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TMI Blog2020 (7) TMI 391X X X X Extracts X X X X X X X X Extracts X X X X ..... f assessee submitted that the said advances were wrongly shown in the balance sheet of the assessee and since the same were received by the wife of the assessee and not the assessee, the concerned parties in reply to the notices issued by the AO u/s 133(6) stated that the advances in question were not paid by them to the assessee. Also there is a sufficient documentary evidence to support and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... volved therein relates to the addition of ₹ 11,00,000/- made by the AO and confirmed by the Ld. CIT(A) on account of the amounts found to be deposited in the bank account of the assessee by treating the same as unexplained. 2. The assessee in the present case is an individual who is engaged in the business of trading as a retailer. The return of income for the year under consideration was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee before the Ld. CIT(A). During the course of appellate proceedings before the Ld. CIT(A), it was reiterated by the assessee that the advances in question amounting to ₹ 7,00,000/- and ₹ 4,00,000/- were received by him from the concerned two parties in cash against sale of property. From the perusal of the relevant agreements for sale, the Ld. CIT(A) however found that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amounts so received were deposited in the joint bank account of the assessee and his wife. She has submitted that the said advances were wrongly shown in the balance sheet of the assessee and since the same were received by the wife of the assessee and not the assessee, the concerned parties in reply to the notices issued by the AO u/s 133(6) stated that the advances in question were not paid b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e relevant record. 5. Before parting, it is noted that the order is being pronounced after ninety (90) days of hearing. However, taking note of the extraordinary situation in the light of the COVID-19 pandemic and lockdown, the period of lockdown days need to be excluded. For coming to such a conclusion, I rely upon the decision of the Coordinate Bench of the Mumbai Tribunal in the case of DCIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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