9911796707
TMI Blog2005 (3) TMI 100X X X X Extracts X X X X X X X X Extracts X X X X ..... he addition of Rs. 1,32,442 cannot be made in the income of the assessee on account of unexplained deposits in the savings bank account No. 13272 in the State Bank of India, Hamidiya Road, Bhopal, held by the assessee jointly with Smt. Kashi Bai even though Smt. Kashi Bai did not sign the account opening form nor she operated this bank account at all?" The assessee did not maintain accounts nor had any record of day to day receipts and expenses. After a search, the Revenue reopened the completed assessment and sought details of sources of assets and investments. The assessee furnished a cash flow statement. Not being satisfied the Assessing Officer prepared a cash flow statement for the assessment year 1987-88 and worked out the peak of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d from the cash flow statement of the appellant." In an appeal by the Revenue in I.T.A. No. 719/Ind/97, the Income-tax Appellate Tribunal, Indore Bench, by order dated November 15, 2002, affirmed the finding of the Commissioner of Income-tax (Appeals) holding that the order of the Commissioner of Income-tax (Appeals) was comprehensive and supported by convincing reasons and did not contain any infirmities. Dealing with the features pointed out by the Assessing Officer, the Tribunal held that Smt. Kashi Bai, the mother of the assessee, being an old lady, there was nothing abnormal in Kashi Bai taking the assistance of her daughter (the assessee) and employees of her daughter's family (like Arun Sharma) in opening the account and operating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of Smt. Kashi Bai relating to the assessment year 1987-88, has apparently not been challenged and has attained finality. If that is so, the credits/remittances made to the joint savings bank account No. 13272 cannot be treated as unexplained deposits by the assessee and added to her income. The decision of the Commissioner of Income-tax (Appeals) in the case of the assessee for the assessment year 1987-88 confirmed by the Tribunal, is based on the said decision in Smt. Kashi Bai. So long as the decision of Smt. Kashi Bai for the assessment year 1987-88 stands, the Revenue cannot obviously contend to the contrary in the case of the assessee. Further, appreciating the evidence, the Commissioner of Income-tax (Appeals) and the Tribunal have ..... X X X X Extracts X X X X X X X X Extracts X X X X
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