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TMI Blog2021 (2) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... addition of Rs. 56,90,039 /- towards unexplained bank credit entries not explained before, AO, while admitting addition evidence in the form of confirmations, in violation of provisions of Rule - 46A(3) of Income Tax Rules, 1962. 3. In the facts and circumstances of the case, Learned CIT(A) has erred in law and on facts in deleting the addition of Rs. 56,90,039 /- towards unexplained bank credit entries without examining the chargeability of the source of such entries to Income Tax and without giving opportunity to AO to examine the same. 4. In the facts and circumstances of the case, Learned CIT(A) has erred in law and on facts in deleting the addition of Rs. 1,92,00,000 /- on protective basis, towards undisclosed income on sale of fl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vil nature for different parties, the addition of Rs. 56,90,039 /-(Rs. 76,90,039 /- - Rs. 20,00,000 /-) was made to the income of the assessee as unexplained income. 4. Aggrieved the assessee filed appeal before the ld. CIT (A). 5. The ld. CIT (A) deleted the addition on the grounds that the entries have been duly explained. 6. Aggrieved with the order of the ld. CIT (A), the revenue filed appeal before us. 7. Heard the arguments of both the parties and perused the material available on record. 8. We have perused the documents and the explanation, the details of the bank entries are as under: S. No. Date Particulars Ch. No. Receipts Amount 1 01.04.2005 Tushar Malik Rs. 98 /- 2 07.04.2005 Director Remuneration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Ltd. 228417 Rs. 8,00, 000 / - 27 10.11.2005 GTM Builders & Promoters Pvt. Ltd. 228424 Rs. 34,650 /- 28 07.12.2005 Tushar Malik 228487 Rs. 50,167 /- 29 31.12.2005 Tushar Malik Rs. 188 /- 30 05.01.2006 GTM Builders & Promoters Pvt. Ltd. 228574 Rs. 2,00, 000 /- 31 12.01.2006 GTM Builders & Promoters Pvt. Ltd. 228588 Rs. 43,330 /- 32 14.02.2006 GTM Builders & Promoters Pvt. Ltd. 240335 Rs. 33,330 /- 33 15.02.2006 Tushar Malik 240357 Rs. 36,152 /- 34 28.02.2006 GTM Builders & Promoters Pvt. Ltd. 240388 Rs. 33,330 /- 35 06.03.2006 Cash deposited Rs. 100 /- 36 13.03.2006 Tushar Malik 240230 Rs. 10,735 /- 37 23.03.2006 Tushar Malik 240256 Rs. 37,839 / 38 27.03.2006 Other I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TM Builders & Promoters 6,00,000 03.11.2005 751416 Gautam Kumar 8,00,000 05.11.2005 228417 GTM Builders & Promoters 8,00,000 05.01.2006 228574 GTM Builders & Promoters 2,00.000 55,00,000 11. The rest of the credits are small receipts from GTM Builders & Promoters and Rs. 2,25,100/- representing other income. Confirmation in respect of GTM Builders & Promoters, Ansal Properties, The Seth Vihar CGHS Ltd. Gautam Kumar were filed. 12. Having examined the observations of the Assessing Officer and the submissions made by the assessee, the total credit entries after taking out the cheques reversed works out to Rs. 63,84,539 /- as under: S. No. Date Particulars Ch. No. Receipts A mount 1 01.04.2005 Tushar Malik Rs. 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 05.11.2005 GTM Builders & Promoters Pvt. Ltd. 228417 Rs. 8,00, 000 /- 27 10.11.2005 GTM Builders & Promoters Pvt. Ltd. 228424 Rs. 34,650 /- 28 07.. Tushar Malik 228487 Rs. 50,167 /- 29 31.12.2005 Tushar Malik i Rs. 188 /- 30 05.01.2006 GTM Builders & Promoters Pvt. Ltd. 228574 Rs. 2,00, 000 / - 31 12.01.2006 GTM Builders & Promoters Pvt. Ltd. 228588 Rs. 43,330 /- 32 14.02.2006 GTM Builders & Promoters Pvt. Ltd. 240335 Rs. 33,330 / - 33 15.02.2006 Tushar Malik 240357 Rs. 36,152 /- 34 28.02.2006 GTM Builders & Promoters Pvt. Ltd. 240388 Rs. 33,330 / - 35 06.03.2006 Cash deposited Rs. 100 /- 36 13.03.2006 Tushar Malik 240230 Rs. 10,735 /- 37 23.03.2006 Tushar Malik 240256 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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