9911796707
TMI Blog2016 (6) TMI 732X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by him on 11.01.2005 disclosing income of Rs. 1,51,780/-. The said return was selected by the AO for scrutiny and in the assessment completed under section 143(3) vide order dated 29.11.2006, the total income of the assessee was determined at Rs. 7,91,292/- after making the various additions. 3. Against the said order passed by the AO under section 143(3), an appeal was preferred by the assessee before the ld. CIT(A) and after considering the submissions made by the assessee and the material available on record, the ld. CIT(A), found no merit in the appeal of the assessee and dismissed the same, thereby confirming all the additions made by the AO to the total income of the assessee. 4. Aggrieved by the order of the ld. CIT(A), the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed investment for purchase of land. 7. That the appellant craves leave to add, alter or delete all or any of the grounds of appeal." 5. I have heard the arguments of both the sides and also perused the material available on record. At the time of hearing, the ld. Counsel for the assessee has not pressed ground nos.1 and 4 raised by the assessee in this appeal, the same are accordingly dismissed as not pressed. 6. As regards the issue raised in ground no.2 relating to the addition of Rs. 40,000/- on account of unexplained gift, it is observed that the gift of Rs. 40,000/- stated to be received by the assessee from his mother was treated by the AO as unexplained since the capacity of the donor to give such gift could not be established ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of Rs. 1,88,000/- was shown to be received by the assessee as loans from 11 creditors. During the course of assessment proceedings, the said loans were examined by the AO by conducting enquiries by issuing notices under section 133(6) and summons under section 131. These enquiries conducted by the AO revealed that notices could not be served to two creditors at the addresses given while two other creditors categorically denied of having given any loans to the assessee. When these adverse findings of the enquiry conducted by him were confronted by the AO to the assessee, the latter could not offer any satisfactory explanation. The AO, therefore treated loans received from nine out of 11 creditors as unexplained and the amount of loans rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er section 68. In that view of the matter, I confirm the addition made on this issue and dismiss ground no.3 of the assessee's appeal. 9. As regards the issue involved in ground no.5 relating to the addition of Rs. 49,800/- made on account of low withdrawals, it is observed that the withdrawals for household and personal expenses during the year under consideration were shown by the assessee at Rs. 36,000/-. After taking into consideration the size of the assessee's family, the cost of living etc., the personal and household expenses of the assessee were estimated by the AO at Rs. 85,800/- and the difference amount of Rs. 49,800/- was added by him to the total income of the assessee on account of low withdrawals. On appeal, the ld. CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... istration, thereby making total investment in land at Rs. 6,52,633/-. In this regard, the explanation offered by the assessee was that the land was purchased by him in joint name with wife and the investment made in the land to the extent of 50% was declared by him while the balance 50% was the investment made by his wife. The assessee, therefore was called upon by the AO to explain the source of balance investment in the hands of his wife and since the explanation offered by the assessee in this regard was found to be satisfactory by the AO only to the extent of Rs. 50,000/-, the balance amount of Rs. 3,03,433/- was added by him to the total income of the assessee as unexplained investment. On appeal, the ld. CIT(A) confirmed the addition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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