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TMI Blog2022 (5) TMI 277X X X X Extracts X X X X X X X X Extracts X X X X ..... atter back to the file of ld. CIT(A) for fresh adjudication on merits of the issues concerning loans aggregating to Rs. 10 lacs raised from Mr. Jeetender Kumar (Rs. 5,00,000) and from Mr. Jehangir Alam(Rs. 5,00,000/-) respectively,in accordance with law. Needless to say that ld. CIT(A) will give proper and adequate opportunity of hearing to the assessee in set aside remand proceeding in accordance with the principle of natural justice and in accordance with law. CIT(A) is directed to pass reasoned and speaking order. - ITA No. 59/Vns/2019 - - - Dated:- 21-4-2022 - Shri.Vijay Pal Rao, Judicial Member And Shri Ramit Kochar, Accountant Member For the Appellant : Shri Subhash Chand And Shri Ashutosh Bhardwaj, Advocate(s) For the Respondent : Shri A.K. Singh, Sr. DR ORDER PER SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER: This appeal, filed by assessee, being ITA No. 59/Vns/2019, is directed against an appellate order dated 21.12.2018 in Appeal No. CIT(A)/GKP/2018-19, passed by learned Commissioner of Income Tax (Appeals), Gorakhpur (hereinafter called the CIT(A) ) partly allowing the appeal filed by the assessee, the appellate proceedings had arisen before ld. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he side of the assessee, and the matter was getting time barred on 31.12.2017, the AO completed assessment wherein additions to the income of the assessee to the tune of Rs. 51 lacs were made by the AO being unexplained investment u/s 69 of the 1961 Act, as the assessee despite being asked by the AO did not submitted sources of making investment with supporting documents, vide assessment order dated 21.12.2018 passed by the AO u/s 144/147 of the 1961 Act. Further, the AO assumed other income of the assessee to be Rs. 1,60,000/-, and accordingly total income of the assessee was assessed at Rs. 52,60,000/- by the AO. 3. Aggrieved by assessment framed by the AO, the assessee filed first appeal with ld. CIT(A), which appeal was partly allowed by ld. CIT(A) . The assessee raised first grievance with ld. CIT(A) that statutory notices issued by the AO u/s 143(2), 148 and 144 of the 1961 Act were not served upon the assessee. The ld. CIT(A) observed from the assessment order, that notice u/s 148 was issued by the AO vide registered post and the assessee has not submitted any evidences to substantiate its contentions that notices were not served upon the assessee, and hence this contenti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness and genuineness as well capacity of depositors with documentary evidences. 2. The assessee failed to submit documentary evidences to prove the deposit made by the depositors such as PAN, Bank statement, confirmation as well as proof of filing of ITR. 3. The assessee also fails to prove the source of income of the depositors. The AO further observed that the assessee purchased stamp worth Rs. 3,67,000/-, but the assessee failed to prove the source of purchase of stamp, and hence the cost of stamp purchased was also treated as unexplained by the AO, vide his remand report submitted to ld. CIT(A). The ld. CIT(A) forwarded remand report to the assessee seeking his comments. The ld. CIT(A) after considering remand report, comments received from the assessee, observed that the assessee could not explain the amount received from his brother in law, Mr. Jitender Kumar(Rs. 5,00,000/-) and his friend, Mr. Jehangir Alam (since dead)(Rs. 5,00,000/-), for which the assessee has only submitted copies of cheques issued by them and death certificate of Mr. Jehangir Alam. The ld. CIT(A) observed that cheques issued by them are not reflecting in the bank statement of the assessee. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cs each issued by these two lenders namely Mr. Jitender Kumar and Mr. Jehangir Alam respectively, in favour of the assessee, and these cheques are reflecting in the bank statement of the assessee. It was submitted that both these cheques of Rs. 5 lacs each, are dated 09.12.2009(copies placed in paper book/page 6-7), which stood credited in bank account (current account) of the assessee maintained with SBI, Khoonipur, Ismailpur, Arya Samaj Mandir, Buxipur, Bank account number 30395286235, on 14.12.2009, the bank statement of which is placed in paper book /page 2 filed by the assessee with tribunal. On being asked by the Bench, the assessee submitted that bank statement of the lenders could not be filed. It was submitted that the matter is old, it is difficult to obtain bank statements of the lender now, and department may be directed/requested to obtain the bank statements directly. The ld. Counsel for the assessee also submitted that ld. CIT(A) has also held that the assessee is not able to prove the creditworthiness of the lender and genuineness of the transaction, and hence ingredients of Section 68 of the 1961 Act are not fulfilled/complied with. The ld. Counsel for the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee, remand report, rejoinder to remand report filed by the assessee and material on record, the ld. CIT(A) sustained additions to the income of the assessee to the tune of Rs. 8,95,000/-, mainly for the reasons that the assessee could not prove the credit worthiness of the lenders and genuineness of transaction with respect to the loans raised by the assessee from his brother in law, Mr. Jitender Kumar(Rs. 5,00,000/-) and his friend, Mr. Jehangir Alam(since dead)(Rs. 5,00,000/-) . The ld. CIT(A) also observed that the assessee has claimed that these loans were raised through cheques, but the said cheques are not reflecting in the bank statement of the assessee. The ld. Counsel for the assessee has submitted before the Bench that this finding of the ld. CIT(A) that the cheques were not reflecting in the bank statement of the assessee, is erroneous. Our attentions were drawn by ld. Counsel for the assessee to the copies of cheques claimed to be received by the assessee from Mr. Jeetender Kumar (Rs. 5,00,000) and from his friend, Mr. Jehangir Alam(Rs. 5,00,000/-)and it is stated that copies of these cheques are placed in paper book/page 6-7. It is also claimed that these tw ..... X X X X Extracts X X X X X X X X Extracts X X X X
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