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TMI Blog2021 (4) TMI 1162X X X X Extracts X X X X X X X X Extracts X X X X ..... a is to be examined and considered on its own legs. It is to be noted that the assessee has not filed the confirmation of Mr Mohd Abdul Samad, but the cheques are undisputedly issued in the name of Mr.Abdul Samad. In the earlier A.Y, the assessee has explained the sources for the advances given for purchase of the property and the said assessment was reopened and the sources were accepted by the Assessing Officer. Therefore, the transaction of giving advance by the assessee is proved. What is left to be proved is that the said amount has been returned by Smt. G. Surekha. All the cash deposits to the extent of ₹ 14.00 lakhs are allegedly made by Smt. G. Surekha. When the Assessing Officer for the A.Y 2008-09 has accepted that the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... initiated remand proceedings vide letter dated 14-10-2019 addressed to the assessee and collected information. 4. The learned CIT(A) failed to appreciate that the AO in the earlier assessment which is re-opened ujs.148 has accepted the advances after verifying the sources and when advances is received back no more evidence than confirmation from the recipient of advance is enough to prove the credit and thereby erred in confirming the action of the AO in making addition of ₹ 16,30,259. 5. The learned CIT(A) erred in confirming the finding of the AO about claim of deduction u/s.80GG of an amount of ₹ 24,000 without waiting for remand report. (Tax effect - ₹ 5,11,166) For these and other grounds that may be u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccounts with the same Branch viz. one Savings Bank A/C in his name and one current A/C in the name of his proprietary concern Sri Lakshmi Motors. The assessee was therefore, asked to explain the cash deposits into these A/Cs along with necessary and sufficient evidence. In response, the assessee submitted 2 cash books i.e. on in the name of proprietary concern explaining the cash deposits in his current A/C and another in his individual name. On verification of the said cash books, the Assessing Officer found that the sources for the cash deposits in his current A/C are shown to be mainly from his business receipts, whereas the sources for the cash deposits in his Savings Bank A/c is shown to be an opening balance of ₹ 4,19,302/-, wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... brought it to tax. Aggrieved, the assessee preferred an appeal before the CIT (A) who granted partial relief to the assessee by holding that the closing cash balance of the earlier year cannot be tinkered with by the Assessing Officer and that the closing balance of ₹ 4,19,302/- should be accepted as opening balance of this financial year. Thus, he granted relief of ₹ 3,25,302/- 5. As regards the cash receipts of ₹ 31,86,300/- from Smt. G. Surekha, the CIT (A) held that the assessee has failed to prove that there was any agreement of sale with Smt. G. Surekha and that she repaid the amount to the assessee. 6. As regards the cash withdrawals from the Bank not being treated as sources for cash deposits, the CIT ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r husband Shri G. Ratna Rao appeared and submitted the explanation. Therefore, the identity of Smt. G. Surekha is established. As far as the explanation given that the cheques were given in the name of her husband s friend Mr.Mohd Abdul Samad is concerned, I find that it is supported by the Bank statement. It is also established that Smt.G.Surekha is not in any way related to the assessee. Therefore, the confirmation given by Smt. Surekha is to be examined and considered on its own legs. It is to be noted that the assessee has not filed the confirmation of Mr Mohd Abdul Samad, but the cheques are undisputedly issued in the name of Mr.Abdul Samad. In the earlier A.Y, the assessee has explained the sources for the advances given for purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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