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TMI Blog2018 (9) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... credited in the names of 6 persons. The said amount received from the sale proceeds of the land can not be stated to be related to the assessee as well as the other six persons at a same time. If it was to be presumed that said amount belonged to the assessee then there should have been another amount which was deposited in the bank account of the six persons. Nothing is brought on record to substantiate that the amount deposited in the bank account of the assessee by mistake, was different from the amount deposited in the bank account of the six persons out of the sale proceeds of the agricultural land. Impugned addition made by the AO and sustained by the Ld. CIT(A) was not justified. Addition made by the AO and sustained by the Ld. CIT(A) is deleted. - Decided in favour of assessee - ITA No. 6746/Del/2014 - - - Dated:- 27-8-2018 - Sh. N. K. Saini, AM And Ms. Suchitra Kamble, JM Assessee : Sh. Ved Jain, CA And Sh. Ashish Chadha, CA For The Revenue : Sh. Kaushlendra Tiwari, Sr. DR ORDER Per N . K . Saini, AM: This is an appeal by the assessee against the order dated 14. 10. 2014 of ld. CIT(A), Rohtak. 2. Following grounds have been raised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and cancelled . 3. From the above grounds, it is gathered that the grievance of the assessee relates to the confirmation of addition of ₹ 1, 62, 50, 000/- made by the AO. 4. Facts of the case in brief are that the assessee is a salaried person working with Birla Sun Life Insurance Company, Charkhi Dadri. The return of income was e-filed by him on 22. 11. 2011 declaring an income of ₹ 2, 96, 270/- which was processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter referred to as the Act). Later on, the case was selected for scrutiny through CASS. During the course of assessment proceedings, the AO noticed that the assessee was maintaining bank account with Oriental Bank of Commerce, Charikhi Dadri, copy of which was obtained from the bank which revealed that the assessee made cash deposits of ₹ 1, 57, 50, 000/- and ₹ 5, 00, 000/- on 17. 02. 2011 in cash. However, cash entry of ₹ 1, 57, 50, 000/- was reversed on the same day. The assessee was required to explain the source of cash deposit and his statement was recorded. The assessee stated that he did not make deposit of ₹ 1, 57, 50, 000/- and that he made the deposit of ₹ 5, 00, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - 1 . Since no assets were either purchased or sold during the last two years in my individual capacity . There for the required information may kindly be treated as nil . 2 . No movable or immovable property was acquired by me in my individual capacity nor any of members of my family acquired any such property in their individual hands in the last two years . 3 . I, maintained bank account with the HDFC bank, which is salary account and with the Axis Bank, where my salary was received previously . Copies of Bank accounts are already on the records . The bank account with the OBC belong to my HUF which was opened after the sale of agriculture land fallen in my share after the death of my father 25 years back . Copy of bank account with the OBC is also on record . My wife also maintained bank account with the OBC Charkhi Dadri which has been opened after the sale of agriculture land of our HUF . She is also copartner of the HUF . This account was also opened at the time of sale of agriculture land belonging to our HUF . 4 . Neither any land/plot/house was sold during the last three years in my individual status . So far ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jeet, Bhupender, Sher Singh sons Prem and Raj Kumari daughters after the death of my tau ji 20 years back . The family tree is as under:- Shree Ramji Lal (Grand Father) 1 . Laxminarain 2 . Dariyao Singh 3 . Vijay Singh Panmeshwari (Widow) Baljeet (Son) Bhupender Singh (Son) Sher Singh(Son) Prem(Daughter) Raj Kumar (daughter) Saroj(Widow) Anil Kumar (Son) Sunil Kumar (Son) Hemlata (Daughter) he is alive . The agriculture land situated outside Municipal limit charkha Dadri measuring 15 Kanal 1 Maria belonging to Shri Sunil Kumar (Son) and mother Saroj (Widow) sold above said land for consideration of Rs, 75, 25, 000/- on 15-02-2011 full -and final payment was received in the non banking hours on 16-02-2011 . The deed of conveyance was to be executed on 16-02-2011 as the stamp worth Rs . 49500/- were purchased on 15-02-2011 . Due to social problem with the purchaser, he requested that I am making full and final payment but the sale deed will be executed after one month . Thus the sale deed was execu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Shri Kulwant our cousin brother . On 17-02- 2011 when I reached the bank, the bank manager told me that the amount has been deposited in the name (sunil Kurnar) . When I told him that the amount belonged to the above said family members and it is not my individual amount, he felt sorry and stated that he will reverse the entry . Therefore, the reverse entry worth Rs . 1, 57, 50, 000/- was made . Neither any deposit form or withdrawal form was signed by me . Since the amount of Rs . 75, 25, 000/- belonged to my HUF share and share of my mother Smt . Saroj . Thus I opened the bank account with the OBC on 17-02-2011 and deposited Rs . 5, 00, 000/- . My wife is also member of my HUF a sum of Rs . 17, 25, 000/- was deposited in the name of Smt . Veena Rani W/o Sh . Sunil Kumar . Half of the amount which works out of Rs . 37, 62, 500/- . share belonged to my mother Smt . Saroj, she has taken the cash and refused to the deposit the same with the bank . ] Rest of the amount which works out to Rs . 1, 23, 50, 000/- belonging to the three bothers namely Shri Barjeet, Bhupender and Sher Singh and Smt . Prem and Raj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missions of the assessee observed that the land in question was sold after the deposit of ₹ 1, 57, 50, 000/- and ₹ 5, 00, 000/- and no evidence had been filed by the assessee in regard to receipt of sale proceeds of the above land. The AO also recorded the statements of the persons in whose accounts, the amounts were deposited and observed as under: i) Annu D/o Sh . Baljeet Singh . In the bank account of this lady, a sum of Rs . 20 lacs were deposited . In her statement, Miss Annu deposed that she received a sum of Rs . 20 lacs from his father out of sale proceeds of his land on 17-02-2011 which was deposited by her in the bank . She did not know the details as to when sale of land was effected particularly when she claimed that she has to do home affairs as his father is not mentally sound . ii) Smt . Sushila Devi . In the bank account of this lady, a sum of Rs . 25 lacs were deposited . In her statement, she stated that she made cash deposit of Rs . 25 lacs after opening a bank account which was received from her husband after sale of land . She did not know the details of land holding, date o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made that the amounts were deposited in the account of different persons out of sale proceeds of land . Had this was a true story, the assessee could have explained this position on 08-01-2014 itself when his statement was recorded . On 08-01-2014 he could not explain the source of deposit except that it will be explained lateron . 10. Being aggrieved the assessee carried the matter to the ld. CIT(A) and submitted that the AO on the basis of the statement of Sh. Ved Parkash, Manager of the bank held that the deposition made by the assessee in his statement was not true. It was further submitted that the AO recorded the statements of the persons in whose accounts, the cash was deposited and the said persons stated that money was deposited in cash after selling the agricultural land coming from their big grandfather to grandfather to their father and then in the hands of all the sellers. It was further stated that the conveyance deed duly executed by all such persons were submitted to the AO. The total sale consideration in all the sale deed was as under: S . No . Conveyance Deed No . with date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mits of Charkhi Dadri, the deed of conveyance was to be executed on 16. 02. 2011 and all the stamp papers were purchased on 15. 02. 2011 which was proved by the conveyance deed itself which was to be executed on 16. 02. 2011 but due to certain problems with the purchasers who requested that the sale deed would be executed lateron, but full and final payments was made to the sellers and the deed was executed on 22. 03. 2011 nearly about 34 days of making the full and final payment. It was contended that the AO never required any evidence in support of his disbelieving the assessee s statement and that inspite of producing all the conveyance deeds during the course of assessment proceedings, it was brought to the kind notice of the A. O. by the assessee that the amount did not belong to him and he had never deposited the same with O. B. C. Charkhi Dadri on 17. 02. 2011. It was submitted that the AO himself had written a letter to the manager OBC Charkhi Dadri u/s 133(6) of the Act and the bank manager furnished the certificate as under: TO WHOM IT MAY CONCERN IT IS CERTIFIED THAT SH . SUNIL KUMAR PHOGAT S/O DARYAO SINGH R/O HEERA CHOWK NEAR AGGARWAL BHAWAN, CHARKHI DAD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the assessee vide order sheet entry dated 27. 01. 2014 to produce all the six persons by whom the money was received on account of sale of agricultural land belonging to HUF and all the persons were produced on 29. 01. 2014. The AO recorded their statements in which all of them stated that the money was received on account of sale of agricultural land coming from their forefathers. It was also stated that neither any cash voucher worth ₹ 1, 57, 50, 000/- nor any withdrawal form for this amount was filled up by the assessee or signed by him. So, it was a clear cut banking mistake which had occurred on 17. 02. 2011 and rectified on the same day by the banking authorities itself and that while forwarding the AIR information, the banking authorities had forwarded the same to the Income Tax department and it had become the selected case for scrutiny under CASS. The assessee also furnished the bank certificate in original dated 01. 08. 2014. It was further submitted that the assessee in his individual capacity was earning salary of ₹ 3, 00, 000/- per annum, so it was not possible for him to deposit such a huge amount in his individual capacity and that the AO while framing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tocopy of statement of Sh . Kulwant Singh dated 27-01-2014 recorded by the AO who carried on the cash worth Rs . 1, 57, 50, 000/- to the bank on 16-02-2011 after the banking hours . xii) Photocopy of the letter from the Manager OBC Charkhi Dadri dated 01-08-2014 in which the banking authority has categorically admitted that neither any credit voucher nor any debit voucher for above both entries was filled up signed by the depositor . xiii) English Translation of statement of Sh . Sunil Kumar, Sh . Ved Parkash, Sh . Kulwant Singh, Miss . Anu, Smt . Sushila Devi, Smt . Yashwanti, Sh . Sunny Smt . Veena Rani . 14. The ld. CIT(A) after considering the submissions of the assessee observed that it was incomprehensible as to how and why the Oriental Bank of Commerce, Charkhi Dadri branch accepted a sum of ₹ 1, 57, 50, 000/- in cash on 17. 02. 2011 deposited the same in the account of Sh. Sunil Kumar and reversed the said entry on the verbal request of the customer, Sh. Sunil Kumar. The Branch Manager, vide a letter dated 29. 01. 2014 has stated that the photocopy of the withdrawal form was not available because it was a ver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7145 dt . 22 . 03 . 11 7525000/- Sunil Smt . Saroj 2 . 7144 dt . 22 . 03 . 11 752500/- Baljeet, Bhupender Singh Sher Singh 3 . 7260 dt . 25 . 03 . 11 3650000/- Baljeet, Bhupender Singh Sher Singh (sons) 4 . 7263 dt . 25 . 03 . 11 1175000/- Baljeet, Bhupender Singh Sher Singh Total Sale consideration 19875000/- The total amount on the conveyance deed executed by Baljeet, Bhupender Sher Singh Ss/o Laxmi Narayan comes to ₹ 55, 77, 500/- and that executed by Sunil and his mother Smt . Saroj was ₹ 75, 25, 000/- . The family tree has been stated to be in the following order: Sh . Ramji Lal s/o Sh . Kishan Lal 1. Laxmi Narain (deceased) 2. Sh. Daryao Singh (deceased) 3. Sh. Vijay Singh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onging to six persons who were having the bank accounts and names of all the persons were appearing in the conveyance deed. It was further submitted that the property sold belonged to the HUF but the amount was wrongly deposited by the bank authorities in the account of the assessee and when they came to know the mistake, the said entry was reversed on the same day and deposited in the name of the persons to whom the amount belonged. A reference was made to page no. 51 of the assessee s paper book which is a certificate given by the bank manager. It was further submitted that the property was sold on 15. 02. 2011 which is evident from the date mentioned in the stamp papers used in conveyance deed. A reference was made to page no. 56 of the assessee s paper book. It was stated that the amount was received by the coparceners of HUF on 16. 02. 2011 and this fact has been mentioned in the sale deed also wherein it is written that the amount was received by the sellers at home and not at the time of registration of the conveyance deed which took place on 22. 03. 2011, therefore, the allegation of the AO that the amount in question was not relating to the sale deed was not maintainable, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Singh categorically stated that he want to the Oriental Bank of Commerce, Charkhi Dadri branch after the banking hours on 16. 02. 2018 to deposit a sum of ₹ 1, 62, 50, 000/- which belonged to Shri Bhupender Singh, Shri Baljeet Singh, Sher Singh, Shri Sunil Kumar, (the assessed) and Smt . Prem who sold 7. 5 acres of land and gave the money to him for depositing the same. He also stated that he is a son of the uncle of the assessee. He also stated that he went to bank on 17. 02. 2011 and requested the manager to open the accounts of Smt . Sushila wife of Shri Bal jeet Singh, Ms. Annu daughter of Shri Bal jeet Singh, Sh. Sunny Son of Bhupinder Singh, Smt. Yashwanti, wife of Sh. Bhupender Singh, Sunil Kumar, son of Shri Daryao Singh, Which is evident from page no. 72 and 73 of the assessee s paper book. Shri Kulwant Singh also stated that a sum of ₹ 1, 42, 25, 000/- was deposited in the account of the following persons :- 1. Sh. Sunil Kumar S/o. Sh. Daryao Singh ₹ 5, 00, 000/- 2. Smt. Yashwanti W/o. Sh. Bhupender Singh ₹ 50, 00, 000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng accounts :- (i ) Annu, D/o. Sh. Bal jeet Singh 012221911021044 20, 00, 000/ - (ii) Sh. Suni l Kumar Phogat S/o. Sh. Dariyao Singh 01222191021520 5, 00, 000/ - (iii) Smt . Sushila w/o. Sh. Bal jeet 01222191021568 25, 00, 000/- (iv) Sunny S/o. Bhupender Singh 01222191021551 20, 00, 000/- (v) Yashwanti W/o. Sh. Bhupender Singh 01222191021575 50, 00, 000/- (vi ) Veena Rani W/o. Sh. Sunil Phogat 01222191021650 17, 25, 000/ - 18. In the instant case, nothing is brought on record to substantiate that the amount was deposited by Shri Sunil Kumar, (the assessee) and it was withdrawn by him from his account because no deposit slip filled by the assessee. Sh. Sunil Kumar or withdrawal form was produced before the AO rather it was stated that no record was available with hi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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