9911796707
TMI Blog2017 (6) TMI 559X X X X Extracts X X X X X X X X Extracts X X X X ..... epresentative appeared on behalf of assessee and Shri Rajat Kr. Kureel, Ld. Departmental Representative represented on behalf of Revenue. 2. Only issue raised by assessee in this appeal is that Ld. CIT(A) erred in confirming the addition to the extent of Rs.19,85,008/- on account of cash deposited in bank. 3. Briefly stated facts are that assessee is an individual and engaged in the business of readymade garments. During the course of assessment proceedings, Assessing Officer observed that on the basis of ITS data that assessee has deposited a sum of Rs. 30.53 lacs whereas the assessee has shown his gross receipt from the business for Rs.20,35,960/- only. Thus, AO observed the mismatch between the amounts of gross receipt shown by assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in Bank of India, Bhowanipur Branch, Kolkata during the F.Yr 2007-08. The aforesaid addition was made u/s. 68 of the IT Act, 1961. The Ld. A/R of the appellant submitted that the total deposits in the said bank account was only Rs. 19,85,008/-. It was also contended that the appellant had shown gross receipt/gross turnover of Rs. 20,45,960/- which covers cash deposits of Rs. 19,85,008/-. The argument of the Ld. A/R of the appellant that the gross receipt shown by the assessee included cash deposits of Rs. 19,85,008/- made in the bank is not acceptable for want of evidence. I am of the considered view that the appellant has squarely failed to produce any evidence to substantiate his explanation. Neither books of accounts nor any such bills ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw and on facts in making addition to the extent of (Rs.30,53,000 - 19,85,008) = Rs. 10,67,992/-. Accordingly, the AO is directed to delete the addition to the extent of Rs. 10,67,992/-. However the balance addition of Rs. 19,85,008/- is confirmed. Accordingly, the first ground of appeal is partly allowed." Being aggrieved by this order of Ld. CIT(A) the assessee came in second appeal before us on the following grounds:- "During the financial year 2007-08 relevant to the assessment year 2008-09 the assessee deposited total amount of Rs. 19,85,008/- in his bank account held with Bank of India, Bhawanipore Branch. During the year 2007-08, he filed his return of income showing sales turnover of Rs. 20,45,960/-. Against that he has declared ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing total turnover of Rs. 20,45,954/- only. As per Ld. AR the entire deposit made in the bank account is part and parcel of the turnover declared in the return income of assessee. However, we find that the Authorities Below rejected the claim of assessee by observing that necessary documents such as books of account and other details were not furnished. Admittedly, the assessee has filed his return of income declaring total gross receipt of Rs.20,45,960/- u/s. 44AF of the Act. This fact has not been disputed by Authorities Below. Once the turnover has been accepted then no further addition can be made on account of money deposited in the bank account of assessee. On perusal of bank account which is placed on pages 39 to 45 of the paper book ..... X X X X Extracts X X X X X X X X Extracts X X X X
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