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TMI Blog2013 (12) TMI 608X X X X Extracts X X X X X X X X Extracts X X X X ..... of law - Decided against the assessee. - Income Tax Appeal No. - 350 of 2013 - - - Dated:- 9-12-2013 - Hon'ble Sunil Ambwani And Hon'ble Surya Prakash Kesarwani,JJ. For the Appellant : Rahul Agarwal For the Respondent : C. S. C, It ORDER 1. We have heard Shri Rahul Agarwal, learned counsel appearing for the assessee-appellant. Shri Ashok Kumar appears for the Income Tax department. 2. This Income Tax Appeal filed under Section 260-A of the Income Tax Act arises from an order of Income Tax Appellate Tribunal, Agra Bench, Agra dated 26.3.2013 for assessment year 2006-07. 3. The appeal has been preferred following substantial questions of law:- "(a) Whether the Tribunal below was legally correct in affirming the rejec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the A.O, it was submitted that the gold ornaments and gold biscuits belonged to sister Rekha Varshney. Shri Ashok Varshney never admitted that the said two gold biscuits belonged to him. When Shri Ashok Varshney, brother of the assessee, in his statement pointed out that cash of Rs.5,00,000/- found in the locker of assessee belonged to him, he did not point out that these two gold biscuits also belonged to him. The CIT (A) recorded the fact that if these gold biscuits belonged to Shri Ashok Kumar Varshney, why it was kept in the locker belonging to the assessee. Even during the course of search and seizure operation, these gold biscuits were not owned up by Shri Ashok Kumar Varshney at the time of recording his statement while making declar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id not accept the said affidavit as Rule 46A (1) clearly provides the condition that the appellant was to show that he was prevented by sufficient cause from producing evidence before the A.O. In the case under consideration, the assessee has failed to give any sufficient cause for not producing the same before the A.O., therefore, we find that the CIT (A) has rightly rejected the contention of the assessee." 5. Shri Rahul Agarwal, appearing for the assessee-appellant submits that the same amount has been added to the income of assessee's brother Shri Ashok Kumar Varshaney and thus the assessee's explanation should have been considered. He further submits that in the explanation before the AO it was clearly stated that the gold weighing 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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