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TMI Blog2018 (3) TMI 1180X X X X Extracts X X X X X X X X Extracts X X X X ..... remain compliant with the notices of hearing and should not take unnecessary adjournment unless otherwise required. - ITA Nos. 782 & 783/Ind/2016, ITA Nos. 781 And 1020/Ind/2016 - - - Dated:- 20-3-2018 - Shri Kul Bharat, Judicial Member And Shri Manish Borad, Hon ble Accountant Member For The Appellant : Shri R.P. Mourya For The Respondents : None ORDER PER SHRI MANISH BORAD, AM This bunch of four appeals are directed at the instance of the revenue relating to two assessees for the assessment year 2009-10 out of which two are against deletion of quantum addition and the remaining two are against deletion of penalty imposed u/s 271(1)(c) of the Act. ITA No. 781/Ind/2016 782/Ind/2016 are directed against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ather, late Shri Ram Prasad Bunglewala was sold during F.Y. 2008-09 for a sum of ₹ 1,91,80,000/- and payment towards sale consideration was received through cheque as well as cash. Part of the cash was deposited in the assessee s account and some portion was deposited in the account of the mother of the assessee, Smt. Rukmabai. Thereafter, the Assessing Officer carried out necessary inquiries from the purchaser company i.e. Makewell Developers Pvt. Ltd. and observed that as per the registry the sale consideration was shown at ₹ 1,60,00,000/- whereas the assessee has disclosed the for sale consideration of ₹ 1,91,80,000/-. There was further mis-match with regard to the amount received by assessee as to whether it was throug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - out of total addition of ₹ 1,72,00,000/- made by the A.O. on account of illegal cash credit even though the assessee did not explain proper source of the same, nor was any documentary evidence filed regarding availability of cash with the assessee. Thus, the amount remained undisclosed income in the hands of the assessee u/s 68 of the IT Act. (ii) Whether in the facts and in the circumstances of the case, the ld. CIT(A) erred in allowing the appeal of the assessee by passing his order even before the submission of the remand report. ITA No.782/Ind/2016 Smt.Rukmabai Bunglewala (i) Whether in the facts and in the circumstances of the case, the ld. CIT(A) erred in law in deleting the addition amounting to ₹ 40,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved with deletion of quantum addition has also raised a ground against the order of the Commissioner of Income Tax (Appeals) which has been passed without awaiting the remand report called from the Assessing Officer. 7. The learned DR vehemently argued supported the order of the Assessing Officer and further submitted that the Commissioner of Income Tax (Appeals) has given relief to the assessee on the basis of cash flow statements and other documents which never came up before the Assessing Officer for examination. Further, the Commissioner of Income Tax (Appeals) did not wait for the remand report from the Assessing Officer which was very much crucial for adjudication of the issue and, therefore, an opportunity may be given to the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tails of cheques received in the account of the assessee/his mother/his grand-mother as well as remaining portion in cash or whether the cheques were not account payee and who has withdrawn the cash from the bank and subsequent thereto, the basis of depositing the cash in various bank accounts is also not clear on going through the orders of the lower authorities. (iv) A detailed cash flow has been submitted before the Commissioner of Income Tax (Appeals) and there are plethora of entries in cash flow statement and in our view a remand report from the Assessing Officer was a must for verification of various details. (v) Taxability of transaction is also one of the issues because the impugned land was owned by the grand-father Mr. Ramp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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