9911796707
TMI Blog2022 (5) TMI 823X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the evidences filed by the assessee and decide the issue afresh. Thus, Ground No. 2 raised by the assessee is allowed for statistical purposes. Addition on account of alleged saving bank interest - HELD THAT:- As perused the material available on record and gone through the orders of the authorities below. Ld. Counsel for the assessee could not controvert the findings of the AO that the interest income was not disclosed in the return of income. Therefore, we do not see any reason to interfere in the finding of the authorities below, the same is hereby rejected. Agricultural income - The contention of the assessee is that the income was wrongly disclosed in the return of income of the assessee as his income however, belonged t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e hands of appellant, doesn't belongs to him. In fact agricultural income belongs to HUF. 5. That the appellant craves leave to add, alter or withdraw any of the ground of appeal at the time of hearing. FACTS OF THE CASE 2. Facts giving rise to the present appeal are that in this case, the assessee filed return of income on 14.07.2011 declaring income of Rs. 1,12,290/- under the head Salary and Rs. 5,17,560/- from agriculture income. The case of the assessee was selected for scrutiny assessment and the assessment was framed u/s. 143(3) of the Income Tax Act, 1961 ( the Act ) on 08.01.2014. Thereby, the Assessing Officer ( AO ) made addition of Rs. 18,00,000/- on account of cash deposit in the bank accounts of the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for not attending the proceedings within time prescribed. Therefore, I condone the delay and admit the appeal for adjudication. 7. Ground No. 1 of the assessee's appeal is general in nature, needs no separate adjudication. 8. Ground No. 2 is against the confirming of addition of Rs. 18,00,000/-. 9. Ld. Counsel for the assessee, Shri Naveen Gupta submitted that the impugned addition is arbitrary and unjustified on account of the fact that the authorities below failed to take note of the fact that there were deposits and withdrawals in the bank accounts of the assessee. It was further stated that the explanation regarding deposit of cash out of withdrawals was not considered by the authorities below. He submitted that before Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eged saving bank interest. 13. Ld. Counsel for the assessee submitted that authorities below were not justified in making the addition regarding bank interest. 14. On the contrary, Ld. Sr. DR opposed these submissions and submitted that the assessee had not disclosed this income. Therefore, the authorities below were justified in sustain the addition. 15. I have heard the contentions of the rival parties and perused the material available on record and gone through the orders of the authorities below. Ld. Counsel for the assessee could not controvert the findings of the AO that the interest income was not disclosed in the return of income. Therefore, I do not see any reason to interfere in the finding of the authorities below, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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