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TMI Blog2022 (12) TMI 222X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the genuineness of the Members by filing confirmations before the Ld. CIT(A). Once the assessee furnishes sufficient documents and explanations, it is on the onus of Department to verify the same and act accordingly. Authorities below can summon the Members if they are not appeared on the request of assessee society, but, the authorities below cannot demand the assessee society to prove the source of the source which is one of the conditions stipulated under section 68 itself. There are plethora of judicial decisions on this issue. We, therefore, set aside the orders of the authorities below and delete the addition made by the A.O. and confirmed by the Ld. CIT(A). Appeal of assessee are allowed. - ITA. No. 1669/Del./2020 - - - Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from undisclosed sources under the Head Income from other Sources and completed the assessment proceedings under section 144 r.w.s. 147 of the I.T. Act, 1961. The A.O. also initiated penalty proceedings under section 271(1)(c) of the I.T. Act separately. 2.1. Aggrieved by the ex-parte order of A.O, the assessee carried the matter in appeal before the Ld. CIT(A) who vide order dated 12.03.2020 passed under section 144 of the I.T. Act, 1961, confirmed the addition made by the A.O. 3. Aggrieved by the order of the Ld. CIT(A), the assessee is now in appeal before us and has raised the following grounds : 1. That the order of the CIT(A) is bad in law and preserve as the same has been passed .without considering the submission of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitation in all proceedings before Courts/Tribunals w.e.f. 15.03.2020 and the said order was extended to 14.03.2021 vide order dated 08.03.2021. In view of the above facts, he prayed the Tribunal for condonation of delay in filing the appeal before the Tribunal. 6. The Ld. D.R. on the other hand did not strongly object for condonation of delay. 7. We have heard the Learned Representatives of both the parties and perused the material on record. We find that the Hon ble Supreme Court has extended the period of limitation in all proceedings before Courts/ Tribunals due to outbreak of Covid-19 pandemic vide order dated 15.03.2020 (supra). In view of the above orders of the Hon ble Supreme Court, the appeal of the assessee society is not t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the construction of the flats for its Members. The assessee society had deposited the said sum of Rs.11,50,000/- in the bank account of assessee society. The assessee society had also filed audited balance-sheet during the assessment year under consideration before the authorities below, proof of identity of 03 members of the society from whom the impugned cash was received in form of providing copy of share certificate, certificate of allotment of flat and or copy of sale deed and confirmation from one of the Member and one member has moved out of the assessee society and the other one is a very senior citizen who is not able to listen/support to the assessee society on this issue. He submitted that the assessee society was using the enti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... firmed by the Ld. CIT(A) be confirmed. 12. We have heard the Learned Representatives of both the parties and perused the material on record. We find that the authorities below made the addition in the hands of assessee society to the tune of Rs.11,50,000/- under section 68 of the I.T. Act, 1961. The case law relied upon by the Learned Counsel for the Assessee is distinguishable on facts. As per Section 68 of the I.T. Act, 1961 the onus lay on the assessee is to prove the genuineness and creditworthiness of the transaction. In the instant case, the assessee had deposited the cash in the Bank A/c. He filed the audited balance-sheet before the authorities below stating that the amounts received towards construction of Flats and not as incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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