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TMI Blog2023 (11) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... part relief to the assessee uphold the remaining part of addition. We are unable to see any ambiguity, perversity or any other valid reason to interfere with the findings arrived by the CIT(A) and thus, be uphold the same. Accordingly, ground of assessee are dismissed. Long term capital gain on sale of land - Addition granting major part of relief to the assessee and such amount was computed as per submissions and additional evidence filed by the assessee himself. Therefore, we are unable to see any valid reason to interfere with the findings returned by the CIT(A) on this issue. Accordingly, ground of assessee are also dismissed. Reopening of assessment - From the reasons, it is clear that the reason to believe was on the basis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h deposits are unexplained and that too by recording incorrect facts and findings and without observing the principles of natural justice. 4. That in any case and in any view of the matter, action of Ld.CIT(A) in confirming the addition of Rs. 39,76,185/- allegedly on the ground that assessee has failed to explain the cash deposit, received from his grandfather and out of cash withdrawals from the bank of assessee, is bad in law and against the facts and circumstances of the case. 5. That having regard to the facts and circumstances of the case, Ld.CIT(A) has erred in law and on facts in confirming the addition of Rs. 1,58,117/- allegedly on the ground that the assessee has earned long term capital gain on sale of land and too by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... note that the AO made addition of Rs. 43,54,000/- on account of cash deposits to the bank account of assessee. The assessee carried the matter before the Ld.CIT(A) and the part addition of Rs. 6,13,330/- was deleted extracting the disallowance of Rs. 39,76,185/- in the hands of the assessee. From the orders of the authorities below, we clearly note that the Ld. CIT(A) after considering the basis taken by the AO calling remand report on the additional evidence filed by the assessee during first appellate proceedings and rejoinder of the appellant. It was held that the appellant is not engaged in the business activity and entire credits found to the bank account of assessee remained unexplained, therefore, the Ld.CIT(A) after giving part reli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of relief. The Ld. Sr. DR submitted that the calculation approved by the Ld.CIT(A) was given by the assessee himself, therefore, no interference is called for therein. 9. On careful consideration of above submission, we note that in para 4.27 of first appellate order the Ld.CIT(A) has restricted the addition of Rs. 1,58,117/- granting major part of relief to the assessee and such amount was computed as per submissions and additional evidence filed by the assessee himself. Therefore, we are unable to see any valid reason to interfere with the findings returned by the Ld.CIT(A) on this issue. Accordingly, ground no. 5 6 of assessee are also dismissed. Ground No. 1 2 of assessee: 10. Ground no. 1 2 of assessee are as follows: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A) rightly dismissed ground no. 1 2 of assessee. 13. On careful consideration of submissions, we note that the Ld.CIT(A) in para 4.10 has reproduced the relevant part of the reasons recorded by the AO for initiation of reassessment proceedings u/s 147 of the Act. From the reasons, it is clear that the reason to believe was on the basis of information regarding certain cash transactions in the bank account of assessee and the assessee did not file any return of income and for the reason assessee did not file return of income for AY 2009-10. We are unable to see any valid reason to interfere with the findings recorded by the Ld.CIT(A) while dismissing the ground no. 1 2 of assessee and upholding the action of the AO for initiation of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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