9911796707
TMI Blog2023 (10) TMI 1226X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Ground Nos. 3, 3.1 and 4 raised by the assessee challenging the action of CIT(A) in confirming the addition made by the AO to an extent of Rs. 1,23,00,000/- in the facts and circumstances of the case. 4. Brief facts emanating from the record are that the assessee is an individual engaged in the business of real estate, ration shop, interest income, etc. A survey action u/s. 133A of the Act was conducted in the office premises of the assessee on 13-02-2013 and certain books of account were found and impounded. A sworn statement recorded by the survey team in Marathi is reproduced at page Nos. 2 to 12 of the assessment order. According to the AO, the assessee offered an additional income of Rs. 1,50,00,000/- voluntarily and paid taxes to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pages 12 to 24 of the impugned order, wherein, he examined tabular chart prepared by the assessee, questioning the addition of Rs. 3,30,19,093/-, is not maintainable. After careful examination of the said tabular chart, the CIT(A) was of the opinion that the investment in advances for properties etc. are at Rs. 2,36,08,073/- as against Rs. 3,30,19,093/- held by the AO in the assessment order. According to the CIT(A) that the source available for the assessee to make payments of Rs. 2,36,08,073/- is only Rs. 67,11,466/- and confirmed the addition to an extent of Rs. 1,68,96,607/- (Rs. 2,36,08,073/- - Rs. 1,61,22,486/-). The relevant portion at para No.5.16 of the impugned order is reproduced here-in-below: "5.16 From the balance sheets f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,50,000/- As shown in return of income. Decrease in closing bank balances appearing in the balance sheets as at 31/03/2012 and 31/02/2013 (Rs. 15,62,451 - Rs. 64,162) 14,98,289/- As per balance sheet at on 31/03/2013 and 31/03/2012 filed. Decrease in closing cash balance as per balance sheets as at 31/03/2012 and 31/03/2013 6,86,233/- As per balance sheet as on 31/03/2013 and 31/03/2012 filed. 93,70,146/- Less : Debits in capital account except loss on sale of car -26,58,680/- As per capital accounts. Total 67,11,466/- Therefore, considering the source available of Rs. 67,11,466/- for making payment of Rs. 2,36,08,073/-, the unexplained investment of the appellant works out to Rs. 1,68,96,607/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... strate, Raver. 6. The ld. DR supported the order of CIT(A) and she vehemently argued that the same issue was raised before the CIT(A) and after considering the CIT(A) held that dates and payments were specifically mentioned in the notice, dates and payments are different. She submitted that the proposed dates and figures of payments cannot be different on notice. The CIT(A) rightly disregarded the contention of assessee that notings made with pencil were rough working. Regarding the affidavit filed by the said Manas Arun Kulkarni is of no value as it could not be filed before the AO as well as before the CIT(A). She prayed to confirm the order of CIT(A). 7. Heard both the parties and perused the material available on record. The vehement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice that the dates and payments was specifically mentioned and as such on the dates and payments are different. Therefore, the statement made by the said Manas Arun Kulkarni before the AO is a mere statement without any evidence. Further, no such evidence furnished before the CIT(A). It is for the first time, the assessee filed such affidavit before this Tribunal, in our opinion, is only to protract the litigation. The assessee ought to have filed the same before the AO during the course of assessment proceedings in 2016 and as well before the CIT(A) in 2017. It is pertinent to note that the said affidavit is dated 04-05-2017 is only after 4 days of passing of impugned order. Therefore, taking into consideration the facts and circumstance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n. Further, we note that the assessee earned gross revenue of Rs. 81,26,660/-, less by 40% expenses declared net agriculture income at Rs. 49,00,000/-. Since, the AO and CIT(A) made addition in this regard on estimation basis, in our opinion, without considering the land holding and crops yielded i.e. Jowar, Cotton, Udad, Adrak, Harbhara and Banana. We note that the details filed by the assessee in written statement that the Banana crop yielded alone Rs. 75,60,000/- as gross receipt, but however, both the authorities below without considering the land holding, crops yielded, and value of crop yielded therein proceeded to make disallowance on estimation basis. Therefore, taking into consideration the facts and circumstances of the case i.e. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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