Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2019 (3) TMI 531

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... roperty of assessee’s brother is also available to him being the amount getting in joint family. All these documents in the paper book have not been disputed by the authorities below. Assessee further submitted that apart from it, assessee has salary income, which have not been taken into consideration. These facts clearly show that assessee has source to make deposit in the bank account. - Decided in favour of assessee. - ITA.No.1760/Del./2018 - - - Dated:- 8-3-2019 - Shri Bhavnesh Saini, Judicial Member For the Assessee : Shri Rajiv Saxena And Shri Sankalp Sharma For the Revenue : Shri S.L. Anuragi, Sr. D.R. ORDER This appeal by assessee has been directed against the order of Ld. CIT(A)-I, Noida, Dated 28th Novemb .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... duce in a sum of ₹ 17,01,643/- is very exorbitant. The Ld. CIT(A), however, accepted that assessee has owned agricultural land and is engaged in agricultural activities. The Ld. CIT(A) accepted the sale consideration of ₹ 6,09,375/- out of sale of the property, of which, benefit was given to assessee. Further on account of agricultural income, Ld. CIT(A) accepted the claim of assessee in a sum of ₹ 3,12,500/-. Therefore, source of cash deposited in a sum of ₹ 9,21,875/- was accepted and addition to that extent was deleted, restricting the addition to ₹ 11,51,521/-. 3. The assessee is in appeal challenging the addition of ₹ 11,51,521/-. 4. We have heard the Learned Representatives of both the part .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... me. The Ld. CIT(A) also partly accepted the explanation of assessee for sale of property, but, assessee explained that the share of property of assessee s brother is also available to him being the amount getting in joint family. All these documents in the paper book have not been disputed by the authorities below. Learned Counsel for the Assessee further submitted that apart from it, assessee has salary income, which have not been taken into consideration. These facts clearly show that assessee has source to make deposit in the bank account. The explanation of assessee is thus accepted and entire addition is deleted. 8. In the result, appeal of Assessee allowed. Order pronounced in the open Court. - - TaxTMI - TMITax - Inc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates