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TMI Blog2023 (6) TMI 1411X X X X Extracts X X X X X X X X Extracts X X X X ..... d of investigation, enquiry, evidences that the AO is required to take into consideration for the purpose of assessing such cases. Instructions dated 09/08/2019 speaks about the comparative analysis of cash deposits or cash sales, month wise cash sales and cash deposits. It also provides that whether in such cases the books of accounts have been rejected or not where substantial evidences of vide variation be found between these statistical analyses. Therefore, it is very important to verify whether a case of the assessee falls into statistical analysis, which suggests that there is a booking of sales, which is non-existent and thereby unaccounted money of the assessee in old currency notes (SBN) have been pumped into as unaccounted money. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash. The Ld.AO shall verify all the details/evidences filed by the assessee based on the above direction and applicable instruction, to the facts and circumstances of the present assessee and to consider the claim in accordance with law. Appeal filed by the assessee stands partly allowed for statistical purposes. X X X X Extracts X X X X X X X X Extracts X X X X ..... eposited in Bank Account U/s. 68 without appreciating that bank passbook or statement are not books of accounts and as such no addition can be made u/s 68. Reliance is being placed in following judgements ; (2023) TaxCorp (A.T.) 103522 (ITAT-AMRITSAR), SH. SATBIR SINGH BHULLAR VERSUS INCOME TAX OFFICER, WARD-5 (4), AMRITSAR Smt. Ramilaben B. Patel v. Income Tax Officer, Ward-3, Gandhinagar, [2018] 100 taxmann.com 325 (Ahmedabad - Trib.) Income-tax Officer, Barabanki v. Kamal Kumar Mishra [2013] 33 taxmann.com 610 (Lucknow - Trib.) Mehul V. Vyas v. Income-tax Officer, 23(2)(3), Mumbai [2017] 80 taxmann.com 311 (Mumbai - Trib.) 9. Learned Authorities ought to have given sufficient opportunity of being heard if the submission of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia for selling policies. The appellant earned Rs. 75,698/commission income during the year and offered the same for taxation. The appellant has submitted that he had deposited cash during the demonetization (SBNs) only to extent of Rs. 19,000/- and has made cash deposits of Rs. 33,96,000/- during the year. Cash withdrawals during the year are Rs. 23.49,000/- . The appellant has claimed that he is a member of HUF having agricultural lands to the extent of 12.30 acres. The appellant has further claimed that he is also cultivating lands of HUF and the majority of sale proceeds are held with the appellant who is the only male child of his father, Sri. Marula Siddappa. The appellant also claims that the land is irrigated. and areca nut is the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A), the assessee is appeal before the Tribunal. 5. The ld.AR reiterated the submissions before this Tribunal has been submitted before the authorities below. 6. On the contrary ld.DR submitted that cash deposited during the demonetization period has to be verified in the light of the Circular issued by the CBDT. Both sides, thus prayed for the issue to be remanded back to the ld.AO for verification afresh. 7. Admittedly, the assessee had accepted the SBNs which were no longer a legal tender and were to be explained in accordance with the relevant circular mentioned hereinabove. These instructions gives a hint regarding what kind of investigation, enquiry, evidences that the assessing officer is required to take into consideration for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transfer of deposit of cash to another account or entity, which is not in line with the earlier history. Therefore, it is important to examine whether the case of an assessee falls into any of the above parameters are not. 8.2 The assessee is directed to establish all relevant details to substantiate its claim in line with the above applicable instructions as applicable to the present facts of assessee. We are aware of the fact that not every deposit during the demonetization 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. The Ld.AO shall verify all the details/evidences filed by the assessee based ..... X X X X Extracts X X X X X X X X Extracts X X X X
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