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TMI Blog2019 (1) TMI 587X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961 (the Act) concerning AY 2012-13. 2. As per its grounds of appeal, the assessee is aggrieved by the action of the Revenue in making additions of Rs. 10,18,300/- as unexplained cash deposits which amount represents aggregate cash deposit in the bank account. 3. Briefly stated, the assessee filed its return of income declaring total income of Rs. 55,09,110/- which predominately included from salaries of Rs. 52,37,231/- earned in UK which is not taxable in India as the status of the assessee is a non-resident Indian (NRI). The return filed by the assessee was subjected to scrutiny assessment. In the course of scrutiny assessment, the AO inter alia observed certain cash deposits in the bank account of the assessee in HDFC aggregating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the reply of the assessee and found the explanation for the source of cash deposits to be unsatisfactory. Accordingly, addition of Rs. 10,18,300/- was made in the hands of the assessee towards such unexplained cash deposits. 5. Aggrieved, the assessee preferred appeal before the CIT(A). The CIT(A) re-visited the facts before it and was also of the same view that the explanation offered by the assessee in support of cash deposits were not satisfactory. Consequently, appeal of the assessee was dismissed. 6. Further aggrieved, the assessee preferred the appeal before the Tribunal. 7. Learned AR for the assessee submitted at the outset that the entire cash deposits of Rs. 10,18,300/- requires to be divided in two parts i.e. Rs. 2,57,500/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he explanation and the additional evidence adduced and consequently, the additions made towards cash deposits be deleted. The learned AR thereafter relied upon certain decisions to augment its case. 8. The learned DR, on the other hand, relied upon the order of the AO and submitted that the bank statement showing cash deposit on various dates shows a peculiar and uniform pattern of cash deposits below Rs. 50,000/- on all occasions except at one instance. It was thus argued that such pattern shows that the assessee has deliberately used the peculiar way to avoid inquiry while depositing his unaccounted cash money. The learned DR further submitted that the claim of Rs. 19 Lakhs in three tranches on 25.11.2011 as cash withdrawal is also witho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ularly when the assessee has already gone abroad (UK) for job purpose on 21.11.2009. Thus, we hardly find any semblance of bonafide in the plea of the assessee on the source of such cash deposits. The typical pattern of deposits below Rs. 50,000/- in multiple tranches only accentuates the lack of bonafides. Nevertheless, possibility of holding some cash at any point of time cannot be entirely ruled out. In the absence of any evidence, we resort to estimations for probable holding of cash by a person of ordinary prudence and assign the same to be Rs. 1 Lakh. Therefore, we deem cash deposit to the extent of Rs. 1 Lakh out of Rs. 2,57,500/- as explained. Accordingly, remaining addition to the extent of Rs. 1,57,500/- is sustained. 10. Continu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e notice of the decision of the Hon'ble Gujarat High Court in the case of CIT vs. Sarvankumar Sharma (2014) 49 taxmann.com 101 (Guj) where the additions on account of cash deposits were sustained where the explanation was found to be unsubstantiated. It is ostensible that the determination of issue in question is dependent entirely on facts. No abstract law is plausible in such cases. We now take note of the decision of Hon'ble Gujarat High Court in the case of CIT vs. Manoj Indravadan Chokshi (2014) 50 taxmann.com 419 (Guj) cited on behalf of the assessee but however find it of no avail to the assessee in view of altogether different facts. The Hon'ble Gujarat High Court, in essence, observed that once the source of cash deposit in the ban ..... X X X X Extracts X X X X X X X X Extracts X X X X
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