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TMI Blog2022 (2) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... tained. The entries in Cash Book prepared and submitted by the assessee were found by the AO to be incorrect for the detailed reasons given in the assessment order. AR could not improve the case of assessee before the Tribunal and candidly accepted that there was no further evidence. Under these circumstances, addition has been rightly sustained in the first appeal. Addition of unexplained cre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce President For the Assessee : Shri Pramod Shingte For the Revenue : Shri M.G. Jasnani ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the order dated 03-09-2019 passed by the CIT(A)-2, Kolhapur, in relation to the assessment year 2011-12. 2. The first ground raised in this appeal is against the confirmation of addition of ₹ 8,50,000 rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore making the Demand Draft, the assessee made several cash deposits as well as transfers through cheques, the details of which have been given in para 3.6 of the assessment order. Such amount of deposits totaled upto ₹ 44,31,076. The assessee contended that one of the cash deposits, viz., of ₹ 8,50,000 was out of `Business receipts . In support of such a claim, the assessee filed ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loan of ₹ 19 lakhs purportedly taken from his wife, Mrs. Shubhangi Kiran Patil, despite repeated opportunities given to explain the sources of her income. Eventually, the AO made the addition, which came to be countenanced in the first appeal. 6. Having heard the rival submissions in Virtual Court and gone through the relevant material on record, it is seen that the assessee recorded cre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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