TaxTMI 
TaxTMI 
2014 (12) TMI 797
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....CIT(A) order page 9 para 5.1. It is said that the ld. CIT(A) has not appreciated the complete facts and various papers like confirmation etc. in his proper perception and therefore, the CIT(A) has erred in not deleting the addition made by the AO worth Rs. 16,75,000/-" 3. The assessee has filed a chart showing various amounts received by the assessee from his close relatives etc. including from his mother on sale of gold ornaments. The learned counsel for the assessee submitted that all evidences like copy of the return of income, PAN card, confirmation letter from all the creditors was filed before the AO as well as before the CIT(A), and therefore, there was no justification for addition of Rs. 16.75 lakhs as unexplained cash credit in the hands of the assessee. The learned counsel for the assessee submitted that the amount of Rs. 7 lakhs credited in the bank account of the assessee was on account of sale of gold ornaments of assessee's mother, Smt. Bhavridevi Agarwal, and the assessee has filed confirmation from the mother of assessee, Smt. Bhavridevi Agarwal and has also filed all the copies of sale bills of Samarth Marketing, jeweler at Ahmedabad in evidence of sale of gold o....
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....s by filing confirmation from various persons in order to avoid payment of due taxes to the Government. She referred to relevant portions of the assessment order as well as the order of the CIT(A) in support of the case of the Revenue and relied on the orders of the AO and the CIT(A). 5. We have considered rival submissions and perused the orders of the AO and the CIT(A) and also copies of various documents in the form of confirmation of the accounts, identity proofs and PAN evidences etc. filed by the assessee before the AO, and copies filed in the compilation before us. Regarding deposit on sale of gold ornaments of the mother of the assessee, Smt. Bhavridevi Agarwal, the assessee was able to file copy of the sale bills issued by Samarth Marketing, jewelers, Ahmedabad, and these evidences could not be controverted by the Revenue. The mother of the assessee, Smt. Bhavridevi Agarwal is an aged lady and extent of gold ornaments claimed to have been sold by her could not be said to be excessive. The AO has not made any further inquiry in this regard, and there is no material on record to doubt the genuineness of the documentary evidences filed by the assessee. Accordingly, the credi....
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.... of the view that considering the returned income of the assessee and the assessee being old income tax assessee, the amount of Rs. 25,000/- as personal savings could not be said to be unreasonable, and accordingly, no addition on this amount be made. This leaves us the amount of Rs. 60,888/-, say Rs. 61,000/- out of the total credit amount of Rs. 16.75 lakhs for which the assessee could not make any explanation. Accordingly, we confirm the addition of Rs. 61,000/- for no explanation of the assessee. In nutshell, the addition of Rs. 55,000/- with regard to the credit entries of Shri Vicky Jindal, Ramesh Patel and Hitesh Shah, and Rs. 61,000/- for no explanation, making a total addition of Rs. 1,16,000/- is sustained, out of the total addition of Rs. 16.75 lakhs confirmed by the CIT(A), and the ground no.3 of the assessee is partly allowed. 6. The grounds no.1 & 2 and the assessee are as under: "1. The ld.CIT(A) has erred in not appreciating the fact that the so-called notice under sec. 143(2) has never been served to the assessee nor to his any authorized representative and since admitted by both the authorities that there is no acknowledgement receipt on record of the Departme....
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....ave been made in the hands of the assessee on account of the said unexplained deposit as the cash credit has already been added in the name of Shri Sunilkumar Agrawal. 2.2 In doing so, the ld.CIT(A) has erred in law and on facts in not appreciating that in the absence of any satisfactory explanation regarding the source of the said cash deposits of Rs. 16,75,000/- the said amount was rightly added in the hands of the assessee as assessee's income from undisclosed sources." 10. The learned counsel for the assessee at the outset submitted that the addition of Rs. 16.75 lakhs was made on substantive basis in the hands of the assessee, Shri Sunilkumar Agrawal and in the case of the present assessee, Shri Rajkumar Agrawal, it was merely on protective basis, and therefore, the CIT(A) was justified in cancelling reassessment under section 147 r.w.s. 143(3) by observing that since the credits were found in the bank account of another assessee, Shri Sunilkumar Agrawal and same has already been added in the name of Shri Sunilkumar Agrawal, it could not be added in the hands of the appellant, Shri Rajkumar Agrawal. The learned DR has relied on the orders of the AO. 11. We have considered r....