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TMI Blog2024 (7) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act. As to the reply of Shri Rahish Pal Singh in response to the summon issued u/s 131(1A), the stand of the assessee has been that it is factually correct that the assessee had no business transactions with Shri Rahish Pal Singh during the year. However, cash given on 31.12.2019 to Mr. Deepak to purchase quality breed of cows for the firm was received back by the assessee on 05.01.2020 through Mr. Rahish Pal Singh who is relative (spouse of sister in law) of the assessee. Mr. Deepak had handed over the amount to Mr. Rahish Pal Singh in his daily meeting in regular course of business to return the same to the assessee on his behalf. The explanation furnished by the assessee has been considered by the Ld. AO as afterthought without bringi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , CA Ms. Neetu Jain, CA Ms. Mitika Choudhary, Advocate For the Department : Shri T. James Singson, CIT-DR ORDER PER ASTHA CHANDRA, JM The appeal filed by the assessee is directed against the order dated 27.02.2023 of the Ld. Commissioner of Income Tax (Appeals), Kanpur-4 ( CIT(A) ) pertaining to Assessment year ( AY ) 2020-21. 2. The assessee has raised the following grounds:- 1. That Ld. CIT(A) erred in facts and in law, in sustaining addition of Rs. 30,00,000/-in order passed under section 250 of the Income Tax Act, 1961 as against the addition of Rs. 37,00,000/- made by the Learned Assessing Officer vide assessment order dated 29.05.2022. The order suffers from perversity as the order has been framed completely ignoring the material on r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion as per law and the order passed by the Ld. CIT(A) is illegal, void-ab- initio and barred by limitation and is contrary to the principles of natural justice and has been passed by recording incorrect facts and findings and without giving an adequate opportunity to the assessee and the same is not sustainable on various legal and factual grounds. 5. That having regard to the facts and circumstances of the case, LD. CIT(A) has erred in passing order u/s 250 of the Income tax Act, 1961 without disposing off the objections filed by the appellant and as such consequent addition made to the declared income is not sustainable and liable to be deleted. 6. The appellants crave leave to add to, alter or amend the afore stated grounds or appeal. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mes nor source thereof is given. The Ld. AO stated that during the post search investigation summon under section 131(1A) of the Act was issued to provide details of transactions with the assessee which was replied to saying that he has not entered into any transaction with the assessee in his personal capacity either in cash or the banking mode. Based on this, the Ld. AO concluded that the explanation given by the assessee is not corroborated independently. Since source of cash remained unexplained, he added Rs. 30 lakhs to the income of the assessee under section 69C and completed the assessment accordingly on 29.05.2022 under section 153A r.w.s. 143(3) of the Act. 7. Aggrieved, the assessee filed appeal before the Ld. CIT(A). It was subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... book. However no independent evidences have been submitted to support such claims. There is no seized material from which this submission may be cross verified. Further in the assessment order it has been stated by Ld. AO that Sh. Rahish Pal Singh vide reply dt. 09.02.2021 clearly denied entering into any sort of transaction with the appellant, thus the version of the appellant furnished during assessment proceedings that final time the cash amount was given and received back through Sh. Rahish Pal Singh has been proved completely false. In the appellate proceedings the appellant submitted that source of cash amount of Rs. 10,00,000/- was from Smt. Preeti Singh, who is wife of the appellant, however no documentary evidences of the same cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his wife are partners in Daurau Farms LLP engaged in the main business activity of sale of farm fresh milk of cows. The contention of the assessee all along has been that the above transactions of Rs. 10 lakhs each has been entered into through Mr. Deepak for the purchase of cows for Daura Farms LLP and that Mr. Deepak has been providing knowledge/assistance to the assessee as partner of the firm as deposed by him in statement recorded under section 132(4) of the Act. As to the reply of Shri Rahish Pal Singh in response to the summon issued under section 131(1A), the stand of the assessee has been that it is factually correct that the assessee had no business transactions with Shri Rahish Pal Singh during the year. However, cash given on 31 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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