TaxTMI 
TaxTMI 
2015 (9) TMI 1295
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....ainst the facts & Law. 2. The Learned CIT(A) has erred in upholding addition of Rs. 10,00,000/- on account of refund of flat booked as unexplained sources of the appellant. 3. That the Learned CIT(A) has erred in upholding addition of Rs. 10,000/- out of deposits in bank during the year as unexplained credits. 4. That the Learned CIT(A) has erred in upholding addition of Rs. 50,000/- out of deposits in bank during the year as unexplained credits. 5. That the Learned CIT(A) has erred in upholding addition of Rs. 7,18,685/- out of deposits in bank during the year as unexplained credits. 6. That the Learned CIT(A) has erred in upholding addition of Rs. 11,41,760/- out of deposits in bank during the year as unexplained credits. ....
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..... DR submitted that since documents were not filed before the Assessing Officer or CIT(A), the same should not be admitted. 7. After considering the rival submissions we find that following documentshave been sought to be admitted:- Sr. No. Particulars P.B. Page Reasons for additional evidence 1. Application cum allotment letter Paper Book Page No.14 Non availability of old records with the society due to change in management and hence could not be filed earlier. 2 Allotment Letter Paper Book Page no. 2 The file pertaining to these documents was not traceable earlier. 3 Notice for payment from society Paper Book Page no. 3-4 The file pertaining to these documents was not traceable earlier. ....
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....ined earlier. Therefore, we admit to the documents listed at SR. No.1 to 9 above except for the document No.5. 9. After considering the rival submissions and in view of the admission of additional documents stated above, we set aside the order of Ld. CIT(A) and remit the matter back to the file of Assessing Officer to reexamine the issue in the light of the additional evidence and then decide the same in accordance with law in respect of ground Nos. 2 & 6. 10. Ground Nos. 3 & 4: After hearing both the parties we find that during assessment proceedings it was noticed that assessee had deposited a sum of Rs. 10,000/- and Rs. 50,000/- in cash in the bank account at Punjab National Bank, Manimajra on 8.6.2006 and 7.2.2007 for which no exp....
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....ash deposited in PNB -- -- -- 50,000/- 2,75,000/- 14.03.2007 Cash withdrawn from PNB 722887 40,000/- -- 3,15,000/- 15. The above clearly shows that surplus cash is available with the assessee. The sum of Rs. 10,000/- can be said to be easily available from withdrawals of Rs. 2,85,000/- on 22.5.2006. Similarly, deposit of Rs. 50,000/- on 7.2.2007 can be easily explained from the withdrawals of Rs. 50,000/- on 15.1.2007. Therefore, in our opinion this addition is required to be deleted and accordingly we set aside the order of CIT(A) and delete the same. 16. Ground Nos. 5 & 8 : After hearing both the parties we find that certain deposits were noted by the Assessing Officer for which no ex....
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.... in respect of these two entries after obtaining confirmation etc. in accordance with law. 20. Ground No.7 After hearing both the parties we find that there was another entry of Rs. 1,75,000/- for which no details were filed and Assessing Officer made addition on account of the same. On appeal before CIT(A), it was stated that this amount was received from the sister of the assessee as gift. However, Ld. CIT(A) rejected the explanation because no confirmation was filed. 21. Before us Ld. Counsel for the assessee submitted that CIT(A) has already accepted the another gift of Rs. 5 lakhs from the sister then he should have accepted this gift also. 22. On the other hand, Ld. DR supported the order of Assessing Officer and CIT(A). ....