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TMI Blog2016 (12) TMI 1401X X X X Extracts X X X X X X X X Extracts X X X X ..... for the revenue that the amount was deposited by the son of the appellant before us, then in our view the explanation should have been sought from the son and if the income belongs to him, then the income should be assessed in the hands of the son and not in the hands of husband or the wife of the deceased. Since there was no willful and deliberate concealment of the income by the assessee therefore the appeal is required to be allowed. Therefore in our view no case of imposing of penalty was made out by the revenue and in the result the appeal is required to be allowed and we therefore allow the appeal and direct the deletion of penalty imposed on the assessee. - Decided in favour of assessee. - ITA No.646/Bang/2015 - - - Dated:- 23-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee, Shri. S. H. Tilavalli, had an account in Canara Bank, Hubballi, bearing SB Account No.6788. It was reported by the DR that the assessee had deposited a sum of ₹ 13,00,000/- in his account. Accordingly a notice under section 148 was served on the assessee. In pursuance to the notice, the wife of late Shri. S. H. Tilavalli appeared and offered the entire cash deposited to the tax. On the basis of this, the assessment was completed. Thetotal income assessed was ₹ 14,34,789/-. 4. Simultaneously, the AO had also commenced the penalty proceedings under section 271(1)(c) of the Act and gave a notice to the wife of assessee Late Shri. S. H. Tilavalli. It was also the case of the assessee before AO that she has no knowl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. Against the said order, the assessee before us filed an appeal and the learned CIT had confirmed the order passed by the AO for the following reasons: The department has information that the assessee Shri Sharnappa H TilavaIIi has deposited the following amounts in his saving banks accounts Canara Bank .during the previous year relevant to AY 2005-06 and the same was not disclosed in the ROI : . Sl. No. Date Amount Name of the Bank 1 2.9.2004 ₹ 10,00,000/- Canara Bank Hubli (5B A/c) 2 7.3.2005 ₹ 3,00,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posited by the son after the death of the husband of the present appellant. Further learned DR relies upon the orders passed by authorities below. 7. We have heard the rival contention of the parties and perused record. It is the case of the revenue that the assessee i.e., Shri Sharnappa H Tilavalli died on 14.04.2004 and thereafter the amount was deposited in the account of the said assessee on 02.09.2004 and 07.03.2005 to the tune of ₹ 13,00,000/-. Undoubtedly, the amount deposited in the account of the deceased cannot be said to be amount belonging to the deceased Shri Sharnappa H Tilavalli and therefore the said amount cannot be assessed in the hands of Shri Sharnappa H Tilavalli. For the said reasons, even though the assessmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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