9911796707
TMI Blog2013 (12) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... t was the standard of the family of the assessee - The agricultural income have been accepted during the year and to that extent the Revenue has allowed the credit to the assessee, while accepting the course of the deposit of Rs.4 lakhs to the extent of Rs.2,10,360 - It cannot be denied that the assessee was not having any opening cash in hand – Partly allowed in favour of the assessee. - I.T.A. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de out of the current year's income as well as earlier year's agricultural income. The AO allowed the credit of Rs.2,10,360/- but added the balance amount of Rs.1,89,640/- as the income of the assessee. The sum of Rs.2,10,360/- was claimed by the assessee as agricultural income during the year which was earlier assessed by the AO as income from other sources but not an agricultural income. When th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... low statement before the CIT(A) and as per fund flow statement as on 31.03.2005, the assessee was having cash in hand of Rs.5,06,050/- and was also having business receipts of Rs.1,87,240/- in cash. Thus, he submitted out of this, a sum of Rs.4 lakhs was deposited in the bank. The CIT(A) did not accept the contention of the assessee that the assessee was having cash in hand as on 31.3.2006. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e cash in his bank account. Even there is no such law prevailing in the country. But a person can be expected to have a reasonable cash in hand when he is having the bank account. Nothing has been brought on record by either of the parties what was the position of the attempts made by the assessee and what was the standard of the family of the assessee. It is also fact that the assessee has filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the CIT(A) out of total cash deposit of Rs.4 lakhs made by the assessee in his bank account as on 5.12.2005. Accordingly, we delete the addition of Rs.1 lakh and confirm the addition of Rs.89,640/-. We are making it clear that we are sustaining the addition of Rs.89,640/- merely on estimate basis. Thus, the ground taken by the assessee is apparently allowed. 5. In the result, the appeal filed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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