9911796707
TMI Blog2012 (8) TMI 1147X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Revenue is as under:- "On the facts and in the circumstances of the case, the ld. CIT(A) has erred in deleting addition of ₹ 91,08,000/- by accepting the explanation given by the assessee with regard to source of cash deposited in the F.Y. 2005-06 purported to have been withdrawn from HUF's account in the F.Y. 2003-04 without considering the fact that the assessee was allowed sufficient opportunity to explain the source of the amount of cash deposited." 2. Briefly stated, the facts of the case are that the assessee filed his return for AY 2006-07 on 31.3.2007 declaring an income of ₹ 2,45,570 and the return was processed and subsequently selected for scrutiny on the basis of AIR information received. The Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entioned in that report as the amount of cash deposited by the appellant. The appellant has given a reasonable explanation that some of the entries have been repeated in the AIR information. This fact is clearly proved by the certificate from the HDFC bank dated 23.11.2009, which was furnished before me. Regarding the undisputed amount of ₹ 32,86,000/-, I hold that the source of the same gets clearly explained by availability of heavy amount of cash from the bank account of the HUF of which the appellant was the Karta. It was informed that in view of the prolonged illness of the appellant, his wife used to manage even the accounts of the above HUF. The appellant has sufficiently furnished the source for cash withdrawal from the HUF ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... side restoring the assessment order. 5. The assessee's representative vehemently contested the above submissions and submitted that the Assessing Officer made an addition on the basis of wrong mathematical calculation and misinterpretation of the facts of the case. The AR also submitted that assessee properly and clearly explained the source of cash deposited in HDFC bank account as there was sufficient availability of cash amount from the bank account of the HUF of which the appellant's wife was Karta and the appellant was Vendor of the HUF. The AR finally submitted that the assessee succeeded to substantiate the fact that the source of cash deposited to his account was withdrawals from the HUF bank account to which sufficient funds were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al evidence. 7. On bare reading of the impugned order, we observe that the ld. Commissioner of Income Tax(A) considered the assessment order with an open mind and firstly he arrived to the conclusion that the impugned cash deposited was only of ₹ 32,86,000 and the Assessing Officer wrongly calculated the figure at ₹ 91,08,000/-, and this fact has not been disputed by ld. DR before us. We further observe that the ld. Commissioner of Income Tax(A) admitted the additional evidence with the following observations:- "On careful consideration of the facts of the case and the various conditions entailed in Rule 46A, I find that the major addition was on account of unexplained cash deposits in the bank statement. For this purpose, ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... produce any evidence or document in rebuttal of the additional evidence produced by the appellant. 10. At this juncture, we are inclined to take notice of judgment of Hon'ble Jurisdictional High Court of Delhi in the case of Commissioner of Income Tax vs Manish Build Well (P) Ltd. in ITA No.928/2011 dated 15.11.2011 reported as (2011) 63 DTR Judgements 369 wherein their lordships held that after admission of additional evidence, it is mandatory to follow Rule 46A(3) of the Rules but in the case in hand, we observe that the ld. Commissioner of Income Tax(A) merely proceeded to decide the matter on the objections of Assessing Officer on admission of additional evidence because as per letter of the Assessing Officer dated 24.12.2009 availabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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