9911796707
TMI Blog2013 (12) TMI 1367X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in these appeals they were clubbed and heard, therefore, a common order is passed for the sake of convenience. ITA No. 770/Hyd/2011 for AY 2006-07 by Revenue 2. This appeal is directed against the order of CIT(A)-VII, Hyderabad dated 02-02-2011. The grievance of Revenue is against the action of the CIT(A) in deleting the additions made towards unexplained cash deposits of Rs. 5,00,000/- and Rs. 12,00,000/- by the AO. 3. As regards the cash deposit of Rs. 5,00,000/-, the AO observed that Assessee had made a deposit of Rs. 5,00,000/- in Bank of Baroda, Tirupati and Assessee did not furnish any details about the said deposit. The AO, therefore, treated the said deposit as unexplained credit. Before the CIT(A), it was submitted that AO di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder: "5.1 The AR has also filed the details in support of his argument. It may be seen that the appellant has been maintaining his capital account which is called ways and means account from which the appellant is seem to have drawn Rs. 12,00,000/- and deposited with Andhra Bank, Tiruchanoor Road, Tirupathi. Therefore, having verified the facts and circumstances of the case, I am inclined to delete the addition made by the AO. Hence, this ground of appeal is allowed. 5. After considering rival submissions and perusing the paper book, we are of the opinion that both the AO was wrong in making the additions. As seen from the paper book at pages 8 and 9, which are ways and means account and balance sheet and at pages 21-22, copy of bank sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase. Therefore, we are of the view that since the entire demand admitted by Assessee was paid before the appeal was considered by the learned CIT(A), this ground raised by Revenue has no merit. Taking clue from the principles laid down by the Hon'ble Supreme Court in the case of CIT Vs. Filmistan Ltd., 42 ITR 163, since Assessee has paid the tax before the appeal was taken up by the learned CIT(A), the same can be considered as maintainable and even if there was any delay in payment of tax after filing of appeal, the same is deemed to have condoned. We, therefore, do not see any merit in revenue's ground and accordingly the same is dismissed. 9. In the result, appeal of Revenue in ITA No. 609/Hyd/2011 is dismissed. ITA No. 622/Hyd/2011 ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her, it was submitted that these amounts were drawn from Assessee's own income and deposited in the bank account. It was, therefore, contended that the AO should not have made any addition on this count. After considering the submissions of Assessee, the CIT(A) confirmed the addition made by observing as under: "5.1 It may be seen that the AR has furnished ways and means account of appellant for the period ending 31.03.2007. It is the claim of the AR that Rs. 1,00,000 and Rs. 1,30,000 were deposited on 15.03.2007 and 28.03.2007 in appellant's bank account no. 20012842 with Bank of Baroda, Tirupathi. From the ways and means account furnished by the appellant, I do not find the above said amounts have been drawn and deposited in appellant's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs. 16,00,000/- even though the Andhra Bank account is with balance of Rs. 2,49,284/-. The appellant should have made clear with regard to receipts and payments in appellant's ways and means account. The ways and means account is not clear with regard to the payments made even though receipts are shown in the accounts for having received gifts, certain incomes by the appellant and matured fixed deposits etc. Therefore, I find that the ways and means account is not self-explanatory with regard to the deposits made in Andhra Bank account for having withdrawn and made deposits. Hence, I am of the opinion that the AO has rightly made the above said addition. Therefore, this ground of appeal is also treated as dismissed." 14. Before us, the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erein copy of ways and means account, and copies of bank statement of account from Andhra Bank, Tirupathi and Bank of Baroda are placed to establish that the entries of the said deposits have been appeared in the said statements. Therefore, since Assessee has proved the genuineness of his claim by way of documentary evidence and since assessment was made based on the ways and means statement, we are of the opinion that the learned CIT(A) wrongly considered the facts and sustained the addition. Same reasoning given by Ld. CIT(A) in deleting the addition (ITA 609/ H/11 -Revenue appeal) in earlier year apply here also. The addition made by the AO cannot be sustained and accordingly Assessee's ground is allowed. 17. In the result, appeal of As ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
