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TMI Blog2017 (6) TMI 829X X X X Extracts X X X X X X X X Extracts X X X X ..... ould be extended benefit to the assessee, the answer would be that such attempt to build capital cannot be accepted unless there was some evidence of record to justify accumulative of funds or the availability of the opening capital balance. - Decided against assessee. Addition on account of sale of trees to Shri Khalil - Held that:- In the absence of any evidence to prove that assessee was owner of popular trees or he has actually sold the popular tree to Mr. Khali, no interference is called for in the matter. Similarly production of receipt and statement recorded by AO orally is not sufficient to discharge onus upon assessee to prove genuineness of the transaction in the matter and actual sale transaction of popular tree. In the absenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invested ₹ 1,80,000/- for purposes of business. The AO rejected the explanation as the assessee did not have any documentary evidence to substantiate his contention and treated the sum as his unexplained investment. In appeal it was submitted by assessee that the assessee had furnished his return of income for asstt. year 2008-09 showing capital balance of ₹ 2,40,000/- and mentioned that out of the same an amount of ₹ 1,80,000/- had been invested in asstt. Year 2009-10 for wine shop. A copy was also filed in support of the contention. Ld. CIT(A) noted that assessee was not assessed to tax regularly. The return of income for asstt. Year 2008-09 was furnished on 16th September, 2009 i.e almost simultaneously with the return ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... receding assessment year 2008-09 was furnished on 16th September, 2009 i.e after filing of the return for assessment year under appeal. It is also admitted facts that assessee was not regularly assessed to tax. Therefore, there was no evidence available with the assessee of having any opening balance with him in preceding assessment year 2008-09 as well as there were no evidence available to have accumulated amount of ₹ 2,40,000/- in earlier years. The assessee in the earlier year 2008-09 has shown withdrawals of ₹ 60,000/-. Ld. Counsel for assessee admitted that in that year assessee was having his wife and two sons. Therefore assessee deliberately shown petty withdrawals. Therefore, when the matter was taken up for assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f sale of trees from Mr. Khalil. Mr. Khalil appeared before the AO and confirmed the transaction. He also submitted that he had received money from a commission agent of timber. The AO was not satisfied with the explanation of the assessee as no documentary evidence relating to the transfer of money between the commission agent and Mr. Khali and between him and the assessee was produced. The AO therefore treated the said sum of assessee s undisclosed income. In appeal, assessee submitted that he had discharged its onus by producing Mr. Khalil and that he was not required to explain the source of money in the hands of the latter. Ld. CIT(A) found that merely because Mr. Khalil has confirmed giving money to the assessee, it would not mean tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee is accordingly dismissed. 10. In the result appeal of assessee is dismissed. ITA 2940/DEL-2013 Assessment Year 2009-10 11. This appeal by assessee has been directed against order of Ld. CIT(A) Dehradun I dated 18th February, 2013 for assessment year 2009- 10. 12. Ld. Counsel for assessee did not press ground No. 4 of appeal of assessee. The same is dismissed as not pressed. Ground No. 1 and 2 are general which need no adjudication. 13. In Ground No. 3 assessee challenged the addition of ₹ 1,20,000/- out of opening capital of ₹ 2,20,000/-. Ld. Representative of both the parties submitted that this issue is same as has been considered on ground No. 3 of appeal of assessee Late Shri Prem Singh in ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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