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TMI Blog2020 (12) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... year's(ay's)2006-07 and 2008-09 respectively, the appellate proceedings had arisen before learned CIT(A) from two separate assessment order(s) both dated 29.03.2013 passed by learned Assessing Officer (hereinafter called "the AO") u/s. 143(3) read with Section 153C read with Section 153A of the Income-tax Act, 1961 (hereinafter called "the Act") for ay's: 2006-07 & 2008-09 respectively. We have heard both the parties through video conferencing mode through virtual court. 2. The grounds of appeals raised by assessee in ITA No. 114/Alld/2017 for ay : 2006-07 in memo of appeal filed with Income-Tax Appellate Tribunal, Allahabad (hereinafter called " the tribunal") reads as under: 1. That in any view of the matter the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) of the IT Act as against the returned income of Rs. 2,33,510/- is bad both on the facts and in law. 2. That in any view of the matter the addition of Rs. 86,000/- as made by the Assessing Officer and confirmed by the Ld. CIT(A) - III, Lucknow is highly unjustified and incorrect when the alleged cash deposits in bank are from definite sources duly explained by the assessee especially when the relevant bank accounts are already disclosed and a Cash Flow has also been placed on record hence addition made and confirmed by CIT(A) is highly unjustified. 3. That in any view of the matter the findings and observations of the Ld. CIT(A) with regard to addition of Rs. 86,000/- is totally incorrect and contrary to facts of the case. 4. That ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... personal books or cash flow statement in respect of deposit amounting to Rs. 2,32,100/- in ay: 2006-07 (Rs. 86,000/- in ay: 2008-09) which led to additions in the hands of the assessee. The assessee had submitted before the AO that the money has been routed in the bank accounts by withdrawal from the other bank accounts. However no evidence to that effect was submitted by assessee before the AO to substantiate its stand, which led to the additions being made by the AO to the income of the assessee to that effect to the tune of Rs. 2,32,100/- in ay: 2006-07 (Rs. 86,000/- in ay: 2008-09), vide separate assessments for both the ay's viz. ay: 2006-07 and 2008-09. 5. The assessee being aggrieved by aforesaid additions so made by AO filed fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT-DR, on the other hand, vehemently opposed the contentions of the assessee and submitted that addition be confirmed and that a search and seizure operation u/s. 132 of the Act was carried out by Revenue against Vaish Group of Concerns, and incriminating material against the assessee was found during the course of search which led to invocation of section 153C of the Act. Thus, the learned CIT-DR justified the invocation of Section 153C of the 1961 Act against the assessee. It was submitted by learned CIT-DR that what is important for invoking Section 153C is the incriminating material belonging to tax-payer being found during the search against some other person and satisfaction of the AO that incriminating material pertaining to the ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the amounts had been deposited in cash in the bank accounts maintained with the Punjab National Bank out of cash withdrawals from other bank accounts. However, before the ld. CIT(A), the assessee has claimed that there was an opening cash balance of Rs. 405800/- as at 01.04.2005 which is primarily used for deposit of cash in bank accounts in previous year 2005-06. We also note that the ld. counsel for the assessee has submitted before us that the said opening cash balance of Rs. 4,05,800/- as at 01.04.2005 was the closing cash balance of the earlier year as at 31.03.2005 and the cash flow of the earlier year has been accepted by the Revenue, but the said facts are not emanating from the record before us. It is also not clear that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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