9911796707
TMI Blog2017 (2) TMI 448X X X X Extracts X X X X X X X X Extracts X X X X ..... the impugned matter and has instead gone on to sustain the addition of ₹ 70,000/- made by the AO, merely on taking an unsupported overview of the entire matter. The said addition deserves to be deleted. 2. That the I'd CIT (A) has failed to appreciate the facts and circumstances governing the impugned matter and has instead gone on to sustain the addition of ₹ 4,98,000/- made by the AO, merely on taking an unsupported overview of the entire matter. The said addition deserves to be deleted. 3. That the Ld CIT (A) has failed to appreciate the facts and circumstances governing the impugned matter and has instead gone on to sustain the addition of ₹ 1,00,000/- made by the AO, merely on taking an unsupported overview of the entire matter. The said addition deserves to be deleted. 4. That the ld CIT (A) has failed to appreciate the facts and circumstances governing the impugned matter and has instead gone on to sustain the addition of ₹ 40,000/- made by the AO, merely on taking an unsupported overview of the entire matter. The said addition deserves to be deleted. 5. That the ld CIT (A) has failed to appreciate the facts and circumstan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceipt from Sale of Sugar Cane 23.06.2008 Cash 1,00,000/- Receipt from Sale of Wheat 19.08.2008 Cash 2,00,000/- Re deposit withdrawal made on 28.07.2008. 17.09.2008 Cash 40,000/- Re deposit withdrawal made on 15.07.2008. 17.10.2008 Cash 48,000/- Re deposit withdrawal made on 23.09.2008 06.10.2008 01.11.2008 Cash 30.000/- Re deposit of withdrawal made on 27.09.2008. 10.01.2009 Cash 50.000/- Re deposit withdrawal made on 26.12.2008. 23.01.2009 Cash 1,00,000/- Receipt from sale of Sugar Cane 30.01.2009 Cash 2,00,000/- Receipt from sale of Sugar Cane. 09.02.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il to explain the exact sources of above deposits of ₹ 70,0007-, hence, addition of ₹ 70,000/- is being hereby made to the total income of the assessee on account of Cash deposit into the bank account of the assessee from undisclosed sources. [Addition: ₹ 70,000/-]. Cash Deposit of ₹ 4,98,000/- on 09.06.2008:- In this respect assessee explained the source of deposit that it is Sale of Suger Cane . This contention of the assessee is wholly devoid of merit and liable to be rejected on several grounds as follows:- i) Vide order sheet entry dated:02.08.2011 assessee was specifically asked to furnish the Name complete address of the Institution / Person to whom Suger Cane Wheat were sold. Further on this very day assessee was asked to furnish the Quantity of Suger Cane Wheat the rate @ on which Suger Cane Wheat were sold. But assessee neither could furnish the name Complete address of the Persons/Institution whom Suger Cane Wheat were sold nor he could furnish its rate per quintal its quantity. ii) Assessee could not furnish any credible evidence in respect of Sale proceeds of - Suger Cane. In other words, assessee co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 009-10. iv) Explanation offered by the assessee in respect of cash deposits of ₹ 1,00,000/- is not satisfactory. v) All the agricultural land of assessee his family members are mortgaged before the Oriental Bank of Commerce, Charora, Anoopshahar, Bulandshahar. And the persons who are showing their lands are given to assessee on lease has also mortgaged their land before the Oriental Bank of Commerce, Charora, Anoopshahar, BSR. Hence contention/explanation of the assessee is not satisfactory. Since, assessee fail to explain the exact sources of above deposits of ₹ 1,00,000/-, hence, addition of ₹ 1,00,000/- is being hereby made to the total income of the assessee on account of Cash deposit into the bank account of the assessee from undisclosed sources. [Addition: ₹ 1,00,000/-]. Cash Deposit of ₹ 40,000/- on 17.09.2008:- In this respect assessee explained the source of deposit that it is - Re deposit withdrawal made on 15.07.2008. Assessee's explanation in this regard is not satisfactory. Being on going over the frequency of transactions it was found that the assessee had deposited ₹ 2,00,000/- on 19.08.2008. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Oriental Bank of Commerce, Charora, Anoopshahar, BSR. Hence contention/explanation of the assessee is not satisfactory. Since, assessee fail to explain the exact sources of above deposits of ₹ 1,00,000/-, hence, addition of ₹ 1,00,000/- is being hereby made to the total income of the assessee on account of Cash deposit into the bank account of the assessee from undisclosed sources. [Addition: ₹ 1,00,000/-]. Cash deposit of ₹ 2,00,000/- on 30.01.2009:- In this respect assessee explained the source of deposit that it is Receipt from Sale of Suger Cane . This contention of the assessee is wholly devoid of merit and liable to be rejected on several grounds as follows:- i) Vide order sheet entry dated:02.08.2011 assessee was specifically asked to furnish the Name complete address of the Institution/Person to whom Suger Cane Wheat were sold. Further on this very day assessee was asked to furnish the Quantity of Suger Cane Wheat the rate @ on which Suger Cane Wheat were sold. But assessee neither could furnish the name Complete address of the Persons/Institution whom Suger Cane Wheat were sold nor he could furnish its ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction further discreet enquiry was made, in the wake of enquiry it was found that some associates of the assessee has purchased the property from Mr.Pawan Kumar Agarwal Rekha Devi Agarwal of Silliguri. And assessee provided accounted money through routing/depositing his un-accounted money and by making draft. In view of this fact, it is also deciphered that the assessee is also using his bank account for providing accommodation / fake entries. In view of these foregoing facts of the case explanation offered by the assessee in respect of Cash deposits of ₹ 4,00,000/- on 09.02.2009 is not satisfactory. Since, assessee fail to explain the exact sources of aforesaid cash deposits of ₹ 4,00,000/-, hence, addition of ₹ 4,00,000/- is being hereby made to the total income of the assessee on account of Cash deposit into the bank account of the assessee from undisclosed sources. [Addition: ₹ 4,00,000/-]. Accordingly, the addition of the impugned amount was made. 6. Being aggrieved the assessee carried the matter to the ld. CIT(A) and submitted that the assessee had sizable agricultural holdings on which he had been doing agricultural operation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ew of the deposits were out of the earlier withdrawals but this fact has not been considered by the AO and the ld. CIT(A). Therefore, the addition made by the AO and sustained by the ld. CIT(A) was not justified. 9. In his rival submissions the ld. DR strongly supported the impugned order passed by the ld. CIT(A) and reiterated the observation made by the AO and the ld. CIT(A) in their respective orders. 10. I have considered the submissions of both the parties and carefully gone through the material available on the record. In the present case, it appears that the AO while making the impugned additions has not considered the explanation of the assessee in right perspective, even he has not considered the earlier withdrawals which were re-deposited by the assessee and had also not given due weightage to the agricultural income earned by the assessee. I, therefore, by considering the totality of the facts deem it appropriate to set aside this issue back to the file of the AO to be re-adjudicated in accordance with law after providing due and reasonable opportunity of being heard to the assessee. 11. In the result, appeal of the assessee is allowed for statistical purposes. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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