9911796707
TMI Blog2024 (8) TMI 738X X X X Extracts X X X X X X X X Extracts X X X X ..... categories and transfer of deposit of cash is not in line with history of transactions in the preceding assessment years. The assessee is directed to establish all relevant details to substantiate its claim in line with the above applicable instructions based on the facts in present case. We are aware of the fact that not every deposit during the demonetisation period would fall under category of unaccounted cash. However the burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. Assessee is directed to furnish PAN and address details of the depositors from whom loan repayment has been accepted in cash. AO shall verify all the details / evidences filed by the assessee b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... response to the said notices, the assessee had furnished the details like copy of cash book, statement of income, copy of 26AS, details of cash deposits and copy of death certificate with denomination in ITBA e-filing portal but failed to furnish the documentary evidence in respect of cash withdrawn from his father's account to substantiate cash deposit of Rs. 18,85,000/-. Therefore, the AO treated the cash deposit of Rs. 18,85,000/- as unexplained money u/s 69A of the Act and added to the total income of the assessee. 2.2 Aggrieved by the order of the Ld.AO, assessee preferred appeal before the Ld.CIT(A). The Ld.CIT(A) held as under: 5.2 During the appellate proceedings, the submission of the assessee in nutshell is that the cash depo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s father in the bank accounts etc. iii) The assessee has not proved that he was the sole inheritor of the estate of his father. And that there are no other legal heirs to his father's estate. iv) The assessee has not furnished the copy of the will of his father. v) The assessee has not been able to establish that its case falls under one of the clauses of Rule 46A for the purpose of admission of additional evidence. Therefore, the source of cash deposited of Rs. 18,85,000/- the bank accounts of the assessee remains unsubstantiated. In the circumstances, I do not see any reason to interfere with the well reasoned and speaking order of the AO. Therefore the additions made by the AO are confirmed. Hence, the ground of appeal is Dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, at the outset, we are of the view that the cash book and the confirmations from the depositors are to be filed by the assessee and should be verified by the Ld.AO. 6. We have carefully gone through the various standard operating procedures laid down by the central board of direct taxes issued from time to time in case of operation clean. The 1st of such instruction was issued on 21/02/2017 by instruction number 03/2017. The 2nd instruction was issued on 03/03/2017 instruction number 4/2017. The 3rd instruction was in the form of a circular dated 15/11/2017 in F.No. 225/363/2017-ITA.II and the last one dated 09/08/2019 in F. no.225/145/2019- ITA.II. These instructions gives a hint regarding what kind of investigation, enquiry, evidence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der category of unaccounted cash. However the burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. Assessee is directed to furnish PAN and address details of the depositors from whom loan repayment has been accepted in cash. 10. The Ld.AO shall verify all the details / evidences filed by the assessee based on the above direction and to consider the claim in accordance with law. 11. Needless to say that proper opportunity of being heard must be granted to the assessee. The assessee shall be granted physical hearing in order to justify its claim. Accordingly, the grounds raised by the assessee stands partly allowed for statistical purposes. In the result, the appeal file ..... X X X X Extracts X X X X X X X X Extracts X X X X
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