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TMI Blog2019 (8) TMI 1636X X X X Extracts X X X X X X X X Extracts X X X X ..... e owner and those lands are situated in the State of Karnataka. Under these facts, it was held by ld. CIT(A) that explanation of assessee regarding source of cash is not accepted and we find no infirmity in this finding of ld. CIT(A) Unexplained expenditure - HELD THAT:- A categorical finding is given by ld. CIT(A) that the assessee had not been able to demonstrate that these expenses stands explained and therefore, he confirmed the addition. We find no infirmity in the order of ld. CIT(A) on this issue also. Undisclosed professional receipts - HELD THAT:- The appellant has not been able to explain the same satisfactorily. The appellant claims that the sum of ₹ 4,80,000/- offered to tax as Business Income is nothing but this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 24,32,500/- on account of unexplained cash deposits. It is submitted that the Hon'ble CIT(A) has made such arbitrary addition without considering the facts and circumstances of the case. It is therefore prayed that addition of ₹ 24,32,500/- is unjustified, unwarranted and shall be deleted and necessary direction shall be given in this regard. 7,89,224/- 2. On the facts and circumstances of the case and in law, the Hon'ble CIT(A) has erred in confirming the addition of ₹ 28,71,972/- being addition of unexplained expenses without considering the facts and circumstances of the case. It is therefore prayed that addition of unexplained expenses of ₹ 28,71,972/- shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter seeking adjournment. But this letter is not signed by Shri Harish Wadhwa the appellant being the legal heir of Shri Shivkumar Thanwardas Wadhwa. But this letter is signed by somebody for Shri Harish Wadhwa. No power of attorney could be produced by the person who appeared with this letter and hence, request of adjournment was rejected and the appeal of the assessee was heard ex-parte qua the assessee. The ld. DR of revenue supported the order of ld. CIT(A). 4. We have considered the submissions of revenue. We find that ground no. 1 is regarding addition made by the AO of ₹ 24,32,500/- on account of unexplained cash deposits. The second issue raised in the appeal is regarding the addition made by the AO and confirmed by ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... State of Karnataka. The AO is directed to examine the taxability of the income alleged to be agricultural income in the hands of the firm and ensure that no income has escaped taxation. The addition of ₹ 24,32,500/- is confirmed. 9 On the issue of addition of unexplained expenses of ₹ 28,71,972/- the appellant has not been to demonstrate that the same stands explained and no addition need be made. In the absence of any cogent evidence and the fact that the appellant has only made self serving statements which only gloss over the issue without addressing the same with sincerity purpose, the addition is confirmed 10 On the issue of addition of ₹ 54,30,000/- by way of undisclosed professional receipts, the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant has been credited a total sum of ₹ 49,26,755/- by way of Receipts and also ₹ 50,99,558.53 by way cash credits through journal entries. These only go to show that the appellant has more to hide than reveal. The addition of ₹ 1,99,80,919/- is therefore confirmed. 5. We have gone through these paras reproduced from the order of ld. CIT(A). We find that regarding the first issue in respect of addition of ₹ 24,32,500/, it is held by ld. CIT(A) that this was the claim of the assessee that these are deposits made from withdrawals of a firm called Aerolax Agro which is possessing agricultural lands and earning agricultural income. The ld. CIT(A) has held that as per the judgment of Hon'ble Karnataka High C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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