TaxTMI 
TaxTMI 
2015 (12) TMI 355
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.... 10,30,946/- thereby confirming an addition of Rs. 14,16,946/- in the hands of the assessee. 2. The learned CIT(A) has erred in treating the opening balance of cash in hand on 01/04/1998 appearing in the cash book , as income of the assessee. 3. The entire addition made is unjustified, illegal and band in the eyes of law." 3. Learned A.R. of the assessee submitted brief synopsis, which are reproduced below: "The assessee is a lady, born in 1945, she is physically handicapped. She lives with her brother Shri Gul Vani assessed to tax vide PA No. AELPV0183J, who supports her in all respects (confirmation from Gul Vani on page 101 of the paper book). Her father late Shri B.D. Vani was a senior officer with HPCL and....
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....sessee during this period i.e. 01.04.1997 to 31.03.1998 would be in excess by Rs. 6,31,210/- which becomes the cash in hand as on 31.03.1998 and opening balance of cash as on 01.04.1998. As against this, the AO has added a sum of Rs. 5,87,693/- being deposits in bank. This submission is without prejudice to the actual closing balance of Rs. 14,16,946/- as on 01.04.1998. The opening balance of Rs. 14,16,946/- included a sum of Rs. 8,00,000/- given as advance for purchase of property during the period ending on 31.03.1997, which was received back on 31.07.1997 (confirmation attached). By refund of this amount, the closing balance as on 31.03.1998 came to be Rs. 14,16,946/-. The return of income for the A.Y. 1999-2000 to 2002....
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....4,16,946/- as brought forward from earlier years as unexplained income of the year. It is submitted, that the opening balance brought forward from the earlier year cannot be added as unexplained income of the year. The balance of convenience weighs heavily in favour of the assessee for the reason that the explanation given by the assessee has not been found to be false. At the same time the AO has not brought any material on record to establish that the assessee had some other source of income in addition to the income which she received from Wood Row School Society. The period of 30 years first as a teacher and thereafter as a principal is a fairly long period and cannot be overlooked, at the same time the probability of savings c....
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....LKW/2013 A.Y. 2009-10, Date of Order: 29.11.2013 ii) Dy. CIT vs. Satish Chandra Pandey, ITA No. 25/LKW/2010 A.Y. 2001-02, Date of Order: 30.03.2011 iii) ACIT vs. Smt. N. Sasikala, ITA No. 435/Mds/197 A.Y. 1991-92, Date of Order: 07.12.2004 iv) Kiran Devi vs. ACIT, ITA No. 1129/DEL/2008 A.Y. 998-99, Date of Order: 09.02.2010 v) CIT vs. Prameshwar Bohra, IT Appeal No. 7 of 2003, High Court of Rajasthan, Date of Order: 04.01.2007 In view of the above submissions, it is submitted that against total withdrawals and deposits made in the bank, the assessee had a balance of Rs. 6,31,210/- left as on 31.03.1998 which became the cash available as on 01.04.1998. Thus, no part of Rs. 5,87,693/- is unexplaine....
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....after reducing deposit of cash during this period was Rs. 12.59 lac. The opening balance as on 01/07/97 was Rs. 1,67,946/- which also includes withdrawal from bank of Rs. 1.10 lac in the month of May 97. He submitted that under these facts, it has to be accepted that the cash available with the assessee as on 01/04/98 of Rs. 14,16,946/- is supported by independence evidence in the form of bank statement that the assessee was having this money during financial year 97-98 and therefore, this is not proper on the part of learned CIT(A) to hold that the assessee could not explain the source of opening cash in hand shown in the cash book. 5. Learned D.R. of the Revenue supported the order of learned CIT(A). 6. We have considered the rival ....
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....es nor the enhance made by CIT (A) can survive. In this regard, we find that as per the copy of cash book for the financial year 97-98 available on pages 13 to 15 of the paper book, there is withdrawal from PNB, Rajendra Nagar Branch account No. 9684 as under: Month Amount(Rs.) May 97 1,10,000 July 97 8,00,000 November 97 1,00,000 December 97 2,15,000 January 98 1,10,000 February 1,83,000 March 98 80,000 15,98,000 Deposit in the bank account during the period from July 97 to March 98 is as under: Month Amount(Rs.) July 97 25,000 August 97 10,000 November 97 43,000 December 97 1,05,000 January 98 56,000 2,39,000 Surplus of Cash....