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TMI Blog2023 (4) TMI 563X X X X Extracts X X X X X X X X Extracts X X X X ..... ount since the assessee has successfully demonstrated that the amount so deposited to his bank account is out of withdrawals from the bank account of his proprietorship firm and profit received in cash from the proprietorship firm. Decided in favour of assessee. Addition of gift received by assessee from his mother - Used for Tour Travelling expenses - HELD THAT:- Assessee has submitted affidavit of his mother stating the clear facts that she is holding PAN, but had not filed the return of income during the period under consideration. Counsel submitted that since her income was lesser than the taxable limit, therefore, she was not filing the return of income for relevant AY 2014- 15. In para 3 of the affidavit, As per the affidav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng challenged on facts law, for upholding the addition of Rs. 12,98,000/- on account of cash deposit in Saving Bank Account treating the same as undisclosed income. 2. Because the action is being challenged on facts law, for upholding the addition of Rs. 3,00,000/- treating gift received by assessee from his mother utilized by him for Tour Travelling expenses as undisclosed income. 3. Because the action is being challenged on facts law, for upholding the addition of Rs. 3,15,000/- treating rent received from M/s VM Rubber Industries as undisclosed income whereas per assessee TDS thereon has been wrongly deducted by the Tenant u/s 194J instead of 1941 while filing its TDS return. PRAYER For any consequential rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ental Bank of Commerce account. The ld. AR submitted that the AO has accepted the books of assessee s proprietorship firm, Lala Flour Mills, but, rejected the claim of the assessee of cash withdrawal from the said firm which is totally unjustified and unsustainable. Therefore, the addition may kindly be deleted. The ld. AR also drew our attention to page 32 of the assessee s paper book wherein the bank statement of M/s Lala Flour Mills in respect of Bank of Baroda account has been shown wherein there are deposits and withdrawals frequently. The ld. AR also drew our attention to para 3 of the first appellate order and submitted that the assessee has submitted detailed submissions before the ld.CIT(A) which were not considered properly and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d cash flow statement from 08.04.2013 to 12.02.2013 explaining the source of cash deposit to the Oriental Bank of Commerce account and the AO has not made any comment thereon. In addition to the above factual matrix, I also note that accounts of the assessee proprietorship firm M/s Lala Flour Mills are audited u/s 44AB of the Act and the assessee has filed audit report in Form No.3CB and 3CD along with audited balance sheet before the AO for verification which has never been disputed by the AO. Therefore, in view of the above, I hold that no addition is called for in the hands of the assessee on account of cash deposits to his bank account since the assessee has successfully demonstrated that the amount so deposited to his bank account is o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.3 lakh without any justified reason and basis and the mother of the assessee is an income-tax payee. It is clearly discernible from the affidavit of Smt. Angoori Devi wherein she stated that she has PAN and gifted an amount of Rs.5 lakh in cash to the assessee. Therefore, the ld. AR submitted that the addition made by the AO and confirmed by the ld.CIT(A) may kindly be deleted. 10. On careful consideration of the above rival submissions, I am of the view that the assessee has submitted affidavit of his mother stating the clear facts that she is holding PAN, but had not filed the return of income during the period under consideration. The ld. Counsel submitted that since her income was lesser than the taxable limit, therefore, she was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and had claimed deduction u/s 24 of the Act @ 30% as per the provisions of the Act which cannot be doubted merely because the tenant has deducted TDS under the wrong provision. 12. Replying to the above, the ld. DR supported the action of the AO as well as the first appellate order. 13. On careful consideration of the above rival submissions, I am of the considered opinion that the assessee is a recipient of rent from his tenant M/s V.M. Rubber Industries. From the copy of computation of income, it is clearly discernible that the assessee has shown rental income of Rs.3,15,000/- in the computation of income and has also claimed deduction u/s 24 of the Act thereon. The main allegation of the authorities below is that the deduction of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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