TaxTMI 
TaxTMI 
2013 (10) TMI 777
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....of revenue and CO of assessee after hearing Ld. DR. First we will take up revenue's appeal in ITA No. 363/Ahd/2013 3. Revenue has taken following two grounds:- "1. On the facts and in the circumstances of the case and in law, the Hon'ble CIT(A) erred in deleting the addition of Rs. 10,25,000/- made u/s. 68 of the I.T. Act. 2. On the facts and in the circumstances of the case and in law, the Hon'ble CIT(A) erred in deleting the addition of Rs. 10,00,000/- made u/s. 69B of the I.T. Act." 4. First ground relates to addition of Rs. 10,25,000/- u/s. 68 of the Act on account of unexplained and unaccounted cash being deposited in bank account. 5. Brief facts of the case are that assessee is a travel agent engaged in the business ....
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....ed that AO did not appreciate that sale proceeds of three vehicles has been received prior to date of deposit of Rs. 10,25,000/- in the bank account. It was therefore the contention of the assessee that she had discharged the onus of explaining the source of cash deposits in her bank account and AO without making any further inquiry into the matter arbitrarily ignored the evidence submitted by the assessee before him. 7. Ld. CIT(A) after taking into consideration the submission of the assessee and taking reliance on various case laws deleted the addition made by the AO. 8. Before us, Ld. DR relied on the order of AO. 9. After hearing Ld. DR and perusing the record, we find that when AO asked the assessee to explain the cash deposit....
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....Nos. GJ-21T- 9565,GJ-21T-9536 & GJ-21T-9558. On this issue the assessee was issued show cause notice as to why the difference took place in her written submission and NOC issued by RTO office. It was also questioned that the assessee has acquired vehicles bearing vehicle No. GJ-21T-9565, GJ-21T-9536 but the same has not been shown in her books. Therefore the assessee was asked to show cause as why the unaccounted investment in these vehicles should not be treated as investment outside books. 5.1 In the reply of the assessee has contended that due to typographical mistake the registration number has been entered wrongly. The assessee has also argued that the vehicles sold as shown in her written submissions, are in the name of other perso....
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....pellant but on the contrary the cost of captioned vehicles bearing Regn. No. GJ-21T-9565 and GJ-21-T-953, which were sold during the year have been properly recorded in the books of the appellant in the year of its purchase and has been reflected in the books of accounts as well as computation of WDV in depreciation working as well as computation of income. Based on the factual matrix and evidences on record it can be inferred that typographical error made by the accountant can in no way be starched to imagine and hold that unexplained investment in vehicles has been made by the appellant. In order to charge unexplained investment as income, the burden is upon the Revenue to conclusively establish by evidence or material the fact of investm....
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....viz. GJ-21-T-9565 and GJ-21-T-9536 have been purchased by the appellant in the current year as the same have been registered in the name of the appellant in preceding previous years. The precise date of acquisition of the two vehicles as per RTO records are narrated below:- Regn. No. Date of registration GJ-21-T-9565 01-03-2004 GJ-21-T-9536 03-10-2003 Based on the factual and legal matrix and glaring facts that the captioned vehicles had been purchased in the preceding previous year and has been reflected in the books of accounts of the appellant form time to time, I am inclined to delete the addition of Rs. 10,00,000/- made by the appellant as the typographical mistake of the accountant would not vitiate the fact that ....
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....i) GJ21T9565 Rs. 2,43,370/- (Repairing of Capital Nature) (ii) GJ21T9536 Rs. 1,29,710/- (Repairing of Capital Nature) 6.1 On verification of the depreciation chart attached with the return of income, it is revealed that the assessee has firstly added the capital expenditure in the written down value of the vehicles and then she deducted the sale consideration form it. In this way, it is absolutely clear that the assessee has decreased the value of capital gain. Further it is pertinent to mention here that the assessee has failed to produce any documentary proofs in regard of capital expenditure made towards the vehicles. In the absence of any documentary evidence, how can it is justified that the assessee has made capital expens....