9911796707
TMI Blog2013 (6) TMI 890X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 147 and for the assessment year 2004-05 u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') vide his orders dated 31.12.2007 and 29.12.2006. First we take the assessee's appeal No. 1462/Kol/2010 A.Y 2003-04. 2. 1st & 2nd inter-connected issue in this assessee's appeal, are against the order of the CIT(A) confirming the addition of, advances received against the sale of flats amounting to ₹ 1,80,000/- as un-explained cash credit and thereby also confirming cash receipts of ₹ 1,00,000/- from three unidentified persons, ₹ 70,000/- and ₹ 10,000/- from Sri Saradindu Sarkar and Sri Sujoy Ghatak as unexplained cash credit. For this the assessee has raised the following grounds:- "1. That t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee could not reconcile the difference and could not file the details. Hence, we have no other alternative except to confirm the order of CIT(A). Even otherwise, the addition restricted by CIT(A) is only ₹ 1.80 lakh and not again the addition of ₹ 1.80 lakh as claimed by assessee in its ground of appeal. These issues of assessee's appeal are decided as indicated above. 5. Third issue in this assessee's appeal is against the order of CIT(A) in confirming the addition of ₹ 1,85,500/- made by the AO in treating the advances received from Smt. Rekha Guha as unexplained cash credit u/s. 68 of the Act. For this, the assessee has raised following ground:- "3. That the ld. CIT(A) in treating the advance of ₹ 1,8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed because the revenue has not brought on record that these are unexplained for the reason that the assessee has deposited his own money from the bank account of Smt. Rekha Guha. Hence, we delete this addition. ITA No.1463/Kol/2010 A.Y 2004-05 (by the assessee) 8. The first issue in this appeal of assessee is against the order of CIT(A) in confirming the addition of gift received of ₹ 3,00,000/- from 6 persons. For this, the assessee has raised the following ground:- 1. The CIT(A) erred in treating the gift of ₹ 3,00,000/- received from 6 persons assessment undisclosed income of the appellant without giving any cognizance to the gift confirmations and the income tax records of the donees filed at the assessment stage. " 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee before the CIT(A) has filed complete details i.e. identity, creditworthiness of the donors and genuineness of the transaction, apart from filing of details of income-tax documents of the donors. In such circumstances, we are of the view that the Hon'ble Calcutta High Court in the case of CIT Vs. M/s. Dataware Private Limited, ITAT No.263 of 2011, GA No.2856 of 2011 dated 21.09.2011, wherein Hon'ble High Court has observed as under: "In our opinion, in such circumstances, the Assessing officer of the assessee cannot take the burden of assessing the profit and loss account of the creditor when admittedly the creditor himself is an income tax assessee. After getting the PAN number and getting the information that the creditor is asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following ground:- 2. That the Ld. CIT(A) has erred in treating the loan of ₹ 3,00,000/- received from Putul Bose as undisclosed income of the appellant without giving cognizance to the fact that the income tax records of the loan creditor and the loan creditor is the wife of the appellant. 12. We have heard the rival contentions and gone through the facts and circumstances of the case. We find that the AO during the course of assessment proceedings noted that the loan creditor was wife of the assessee. The assessee has also filed the copies of Income-tax return, income statement, capital account and balance sheet of Smt. Putul Bose for the assessment year 2004-05. The AO has recorded that the assessee maintained only one bank acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Even now before us the assessee could not produce the bank statement of the loan creditor that this amount was made by cheque or amount was deposited in bank where cash withdrawal was made. In such circumstances, we agree with the finding of CIT(A) in treating the loan amount of ₹ 3,00,000/- received by the assessee as undisclosed income. We confirm the order of CIT(A). This issue of assessee's appeal is dismissed. 14. Next issue is against the order of CIT(A) in confirming the addition of ₹ 10,00,000/- as unexplained loan taken from West Bengal State Agricultural & Rural Development Bank Ltd. For this, the assessee has raised the following ground:- "That the Ld. CIT (A) erred in taking the view that the loan of ₹ 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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