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TMI Blog2014 (3) TMI 929X X X X Extracts X X X X X X X X Extracts X X X X ..... k statement the AO found that there was a deposit of Rs. 1,71,766 on 12.6.2006 for which explanation was called for. However, the assessee has not furnished proper explanation. Being so, the AO made the addition u/s. 69 of Income-tax Act, 1961 at Rs. 1,71,766. 4. On appeal, the assessee submitted before the CIT(A) that he had received two cheques bearing Nos. 350048 and 350045 on 12.6.2006 for an amount of Rs. 1,07,260 and Rs. 1,71,766, respectively, for being paid to the landlords and the assessee had withdrawn Rs. 3 lakhs on 16.6.2006 vide cheque No. 202583 and paid to the landlords. After hearing the argument of the assessee's counsel, the CIT(A) deleted the addition. Against this, the Revenue is in appeal before us. 5. We have hea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsideration and he was only acting as an agent and was getting commission. It was submitted that M/s. Jana Chaitanya Housing (P) Ltd., had issued two cheques for Rs. 10 lakhs each on 12.4.2006 and 14.7.2006 towards development charges payable to the landlords. These two cheques were deposited in the bank on 15.4.2006 and 15.7.2006 respectively. These were credited by the bank on 18.4.2006 and 18.7.2006 respectively. The assessee had paid a sum of Rs. 9,75,000 and Rs 10 lakhs to the landlords subsequently. Confirmation letters were produced before the ITO to this effect. As the AO had not sought for any further clarification, the assessee felt that the AO had satisfied himself with the above submission. However, the AO had made the addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had issued two cheques of Rs. 10 lakhs each and the same amount was withdrawn by the assessee and was disbursed to the landlords i.e., Sri. P. Ramulu and Sri. P. Laxmaiah and the cheque numbers do tally with the bank statement furnished. He also observed that the assessee had not claimed the TDS refund as was also stated by the Assessing Officer in the assessment order. The assessee had not undertaken any contract work and it is not known why M/s. Jana Chaitanya Housing (P) Ltd., had recovered the TDS. Under the circumstances, as the bank statement and the letter issued by M/s. Jana Chaitanya Housing (P) Ltd., with cheque number details and amounts are tallying, the CIT(A) held that the assessee had not received any amount towards the contr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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