TaxTMI 
TaxTMI 
2011 (3) TMI 1585
X X X X Extracts X X X X
X X X X Extracts X X X X
....ished. 3. The CIT(A) has erred in deleting the addition of Rs. 23,10,000/- being the addition on account of unexplained loan on a wrong appreciation of law and without any basis substituting his own satisfaction in place of A.O.'s satisfaction that the assessee has not discharged his onus as provided u/s.68 of the I.T Act. 4. The CIT(A) erred in deleting the addition of Rs. 12,40,000/- being the addition on account of unexplained credit entry in the bank account on a wrong appreciation of law and without any basis substituting his own satisfaction in place of A.O.'s satisfaction that the assessee has not discharged his onus as provided u/s.68 of the Act. The ld. CIT(A) has also not pointed out any indiscrepancy which could indicate that the AO's satisfaction was based on a wrong appreciation of facts 5. In doing so, the CIT(A) has accepted additional evidences without recording proper reasons in violation of Rule 46A of the I.T. Rules. 6. That the order of the Ld. CIT (A) being erroneous in law and on facts be vacated and the order of the AO be restored. 7. That the appellant craves leave to amend anyone or more of the grounds of the appeal as stated abov....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... observed that the withdrawal of the assessee along with his wife constituted Rs. 96,000 which was quite sufficient as against the estimate of the Assessing Officer at Rs. 1 lakh, therefore, no addition on this account was warranted. He accordingly deleted the addition of Rs. 52,000. 6. We have considered the submissions of both the parties and carefully gone through the materials available on record. In the present case, it is noticed that the Assessing Officer estimated household expenses of the assessee at Rs. 1 lakh. The Assessing Officer while estimating the addition of Rs. 52,000 only considered the withdrawal of the assessee at Rs. 48,000 and did not take into consideration the withdrawal of Rs. 48,000 made by the wife of the assessee. Therefore, the withdrawal for household expenses for the family by the assessee and his wife was at Rs. 96,000 which appears to be reasonable against the estimate of the Assessing Officer at Rs. 1 lakh because the said estimate was without any basis. We are, therefore, of the view that the ld. CIT(A) was justified in deleting the addition made by the Assessing Officer. Accordingly we dismiss ground No. 1 taken by the Department. 7.....
X X X X Extracts X X X X
X X X X Extracts X X X X
....,00,000/- along with the interest as per explanation given by the counsel, Rs. 3 lakhs consists of Rs. 1 lakh, therefore Assessing Officer is directed to delete the addition of Rs. 1,00,000/- after verification at his end also. Thus, ground No. iii(b) of appeal is allowed." 11. Now the Department is in appeal. 12. The ld. D.R. supported the order of the Assessing Officer while the ld. counsel for the assessee reiterated the submissions made before the ld. CIT(A) and strongly supported the impugned order on this issue. 13. After considering the submissions of both the parties, it appears that the same entry of Rs. 3 lakhs was added in the hands of M/s Suyash Khemka (Agarwal) Beneficiary Trust vide order dated 23.5.2008 passed u/s. 147/143(3) of the Act. The said Trust has accepted the addition of Rs. 3 lakhs which included the impugned credit entry of Rs. 1 lakh received from Shri M. K. Shukla. Since the ld. CIT(A) directed the Assessing Officer to verify the above fact and thereafter delete the addition after verification at his end, in our opinion the direction of the ld. CIT(A) does not require any interference on our part because the same addition cannot be made twice. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Kanpur AAQPG 9653H 1200000/- -do- -do- Seema Jain 2A184, Azad Nagar, Kanpur ACAPJ 1794N 300000.00 -do- -do- A.R. Sons Saraf 43/50,Chowk Sarafa, Kanpur AAXP A 2919N 500000/- 4,50,000/- (10.04.01, 50,000/- (20.04.01) Confirmation Repay ment of Loan given in earlier year. Avinash Chand Jain 34/99, Hata Sawai Singh, Chaok, Kanpur AABFA 9037G 100000/- (23.04.01) Confirmation & Bank Statement -do- Yog Petro Pvt. Ltd. 123/1F, Kalpi Road, Kanpur. AAACY 0486D 40.000/- 10,000/- (09.07.01) 30000/- (26.07.01) -do- -do- Agarwal & Associates 110/30, Nehru Nagar, Kanpur AAEF A 9097M 60000/- Confirmation Repay ment of Loan given on 14.02.2 002 [Search u/s 132(1) on 01.12.2004, assessed with the same A.O.] From the perusal of above chart, it will be noted that parties at serial No.1, 2, 6 and 7 were searched cases and assessed with the same A.O., hence verification of credit entries/ transactions was very easy and available from the records of respective creditors with the Asses....