TaxTMI 
TaxTMI 
2012 (8) TMI 456
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....eted at an income of Rs. 12,70,380/- including the addition on account of low withdrawal of Rs. 84,000/- and unexplained investment in the house property Rs. 3,01,000/-, vide order dated 28-11-2008 passed u/s 143(3) of the Income Tax Act, 1961 (the Act). On appeal the ld. CIT(A) while partly allowing the appeal confirmed both the above additions. 3. Being aggrieved by the order of the ld. CIT(A), the assessee is in appeal before us. 4. Grounds of appeal No. 1 & 2 are against the sustenance of unexplained investment Rs. 3,01,000/- u/s 69 of the Act. 5. Briefly stated facts of the above issue are that during the course of assessment proceeding it was inter alia observed by the A.O. that the assessee has booked a flat. The assessee was aske....
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....pport, the assessee has filed copy of agriculture pass books of assessee and his family members and copy of marriage invitation card appearing at page 1 to 28 of the paper book as additional evidence along with an application under Rule 29 of the Income Tax Appellate Tribunal Rules, 1963. He further submits that the assessee has also filed affidavit in this regard. He, therefore, submits that since the additional evidence submitted by the assessee goes to the root of the matter, therefore, the same may be admitted and the issue may be set aside to the file of the A.O. to examine the same afresh. 7. On the other hand, the ld. D.R. while strongly objecting to the admission of additional evidence submitted by the assessee submits that in this....
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....y the ld. CIT(A). We note that in the said bank account which was produced before the A.O. and the ld. CIT(A), there are huge deposits for which no explanation was rendered before the Revenue Authorities. It was stated by the ld. Counsel for the assessee that the deposits in the said bank account are out of sale proceeds of agriculture produce. Thus, it is necessary to examine the credits in the bank account and agriculture income derived by the assessee. In our view, the additional evidence submitted by the assessee at this stage goes to the root of the matter and hence we admit the same and consider it fair and reasonable that the matter should go back to the file of the A.O. and accordingly we set aside the order passed by the Revenue Au....
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....t the Inspector's report was not confronted to the assessee. He further submits that the assessee got married on 18-11-2005 i.e. in the later part of the A.Y. 2006-07. However, the A.O. proceeded on the assumption that the assessee was married in the beginning of the accounting year. He further submits that the house hold expenses are also met out of agriculture income. He therefore submits that in view of the additional evidence submitted by the assessee, the issue may be set aside to the file of the A.O. to examine the same afresh. 12. On the other hand, the ld. D.R. supports the order of the A.O. and the ld. CIT(A). 13. We have carefully considered the submissions of the rival parties and perused the material available on record. We fi....