9911796707
TMI Blog2018 (10) TMI 1716X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee partly. - ITA No. 860/Ahd/2015 - - - Dated:- 15-10-2018 - Shri Pramod Kumar, Accountant Member For The Appellant : Mr Ketan H Shah For The Respondent : Ms Sonia Kumar ORDER 1. By way of this appeal, the assessee appellant has challenged correctness of order dated 22nd January 2015 passed by the CIT(A) in the matter of assessment under Section 144 r.w.s. 147 of the Income-tax Act, 1961, for the assessment year 2006-07. 2. Grievances raised by the appellant are as follows:- 1. The Learned Commissioner of Income Tax (Appeals) erred in upholding the addition made by the Learned Assessing Officer of ₹ 18,26,730/- as unexplained cash credit. 2. The Learned Commissioner of Income Tax (Appeals) ought to have appreciated the facts and circumstances of the case and deleted the addition made by Learned Assessing Officer as it involved (i) income from agricultural produces which cannot be denied when all the members in the family are agriculturists and hold land with them (ii) gift from relative who had income from agriculture and (iii) loan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and rejoinder filed by the appellant. After carefully considering the written submission, remand report and rejoinder as is reproduced in the paras above, the issues in hand are discussed and decided in the following paragraphs: The AO's contention in the remand report can be summarized as under: Numerous opportunity was granted to the appellant both during the assessment proceedings and also during the remand proceedings. But, no details were produced before him. In response to the summons issued u/s 131 of the Act to Shri Vinaykumar Kantilal Choksi, nobody attended the office of the AO nor filed any details. As such the transactions of the agricultural sale of the assesses have been not verified from the books of account of Shri Vinaykumar Kantilal Chokshi. Also no details called for like copy of PAN, details of business activity and source of income during the FY 2004-05 to 2007-08.; Copy of return of income and statement of total income for A.Y. 2005-06 to 2007-08 and Copy of all bank statements for A.Y. 2006-07. Appellant did not submit the Income Expenditure statement of agricultural income. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l had appeared before the AO in response to the summons and in his statement was recorded he had confirmed the transactions. It is not mandatory to execute a gift deed and especially when both the parties are closely related as father and son. No contrary material brought on record by the AO. appellant had discharged burden by producing evidence such as confirmation letter, Identity proof etc. and AO has made no attempt to disprove the same. No adverse inference should have been drawn by the AO. After carefully considering all the facts as above, so far as agricultural income is concerned, no evidences whatsoever have been produced by the appellant either during the assessment proceedings or remand proceedings before the AO. Neither has such details been produced before the undersigned during the appellate proceedings, Moreover, it is perused that appellant's family members are agriculturists and has landholding of not more than 20 bighas in which the total agricultural income is shown of ₹ 14,87,543/- in his individual capacity and from the same agricultural land, appellant's wife has claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion that can be drawn in this regard is that the so called agricultural bills obtained by the appellant are bogus and as such no agricultural produce was cultivated in the small piece of land is claimed totaling to ₹ 19,37,543/- during the year under appeal. It is also to be noted that appellant is working in a small firm viz. Vinaykumar Kantilal Choksi as an accountant and he is well aware of the legal seriousness of the proceedings before the AO and even he has not advised his employer to attend before the AO. Therefore, the contention made by the appellant cannot be accepted and is hereby confirmed. With regard to the claim of Gift received by the appellant from his son of ₹ 4,00,000/-, as is discussed in above paragraphs, this is unaccounted cash of the appellant which is stated to be gift of ₹ 4,40,000/- from Shri Jayesh Patel who has claimed in the statement recorded that he has given this gift which is earned from agricultural income. As is discussed herein above paragraphs, there is less than 20 bigha of land and donor is claiming it to, be gift. Apart from the findings given by the AO that appellant is not assessed to tax, not filed ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ven in cash and all below ₹ 20,000/- to nullify the provisions of section 40A(3) of Income-tax. Further, the AO has reported that these persons are working as labourers in APMC and it is beyond their capacity to pay such deposits who is employed as an accountant in the firm Vinaykumar Kantilal Choksi. Thus, in view of the above findings, appellant has failed to substantiate with evidences the source of introduction of cash in the bank account by way of claiming agricultural income, gifts and borrowings from friends and relatives . It is very important to mention here that appellant has not submitted before me any new evidences other than what was produced before the AO, which has been verified by him before arriving at the conclusion as has been reported in the remand report. In view of the above, the action of the AO in making addition of ₹ 18,26,730/- is held justified and is hereby confirmed. The relevant ground of appeal is rejected. 6. The assessee is not satisfied and is in further appeal before me. 7. I have heard the rival contentions, perused the material on record and duly considered facts of the case in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
