9911796707
TMI Blog2022 (5) TMI 219X X X X Extracts X X X X X X X X Extracts X X X X ..... ICICI Bank, Usmanpura Branch, Ahmedabad where according to the assessee, he never maintained any bank account. The ld. D.R. has not been able to point out any reason why the reply of Deputy Branch Manager of ICICI Bank was never furnished to the assessee and why no opportunity was granted to the assessee to rebut the same. Further, from the records of ICICI Bank, it is seen that cheques for substantial amount of money were issued to Mr. Bharat Shah and apparently there is no reasonable explanation why the assessee would issue this amount to Mr. Bharat Shah. Also, there seems to be no reasonable explanation why the passbook of ICICI Bank has mentioned incorrect address of assessee. Assessee s appeal is allowed for statistical purposes. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oduce additional evidence which may be taken into consideration while disposing off this appeal. 3.1 The Ld. NFAC has grievously erred in law and on facts in confirming that the alleged bank account with ICICI Bank Usmanpura Branch belong to the appellant and he had made cash deposits of Rs.16,40,500/- therein and thereby confirming the addition of Rs.16,40,500/- as his undisclosed income in spite of categorical statement in the letter dated 03.10.2018 filed with AO disowning the said bank account as well as the impugned cash deposits therein. 3.2 That in the facts and circumstances of the case as well as in law, the Ld. NFAC ought not to have upheld that the alleged bank account with 1CIC1 Bank Usmanpura Branch belong to the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which the assessee filed return declaring Nil income. During assessment the assessee stated that the bank account did not belong to him and bank account belonged to his former employer Ms. Bharat Shah who misused his PAN No. and deposited the money in the account. The office of Assessing Officer issued summons to ICICI Bank and took on record the reply of deputy branch manager of ICICI Bank, Usmanpura Branch and came to the conclusion that the amount was deposited by the assessee and added the sum of Rs. 16,40,500/- as unexplained cash deposit u/s. 68 of the Act. While passing the order, the ld. Assessing Officer observed as below:- It is verified that after issued of show cause the assessee filed a return of income on 22.09.2018 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant tried to mislead investigation by claiming that one Mr. Bharatbhai Ghanshyambhai Shah used his PAN. After considering the totality of facts, I have come to a conclusion that the AO has rightly made the addition. The grounds of appeal no. 1 is dismissed and addition of Rs. 16,40,500/- is confirmed. 5. Before us, the ld. counsel for the assessee submitted that the bank account does not belong to the assessee in the first instance. He pointed that the address mentioned in the ICICI Bank is incorrect since the assessee is residing at Maninagar, Ahmedabad. He submitted that the assessee is only maintaining bank account with Vijaya Bank, and in the passbook of Vijaya Bank, the correct address is mentioned. In support of this contenti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aterial available on record. We note that the assessee was working as staff member with Bharat Shah and is now retired. The assessee has submitted that he never held any account with ICICI Bank and even address mentioned in the passbook of ICICI Bank is incorrect. He further submitted that the said ICICI Bank is being operated by his formed employer by misusing his PAN as may be evident from the fact that Mr. Bharat Shah, his former employer withdrew substantial sums from the said bank account. The assessee has alleged that the assessment was framed on the basis of reply given by Deputy Branch Manager of ICICI Bank, Usmanpura Branch, Ahmedabad where according to the assessee, he never maintained any bank account. The ld. D.R. has not been a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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