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TMI Blog2018 (9) TMI 1016X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee has deposited cash of Rs. 11,89,000/- in S.B. account No. maintained with State Bank of India, Forest Park, Bhubaneswar. In reply to show cause notice, the assessee submitted that the cash deposited in SBI Account No. 30374416512 was out of the previous year's withdrawals from the assessee's bank account and cash loan repayment by the following persons on different dates, who had taken the loans from the assessee: Sl. No. Name of the person Date Loan amount taken Loan amount repaid 1. Raunak More 7.11.2014 1,20,000 7.11.2014 1,20,000 2. Yasodadevi Mara 2.6.2014 1,50,000 11.11.2014 1,50,000 3. Sunli More 12.12.2014 80,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same as genuine. 6. With regard to 14 persons from whom, the assessee received loan below Rs. 20,000/- aggregating to Rs. 2,60,000/-, the Assessing Officer made addition on the ground that the assessee did not file confirmation with complete addresses. Further, the Assessing Officer also did not accept the explanation of the assessee that balance amount of Rs. 4,29,000/- deposited in the bank account where the assessee claimed that they were deposits out of earlier year's withdrawals made from the bank on the ground that it was an afterthought to adjust the undisclosed income from other sources. The assessee produced cash book before the Assessing Officer to explain the source of deposit in the bank account and the same was also rejec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to why the cash was withdrawn in the first place and that the assessee has not explained his family expenses for household expenses. Thus, he confirmed the order of the Assessing Officer making the addition of Rs. 6,89,000/. 10. Before us, ld A.R. reiterated the submissions which were made before the lower authorities. He filed statement together with bank statement of SBI, showing deposit and withdrawals of cash in the bank account and submitted that it can be seen that the amount deposited in the bank account of Rs. 4,29,000/- was out of earlier withdrawals and hence, he submitted that same should be accepted and addition should be deleted. He submitted that this information has been culled out from the cash book of the assessee which we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer. 14. Being aggrieved by this order of the CIT(A), the assessee is in appeal before us. 15. Ld A.R. of the assessee submitted that the assessee has withdrawn Rs. 5,30,000/- in cash during the year out of which Rs. 4,29,000/- was deposited back in the bank account. The Assessing Officer as well as the CIT(A) were of the view that if the entire withdrawals were deposited back in the bank account, then the assessee did not have sufficient amount left with him for his household expenses. Hence, the explanation of the assessee was not accepted. Ld A.R. of the assessee submitted before us that the assessee is aged about 46 years and has been filing his returns of income for the last 10 years. He submitted that the assessee has filed returns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation or details were filed before him during the course of assessment proceedings. 19. On appeal before the CIT(A), the assessee filed confirmations of the said 14 persons which were not accepted by the CIT(A) on the ground that they are additional evidences filed before him and the assessee could not explain why they were not filed before the Assessing Officer when the assessment order is dated 28.12.2017 and the confirmations filed before him were all dated 1.4.2015. We also find that the assessee explained that he has filed cash book before the Assessing Officer as well as the CIT(A) which was not accepted by stating the same to be afterthought. In our considered view, the Assessing Officer as well as the CIT(A) after examining the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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