TaxTMI 
TaxTMI 
2010 (12) TMI 1083
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....is order dated 30-11-2006 for assessment year 2004-05. 2. The first issue in this appeal of assessee is against the order of CIT(A) confirming the action of Assessing Officer on account of difference in opening balance with M/s. Deep Polymers. For this, assessee has raised the following ground No.1:- "1. The Ld. CIT(A) has erred in law and on facts in confirming the action of AO in addition a sum of Rs.63,314/- on account of alleged opening difference in account with M/s. Deep Polymers." 3. The brief facts are that the Assessing Officer during the course of assessment proceedings noticed from the accounts of the assessee that there is difference of Rs.63,314/- in the closing balance of the assessee as per books of account of assess....
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....assessee tried to explain that this difference exists from the year 1998-99. We find that these documents were not examined by Assessing Officer and even the CIT(A) has recorded his finding that the assessee could not explain, in the interest of justice, we are of the view that, let these documents be placed before Assessing Officer, so he can find out exactly whether the difference is explained or not and accordingly decide this issue. Accordingly, we set aside this issue to the file of Assessing Officer as indicated above. 5. The next issue in this appeal of assessee is against the order of CIT(A) in confirming the disallowance of expenditure at Rs.30,976/-. 6. At the outset, Ld.SR-counsel for assessee, Shri S.N.Soparkar stated that....
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....f the donors, copy of gift deed, relationship with the donors, bank remittance certificate and such other details as called for by Assessing Officer but AO did not consider any of these evidences and added the entire gifts received by the assessee as unexplained cash credit u/s.68 of the Act. The AO called upon the assessee to prove the said gifts as genuine and further called upon assessee to file documentary evidences in support of the said gifts received by him. The assessee, in turn, placed on record the following documents:- "i) Complete name and address of the donors; ii) Copy of the gift deed; iii) Copy of the passport of the said donor; iv) Gift deed confirmation and affidavit of the said Donors' The assessee also sub....
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.... 9. We have heard the rival contentions and gone through the facts and circumstances of the case. We find that during the year under consideration the assessee received two gifts - first received on 01-12-2003 for an amount of Rss.5,42,201/- from Smt. Ritaben Hirpara, who residing in USA. We find that assessee has filed details in respect of said gift received with the Assessing Officer i.e. declaration of $ 12,000/- by way of an affidavit dated 03- 05-2004, which is enclosed at page-27 of assessee's paper book. The assessee has also filed copy of bank draft at page-28 of assessee's paper book and also copy of message at page-29 of assessee's paper book. The assessee also filed copy of passport at page-37 & 38 of Smt. Ritaben Hirpara. Ld. C....