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TMI Blog2019 (5) TMI 1164X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Assessing Authority and therefore, they called upon the Assessee to prove such credit entries. Despite the opportunity, by way of second round of litigation, provided by the learned Tribunal, it appears that the Assessee failed to prove the credit entries. We are also unable to appreciate the usage of credit cards in the name of the Assessee by third party, which requires signatures of the person concerned using such Credit Cards. Apparently, therefore, all those transactions were undertaken by the third parties on behalf of the Assessee himself and therefore, the defence pleaded by the Assessee that they were allegedly loan taken by Mr.Neelamegan and repayments made by him to the Bank account of the Assessee does not inspire an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rities especially when the opportunity of cross examination is not provided to the Assessee? ii) Whether on the facts and circumstances of the case, was the Tribunal correct in upholding the assessment order when the same Deponent has reversed his version by filing an Affidavit before the Tribunal, while cross examination of such Deponent was denied by the Assessing Officer and CIT(A)? 2. The relevant findings of the Tribunal in this regard are quoted below for ready reference:- 6. We have heard both sides, perused the materials available on record and gone through the orders of authorities below. It is a second round of litigation. Vide order dated 27.11.2013 in I.T.A.No.1327/Mds/2013 C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd by the assessee for ₹ 34,86,141/- was taken as unexplained expenditure and the Assessing Officer treated the same as deemed income as per section 69 of the Act and hence, assessed as income from other sources. 6.1 During the course of appellate proceedings, the learned CIT(A) called for the following details of M/s.Aakash Decors, M/s.C.R.Agenies, M/s.Jaya Medicals and M/s.Aruna Pharmacy, where the credit cards were stated to have used: i. PAN of these four concerns. ii. The copy of their ITR for the relevant period under consideration. iii. The addresses of income tax office where they were filing their return of income. iv. The copy of the ledge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he ground raised by the assessee stands dismissed. 3. Learned counsel for the Appellant-Assessee, Mr.Sathyanarayanan has submitted before the Court that the Original Assessment Order was passed by the Assessing Authority on 28.12.2011 for the Assessment Year 2009-2010 making some addition and disallowing the credit card payments to the tune of ₹ 34,86,141/- and the Appeal filed by the Assessee before the Commissioner of Income Tax (Appeals) came to be allowed by order dated 20.12.2012, however, the Tribunal, in the first round of litigation, remanded the case back to the Assessing Authority vide its order dated 27.11.2013. Upon remand, the learned Assessing Authority, again made the same additions by making the follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t it is not all possible to use the credit card by a third party. Mr.Neelamegan also stated that he has no idea of four stores-namely: M/s.Aakash Decors, M/s.C.R.Agencies, M/s.Jaya Medicals, M/s.Aruna Pharmacy, where the credit cards were used. The records of Mr.Neelamegan (AJBPM9737C) was collected from the concerned Jurisdictional officer. The Neelamegan's Bank account statement of HDFC account and ICICI Bank account statements, which was available in the Miscellaneous record were verified. It is seen from ICICI bank account of Mr.Neelamegan that only 3 cheques were issued by Mr.Neelamegan to the assessee: Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom other sources. 4. The learned counsel submitted that the Assessing Authority took a Sworn Statement of Mr.Neelamegan without affording the Assessee an opportunity of cross-examining the said person viz., Mr.Neelamegan, who was his friend and colleague in the Insurance Company in which the Assessee was serving as Legal Officer and the Credit Cards were allowed to be used by his friend Neelamegan. All the credit entries came through NEFT Transfers from various Firms viz., M/s.Aakash Decors, M/s.C.R.Agencies, M/s.Jaya Medicals, M/s.Aruna Pharmacy as repayment of loans taken by Mr.Neelamegan from the Assessee by usage of his Credit Cards. The Assessing Authority, however, disbelieved the said version on the basis of the Aff ..... X X X X Extracts X X X X X X X X Extracts X X X X
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