog2013 (6) TMI 623X X X X Extracts X X X X X X X X Extracts X X X X ..... . The amount was deposited in PNB account no. 3415 from 22/01/2009 to 18/03/2009. These amounts are also reflected in the cash flow statements which are in conformity with the information obtained from PNB by issuing notice u/s 133(6) by AO. Therefore, the cash flow statement submitted by assessee was rightly not treated as additional evidence by CIT(A) because the primary evidence in the form of bank statement had already been submitted by assessee before the AO. Therefore, do not find any merit in the submission of ld. DR regarding no opportunity being provided to AO by ld. CIT(A). Admittedly, the AO had not pointed out any other investment being made by assessee out of the withdrawals made form Gurgaon, Gramin Bank. Therefore, merely ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4/- between 22/01/2009 to 18/03/2009. The AO made an addition of Rs. 28,66,594/-, inter-alia, observing as under: The assessee failed to furnish the sources of such cash deposits. Moreover, on perusal of the copies of sale deed of agriculture land shows that the amount of share received through cheque by assessee on sale of agriculture land was deposited in the account no. 3136 of Gurgaon Gramin Bank, Bhondsi and this amount was withdrawn from the account from 11.12.2008 to 20.12.2008. Whereas, the amount of cash deposit in PNB Bhondsi was from 22.01.2009 to 18.03.2009. This fact is important to mention here so as to ascertain whether the cash deposited is received from sale of agricultural land. So this cash deposit cannot be considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... force in the reasoning of the AO that addition on account of unexplained cash can be made on the ground that cash flow statement was not filed when the copies of bank accounts were filed by the assessee which clearly reflected cash withdrawals against the deposits made out of sale proceeds of agricultural land through cheques. He further observed that, in any case, now assessee has filed cash flow statement where all cash transactions are incorporated on the basis of two bank accounts provided to the AO during assessment proceedings, which is inconfirmity with the transactions recorded in the bank accounts. Ld. CIT(A) has reproduced the same at pages 12 to 13 of his order. 5. Ld. DR submitted that the assessee had not submitted the cash f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the form of bank statement had already been submitted by assessee before the AO. We, therefore, do not find any merit in the submission of ld. DR regarding no opportunity being provided to AO by ld. CIT(A). 6.2 The only point of controversy is whether the cash withdrawals from Gurgaon, Gramin Bank between 11/12/2008 to 28/12/2008 could reasonably be taken as source of cash deposits in PNB account no. 3415 between 22/01/2009 to 18/03/2009. Admittedly, the AO had not pointed out any other investment being made by assessee out of the withdrawals made form Gurgaon, Gramin Bank. Therefore, merely because of the gap of 1 to 3 months between the date of withdrawal and date of deposits, it could not be inferred that the source of deposits in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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