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TMI Blog2014 (1) TMI 1358X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent : Sri Solgy Jose T. Kottaram ORDER Per Chandra Poojari, AM:- This appeal preferred by the assessee is directed against the orders of the CIT(A)-II, Hyderabad dated 20/02/2013 for the assessment year 2009-10. 2. The grievance of the assessee in this appeal is that the CIT(A) erred in confirming the addition of Rs. 60 lakhs made by the Assessing Officer towards unexplained cash deposit. 3. Briefly the facts of the case are that there was a search and seizure operations on the premises of the company M/s BPR Infrastructure Pvt. Ltd., and its Directors on 17.9.2008 where the appellant is a working Director. Consequently, the cases of the company and its whole time Directors were notified to Central Circle-1, Hyderabad, but ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee with regard to the SB account with Andhra Bank, Nampally Branch. The AO also verified the assessment order passed in the case of smt Baddam Kalavathy and found that there was no mention of the deposits in the SB account No. 0l/00019264 of Andhra bank, Nampally Branch and thereby concluded that the cash deposits of Rs. 60 lakhs appearing in the savings bank account No. 01/00019264 of Andhra Bank, Nampally branch were unexplained cash deposits and added to the total income. Aggrieved, the assessee carried the matter in appeal before the CIT(A). 4. After considering the submissions of the assessee, the CIT(A) noted that neither in the assessment order nor in the letter field by smt B. Kalavathy, the details of the bank accounts of va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the hands of the account holder ie., the appellant. Accordingly, the CIT(A) confirmed the addition made by the AO of Rs. 60 lakhs towards unexplained cash deposit remains unexplained. 5. Aggrieved by the order of the CIT(A), the assessee is in appeal before us. 6. Before us, the appellant had reiterated what was stated before the revenue authorities and filed copy of the assessment order u/s 143(3) r.w.s. 153A of the IT Act, passed in the case of smt Baddam Kalavathy. On perusal of the assessment order and also the letter given by Smt. Baddam Kalavathy to the AO of the appellant, it was noticed that Sri B. Prakash Reddy, H/o Smt. B Kalavathy, stated that he received additional cash on account of additional works carried out by them ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed money or if she has given false entries in her account, the same would be treated as unexplained amount and accordingly, action will be taken as per the law. During the course of search and seizure operation, any unaccounted money is found and seized, the tax payer usually give an explanation that she/he had borrowed the same or received from relatives or friends. In view of the above observations, we direct the assessee to substantiate her plea that the money deposited in the bank in her name is actually belonged to Smt. Baddam Kalavathy and there should be nexus between the receipt of money by Smt. Baddam Kalavathy and passing the same to the assessee. If the nexus between the source of money and passing on the same to the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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