9911796707
TMI Blog2014 (2) TMI 1031X X X X Extracts X X X X X X X X Extracts X X X X ..... signed and filed also are devoid of any information about date of gift, mode of gift and amount advanced by each person - Opening capital claimed also require confirmation about sources - CIT(A) without examining this issue, deleted them without proper reasons - Whether assessee has any other Balance Sheet reflecting assets is also not on record - Rule 46A violation is also there – thus, the matter remitted back to the AO for fresh adjudication – Decided in favour of Revenue. - ITA.No.1030/Hyd/2013 - - - Dated:- 21-2-2014 - Shri B. Ramakotaiah And Smt. Asha Vijayaraghavan,JJ. For the Petitioner : Mr. Jeevan Lal Lavidiya For the Respondent : Mr. MV Anil Kumar ORDER Per B. Ramakotaiah, A.M. This is a Revenue appeal a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he addition towards gifts amounting to Rs.1,35,000/- by accepting the confirmation letters without there being the proof for identity, creditworthiness and genuineness of the transaction. 7. Whether on facts and in circumstances of the case the Id. CIT(A) is correct in holding that the onus is discharged by the assessee as the confirmation letters are not having full details confirming the genuineness of transaction. 8. The Id. CIT(A) erred in deleting the addition of Rs.70,100/- towards disallowance u/s.43B as the assessee had not furnished the same before the A.O. and the CIT(A) has not given an opportunity as per Rule 46A of I.T. Rules. 9. The Id. CIT(A) erred in restricting the disallowance to 5% without any basis instead of 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.57,332/- Rs.5,73,326/- Total Income Assessed Rs.14,90,684/- 6. Agricultural income treated as income Rs.35,000/- 3. Ld. CIT(A) has deleted all the items from Sl.No. 1, 2, 3 and 5. He confirmed the disallowance at item No. 4 as not pressed and reduced disallowance at 10% to 5%. He also deleted the addition of agricultural income as other income. His order on these issues are as under : 5. I have seen the submissions made by the appellant, gone through the assessment order besides all other information available on record including the case laws relied upon. The 6 additions made by the AO are contested, which are resolved as under: 5A. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directed to delete the same. 5D. The fourth issue is unsecured loans of Rs. 96,000. It is submitted by the appellant that by the time the confirmation letter from the unsecured loan creditor is obtained and submitted, the learned assessing officer concluded the assessment proceedings by making addition of Rs.96,000. But however, during the appellate proceedings the AR has not pressed the same and accordingly the same is confirmed. 5E. The fifth issue is disallowance of expenses estimated @ 10% amounting to Rs.57,332. These expenses pertain to heads like salaries, breakage, miscellaneous, freight charges and hamalies etc. A look at assessment order reveals that this addition was obviously for the reason that some self made vouchers we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are no immovable properties, even the so-called agricultural land purchased in 2005. As stated by A.O. no books of accounts or vouchers are furnished. The confirmation of gift letters signed and filed also are devoid of any information about date of gift, mode of gift and amount advanced by each person. Opening capital claimed also require confirmation about sources. We are of the opinion that CIT(A) without examining this issue, deleted them without proper reasons. Whether assessee has any other Balance Sheet reflecting assets is also not on record. Rule 46A violation is also there. For these reasons, we set aside the order of the A.O. and CIT(A) on these issues and restore it to the file of A.O. to examine complete assessment afresh, aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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