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TMI Blog2019 (4) TMI 1470X X X X Extracts X X X X X X X X Extracts X X X X ..... depositing. Considering all the aspects, we delete ₹ 5,00,000/- (Rupees Five Lakhs only) on an estimate basis out of total addition made by the AO and confirmed by the ld.CIT(A). - Decided partly in favour of assessee. - ITA No.3471/Ahd/2016 - - - Dated:- 25-3-2019 - SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI PRADIPKUMAR KEDIA, ACCOUNTANT MEMBER For The Assessee : Shri Pritesh Shah, AR For The Revenue : Shri Aiotya Shukla, Sr.DR ORDER PER RAJPAL YADAV, JUDICIAL MEMBER: Assessee is in appeal before the Tribunal against order of the ld.CIT(A), Gandhinagar dated 29.11.2016 passed for the Asstt.Year 2008-09. 2. Solitary grievance of the assessee is that the ld.CIT(A) has erred in confirming addition of ₹ 11,67,269/- which was added by the AO on account of unexplained cash deposit in the bank account. 3. Brief facts of the case are that the ld.AO got information that the assessee has deposited a sum of ₹ 20,63,898/- in cash in his saving bank account during the accounting year relevant to the Asstt.Year 2008-09. The assessee has not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was deposited. However, no books of accounts and the mode of business disclosed during the appellate proceedings. Hence, the contentions made by the appellant do not help him. Considering the above facts, the claim of the appellant cannot be accepted without evidences and the addition made by the AO of ₹ 11,67,270/- is held justified and is hereby confirmed. 4. With the assistance of the ld.representatives, we have gone through the record carefully. Section 68 of the Income Tax Act contemplates that where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof, or the explanation offered by the assessee is not, in the opinion of the AO satisfactory, then the sum so credited in the accounts may be treated as income of the assessee of that previous year. 5. During the course of hearing, the ld.cousnel for the assessee was unable to point out source from where these amounts were deposited in the bank. He has just tabulated certain details from the bank statements and took us through pages 38 and 39 of the paper book. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 105000 29/03/2007. 180925 105000 10000 11/04/2007. 10000 10000 17/04/2007. 10000 5000 18/04/2007. 136803 5000 67000 17/08/2007. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 950 77050 Deposited by Wife out of Her past savings 77050 23/01/2008. 99950 Deposited by assessee out of his past savings 99950 28/01/2008. 125000 Deposited by assessee out of his past savings 125000 01/02/2008. 32000 Out of Current Year's Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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