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TMI Blog2019 (4) TMI 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income-tax Act, 1961 (for short "the Act"). However, at the time of hearing, the learned Authorised Representative submitted that on instructions of the assessee he does not want to press this ground. Accordingly, ground no.1 is dismissed as not pressed. 3. In ground no.2, the assessee has challenged the addition of Rs. 10,16,300 under section 68 of the Act. 4. Brief facts are, the assessee is an individual. As observed by the Assessing Officer, assessee did not file its return of income. Subsequently, on the basis of information received indicating that the assessee had deposited cash of more than Rs. 10 lakh in his bank account, the Assessing Officer re-opened the assessment under section 147 of the Act. In response to the notic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings bank account. Thus, he submitted, the cash deposits made in the savings bank account are out of cash withdrawals made from the current account. In this context, he relied upon the copy of bank book and cash flow statement submitted in the paper book. 7. The learned Departmental Representative relying upon the observations of the learned Commissioner (Appeals) submitted that the assessee has failed to properly explain the source of cash deposits in the bank account. Thus, he submitted, the addition made is justified. 8. I have considered rival submissions and perused material on record. Undisputedly, in the relevant previous year the assessee has made cash deposits into his savings bank account. While explaining the source of such cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. 10. Brief facts are, in the course of assessment proceedings, the Assessing Officer noticed that as against the net receipt of Rs. 19,24,352, the assessee has debited expenditure to the tune of Rs. 17,72,186. As alleged by the Assessing Officer, when he called upon the assessee to furnish supporting evidence to justify the expenditure claimed the assessee expressed his inability to produce any evidence. Therefore, the Assessing Officer disallowed 10% out of the total expenditure claimed which worked out to Rs. 1,77,218. 11. Though, the assessee challenged the aforesaid disallowance before the learned Commissioner (Appeals), however, the addition was sustained. 12. I have considered rival submissions and perused material on record. Un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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