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TMI Blog2024 (5) TMI 1357X X X X Extracts X X X X X X X X Extracts X X X X ..... n account of total cash deposits made by assessee in his bank accounts during the year under consideration and assessed income of the assessee at Rs. 27,00,000/- and in ignoring that submission of the assessee appellant. 3. That on the facts and in the circumstances of the case the ld. Lower Authority grossly erred in considering the facts that cash deposit in the bank account of the assessee appellant is belongs to his friends Shri Ravi Bansal when it was already submitted during the statement recorded u/s 131 of the Act and PAN Number of Shri Ravi Bansal was also submitted before the ld. CIT(A). That appellant craves leave to add, alter, modify or amend any ground on or before the date of hearing." 3. The fact as culled out from the records is that the case of the assessee was reopened under the provisions of section 147 of the I.T. Act based on the AIR information for the year under consideration on account of the reasons that the assessee has deposited a sum of Rs. 27,00,000/- in his bank account. As the assessee has deposited the said money and has not filed any return of income, therefore, considering that reason the case of the assessee was reopened and notice u/s 148 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ounds of appeal raised are dismissed and the addition of Rs. 27,00,000/- made by the AO is hereby confirmed. 5. In the result, the appeal is dismissed." 5. Feeling dissatisfied from the above order of the ld. CIT(A) the assessee has preferred the present appeal before the Tribunal on the grounds as stated in para 2 above. In support of the various grounds so raised by the ld. AR of the assessee reitered the submission made before the ld. CIT(A) and the same is reproduced herein below:- "The assessee appellant is an individual and engaged in the business of brokerage on the sale of the property. That during the year under consideration assessee appellant has not taxable income and no return were filed. Ground No. 1 and 2 [Opening of assessment proceeding u/s 148 and addition on account of cash deposit of Rs 27,00,000/- 1. That Id. Assessing officer grossly erred in issuing the notice u/s 148 and passing the order u/s 144/147 of the act. 2. That during the year under consideration the friend of the assessee appellant Shri Ravi Bansal, r/o 177, Janakpuri-II, Imliphatak, Jaipur (PAN AJRPB3934G) keeping the assessee appellant in dark, had deposited Rs 27,00,000/- in the bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Inder Pal Singh, Shri Ashok Kumar & Shri Ravi Bansal has made the impugned addition on the ground the assessee appellant has not submitted any evidence in support of their statement. The Id. Assessing Officer has not doubted the deposit of Rs. Rs. 5,00,000/-, Rs. 10,00,000/- & Rs. 5,00,000/- made by Shri Ravi Bansal. 8. That the assessee appellant has discharged its burden of proof at the time of recording of statement recorded u/s 131 of the Act and we humbly submit that the cash deposited in the bank account of the assessee appellant belongs to Shri Ravi Bansal who has used the said bank account keeping the assessee appellant in dark and therefore the addition made by the assessee deserves to be deleted." 5.1 The ld. AR of the assessee in support of the various contentions/averments made has relied upon the following documents:- S. No. Particulars Page No. 1. Copy of written submission filed before CIT(A) 01 to 03 2. Copy of Power of Attorney dated 08.01.2023 04 to 11 3. Copy of Bank Statement of the assessee appellant 12-13 4. Copy of statement recorded u/s 131 of the Act dated 14.12.2018 14-17 5.2 The ld. AR of the assessee in addition to the above written ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e from doubt as the assessee has only submitted power of attorney, bank statement and no further evidence has been submitted so the ld. DR supported the orders of the lower authorities. 6.1 In the rejoinder of the ld. AR of the assessee submitted that the registered power of attorney and bank statement is sufficient evidence before the Assessing Officer and the Assessing Officer should have to take over all view of the matter which he failed to do so. 7. We have heard the rival contentions, perused the material placed on record and gone through the judicial precedent cited by both the parties to drive home their respective contentions. It is not undisputed that in the bank account in addition to the deposit of cash of Rs. 27,00,000/-. Further a sum of Rs. 20,00,000/- particularly received from Ravi Bansal is apparent it is also not disputed that the assessee has submitted that these bank statement to the Assessing Officer. It is also made it clear in the statement recorded by the assessee in the assessment proceeding that he has given the name of person on whose behalf the money has been credited and he has also given the name of Ravi Bansal S/o Keddar Bansal deposited the cash i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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