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TMI Blog2019 (6) TMI 438X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the creditor is a general letter without furnishing specific information, such as the date of receipt of streedhan and the cash flow till April, 2014. Therefore, we are unable to accept the contention of the assessee that the loan received from Smt. G.Lakshmi Bhavani as a genuine. The assessee failed to prove the creditworthiness and genuineness of the source, hence, we do not find any infirmity in the order of the ld. CIT(A) and the same is upheld. Loan from Sri Kodali Murali Mohan - the assessee has furnished the confirmation letter and also evidence for agricultural land holdings. The Assessing Officer simply scrutinized the confirmation letter and made the addition instead of examining the donor. Since the assessee prima-f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer called for explanation from the assessee with regard to the source of cash deposits and satisfied with the source to the extent of ₹ 13,75,000/- and brought to tax the balance amount of ₹ 10,22,000/- relating to the advances received from his wife Smt. G. Lakshmi Bhavani of ₹ 5.50 lakhs and Sri Kodali Murali Mohan of ₹ 5.00 lakhs. During the assessment proceedings, the assessee has filed confirmation letters from both the parties. In respect of Smt. G. Lakshmi Bhavani, she explained the source was her streedhan and Sri Kodali Murali Mohan explained the source was from his savings, out of agricultural income and salary but not produced any evidence to substantiate the sources received by the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he extent of ₹ 10,22,900/- as unexplained deposits in the bank account. The addition of ₹ 10,22,900/- consist of loan received from Smt. Lakshmi Bhavani for ₹ 5.00 lakhs and the gift received from Sri Kodali Murali Mohan for ₹ 5.00 lakhs and the same are discussed separately as under. 5. With regard to the loan of ₹ 5.00 lakhs, during the appeal hearing, ld.AR submitted that the assessee has received a sum of ₹ 5.00 lakhs from his wife Smt. G. Lakshmi Bhavani, for which confirmation letter enclosed and placed in paper book at page No. 21 and argued that since the lender has given confirmation letter, there is no need to make the addition in the hands of the assessee, hence, argued that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he creditworthiness and genuineness of the source, hence, we do not find any infirmity in the order of the ld. CIT(A) and the same is upheld. The assessee s appeal on this issue is dismissed. 8. The next loan was ₹ 5.00 lakhs from Sri Kodali Murali Mohan. The ld. AR at the time of hearing submitted that the creditor was having an agricultural income as well as salary income of ₹ 24,800/- p.m. and the creditor is having agricultural income of ₹ 2.50 lakhs p.a. It was further stated that savings were kept with her mother Smt. K.Girija Kumari w/o late K. Rama Mohana Rao and out of the above agricultural income and savings, he has given gift of ₹ 5.00 lakhs to his brother on 15/02/2015. Sinc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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