9911796707
TMI Blog2024 (8) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... , then it is not open for AO to independently assess some other income. In this case, AO had independently tried to assess which was outside the initial reasons. Therefore, it is held that AO had no jurisdiction to add independently. Accordingly, we direct the AO to delete the addition. Addition u/s 56 - As observed that assessee s father had issued a cheque in the name of assessee. The source of this is well explained as maturity amount received from maturity of Fixed Deposits. Therefore, source stands explained. Hence, assessee has fulfilled his primary onus of proving identity, genuineness and creditworthiness. Assessing Officer has not brought on record any document to negate the Assessee s submission. Any sum of money received from a R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment got reopened, hence The order passed needs to be quashed. 2) Ground No.2 On On the facts and circumstances of the case The learned AO erred in making addition of Rs. 216000/- u/s 69A without considering genuine sources submitted by assessee. this addition has been made merely on the basis of imagination and without giving any legal reason for the same 2.1) During the course of assessment Assessee has produced Bank statement of his father and explained about every single Rupees for gift received by him from his father. His father given gift out of Fixed deposit maturity proceeds only. But AO has not considered this fact. Rather he made his imagination and made addition u/s 69A Prayer- The Assessee prays that learned AO made an additio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AO held that gift is not genuine and made an addition u/sec.69A of the Act of Rs. 2,16,000/-. Aggrieved by the same, assessee filed appeal before ld.CIT(A). Ld.CIT(A) confirmed the addition. 2.1 Aggrieved by the same, assessee filed appeal before this Tribunal. Submission of ld.AR : 3. The ld.AR for the Assessee filed written submission. Ld.AR submitted that no addition has been made on the ground on which notice u/sec.148 was issued. Therefore, ld.AR relied on various case laws to plead that assessment is bad in law. 3.1 The ld.AR took us through the copy of the assessee s father s bank account maintained with S.S.L.SHRIPAL ALASE(KAKA) KURUNDWAD URBAN CO-OP BANK LTD., Branch- Jaysingpur. He explained that on 09.04.2012, Fixed Deposits were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n has been made on account of reason for reopening. 6.1 The Hon ble Bombay High Court in the case of CIT Vs. Jet Airways (I) Ltd., [2011] 331 ITR 236(Bom) has held as under: However, if after issuing a notice under section 148, he accepted the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income. If he intends to do so, a fresh notice under section 148 would be necessary, the legality of which would be tested in the event of a challenge by the assessee. 6.2 Thus, the Hon ble Bombay High Court held that if no addition has been made on account of the income al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.00 Cr 09/04/2012 TR BY TRF :- 60/18/9889 09/04/2012 11391.00 47932.00 Cr 09/04/2012 TR BY TRF:- 60/18/10066 09/04/2012 6188.00 54120.00 Cr 09/04/2012 TR BY TRF:- 60/18/10068 09/04/2012 15099.00 69219.00 Cr 10/04/2012 CR BY CASH 10/04/2012 49000.00 118219.00 Cr 10/04/2012 CR BY CASH 10/04/2012 49000.00 167219.00 Cr 10/04/2012 CR BY CASH 10/04/2012 49000.00 216219.00 Cr 10/04/2012 CR BY CASH 10/04/2012 49000.00 265219.00 Cr 14/04/2012 CP TO SELF 14/04/2012 68000.00 197219.00 Cr 20/07/2012 TR TO UMESH B CHIPRIKAR 566011 19/07/2012 216000.00 18781.00 Dr 20/07/2012 TR BY TRF:- 60/2/6357 20/07/2012 68643.00 49862.00 Cr 6.5 Thus, it is observed that assessee s father had issued a cheque no.566011 in the name of assessee of Rs. 2,16,000/-. The so ..... X X X X Extracts X X X X X X X X Extracts X X X X
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