9911796707
TMI Blog2021 (3) TMI 987X X X X Extracts X X X X X X X X Extracts X X X X ..... Ground No. 1 of the appeal is allowed for statistical purposes. - I.T.A. No. 2493/AHD/2015 - - - Dated:- 8-3-2021 - Pawan Singh, Member (J) And Dr. Arjun Lal Saini, Member (A) For the Appellant : Tarun Ghia, AR For the Respondents : Anupama Singla, Sr. DR ORDER Pawan Singh, Member (J) 1. This appeal by Assessee is directed against the order of ld. Commissioner of Income Tax (Appeals)-Valsad, Valsad dated 01.06.2015 for assessment year (AY) 2011-12. The assessee has raised following grounds of appeal: 1. On facts and circumstances of the case and in law, Ld. Assessing Officer has erred in considering cash deposits as unexplained investments u/s. 69. Ld. CIT (Appeals) has also erred in confirming the same. 2. On facts and circumstances of the case and in law, Ld. Assessing Officer has erred in adding ₹ 592/- of bank interest under the head income from other sources, Ld. CIT (Appeals) has also erred in confirming the same. 3. Appellant craves leave to amend, alter or delete any of the above grounds of appeal. 2. Brief facts of the case are that the assessee is an individual and salaried person, filed her Return of Income for the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eacher for last 30 years and were able to bear the cost of foreign education of their son. The assessee further stated that the amount deposited in the account is not a individual account, but a joint account. The income received/earned by her husband was also deposited in the same account. The assessee also stated that she is residing in area of Kukery in a very interior area where total population was less than five thousand. In initial years, there was no facility of banking. Thus, they were keeping the savings in the form of cash only so; earlier savings from the saving income as well as agricultural income were in the form of cash and were deposited to meet the requirements of education on their son. The assessee explained that provision of section 69A is not applicable. Entire amount is recorded in the books. Section 69A deals with unexplained money of which assessee is found to be the owner. The explanation/reply furnished by assessee was not accepted by the Assessing Officer. The Assessing Officer in para 4.2 of the assessment order recorded that in order to verify the genuineness of agricultural produce, the enquiries were caused. And on verification, it was found that agr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome of ₹ 3,45,750/- and also granted further credit of ₹ 2,00,000/- and thereby remaining amount of ₹ 34,01,300/- and interest income not shown in the computation of income was headed under the income from other source. 4. Aggrieved by the additions in the assessment, the assessee filed appeal before the ld. CIT(A). Before the ld. CIT(A), the assessee also tried to explain that son of the assessee sent abroad for studies. For his travel and study expenses, cash was deposited in the bank; the bank account was in the name of assessee and her husband. Major part of the cash was generated out of the agricultural income of the husband and the same cash relates to accommodate savings. The assessee is a teacher; the husband of the assessee is also having agricultural income. The agricultural income is assessed under section 143(3) of the Act. The Assessing Officer wrongly treated the credit in the bank account in first name of bank account which is of assessee and treated it her cash and asked to prove the source. The assessee produced agricultural bill which were in the name of husband to support the cash. The Assessing Officer on the basis of third party statement t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. The assessee was not able to explain with the evidence that past saving as well as saving accruing from agricultural income was the deposit into the bank account or the evidence of the agricultural income allowing cash at home as the assessee was maintaining banking accounts where salary was deposited. The ld. CIT(A) concluded that he is convinced that assessee is not been able to prove the source of cash and upheld the action of assessing officer. On the issue of interest income the Ld. CIT(A) upheld the action of assessing officer by taking view that no submission is made by the assessee on this ground. Aggrieved further, the assessee was filed present appeal before this Tribunal. 6. We have heard the submission of learned Authorised Representative (AR) of the assessee and the learned Departmental Representative (DR) for the Revenue and gone through the orders of authorities below carefully. We have also gone through the following documentary evidences filed by the assessee. Copy of documents with regard to immigration of son of assessee, Copy of bills of agriculture produce consisting receipt of Shahkari Khand Udyog Mandal Ltd., Jain Trading Company, Royal Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jected the explanation about the agriculture income. There was no doubt on the agricultural income of the assessee's husband which was accepted by the Revenue from last so many years. Out of the total deposit the assessing officer considered the income of assessee's husband of ₹ 3,47,750/- and further ₹ 2,00,000/- as a past saving. The learned AR for the assessee further submits that the assessee and her husband were having no other liability except to meet out the expenses of education for her two sons. The assessee furnished cash flow statement for F.Y. 2010-11 and details of all bank accounts. The income tax return of assessee from A.Y. 2006-07 to A.Y. 2011-12 along with the Return of Income of her husband along with computation of income for A.Y. 2008-06 to 2011-12 was also furnished. The ld. CIT(A) has not given any independent finding and concurred with action of the assessing officer. 9. In support of his submission the Authorised Representative relied upon the decision of Hon'ble Calcutta High Court in Durga Kamal Rice Mills Vs. CIT 265 ITR 25 (Cal). The ld. AR for the assessee prayed for deleting entire addition. 10. In the alternative submiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alary income of assessee's husband is not disputed by the Revenue. Admittedly, the bank account No. 597 in Bank of Baroda, wherein the impugned cash deposit is in dispute is joint account of assessee and her husband. The Lower Authorities has not made any investigation whether her husband is maintaining any other or separate bank account. The cash flow statement was not examined by the lower authorities. The assessing officer during the assessment made enquiries under section 133(6) of the Act, and certain replies were received in response thereto. Admittedly the copies of reply were not provided to the assessee. The assessee has placed on record the details of income of assessee from A.Y. 2005-06 to A.Y. 2010-11 as well as her husband from A.Y. 2005-06 to A.Y. 2010-11, showing the house hold withdrawal [page 22-23 of the paper book]. No finding was given on such documentary evidence. No adverse evidence was acquired by the Assessing Officer except assuming and presuming the deposit in the bank account has unexplained cash credit. The assessee has admitted the ownership of the credit and that outgoes have gone to her son for his study in Australia. The lower authorities were of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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