2016 (1) TMI 613

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....is return of income for A.Y. 2008-09 on 12.02.2009 declaring total income of Rs. 4,05,050/- and agriculture income of Rs. 3,03,262/-. The case was selected for scrutiny and thereafter the assessment was framed under section 143(3) vide order dated 15.12.2010 and the total income was determined at Rs. 7,99,150/-. Aggrieved by the order of A.O., Assessee carried the matter before ld. CIT(A) who vide order dated 30.04.2012 granted partial relief to the Assessee. Aggrieved by the aforesaid order of ld. CIT(A), Assessee is now in appeal before us and has raised the following grounds:- 1. In view of the facts and circumstances of the case, the ld. CIT(A) ought to have held that the ld. A.O has erred in law in adding the sum of Rs. 2,38,0....

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....bsp; 2 Central Bank of India Account No. 1355639717 13.04.2007 60000 23.4.2010 50000 06.02.2008 23,000 Total 1,33,000   The correct total comes to Rs. 2,80,000 and not Rs. 2,79, 097/- added by the Assessing Officer. Therefore, for the purpose of appellant proceedings the amount of cash deposits is taken at Rs. 2, 80,000/-. 8.1 Out of these cash deposits of Rs. 2, 80,000/- one deposit amounting to Rs. 42, 000/- in account number 47484 is claimed to be a cheque deposit and not cash deposit. As per the appellant, this deposit was made on 07. 12. 2007 whereas the Assessing Office in the assessment order has mentioned the date of deposit as 12.07.2007. It is true that the deposit of Rs. ....

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....hen he is having bank accounts. The amount of cash claimed to be kept at home in subsequent months is also unreasonably- high as compared to the salary per month and returned income of the appellant. The opening cash balance is also disproportionately high considering the returned income of Rs. 4, 05,000/- and monthly household expenses claimed at Rs. 18,000 per month. Moreover, the withdrawals claimed to have been used for .deposits have been made on a regular pattern throughout the year, which shows that the withdrawals have been made for a specific purpose and the benefit of circulation of funds cannot given in this case. By taking into consideration of these facts, the addition of Rs. 2,38,000/- made by the assessing officer is confirme....

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....isproportionately high considering the returned income and the monthly household expenses. Before us, Assessee has also not placed any material on record to controvert the findings of ld. CIT(A) or pointed any fallacy in his findings. In view of these facts, we find no reason to interfere with the order of ld. CIT(A) and thus the ground of Assessee is dismissed. 8. In the result, the appeal of Assessee is dismissed. Order pronounced in Open Court on 17 - 11 - 2015. ============= Document 1 Date Particulars Opening balance Receipt Payment Balance 303095 |303095 13.04.2007 Cash deposited in Central Bank of India 47484 20000 283095 13.4.2007 |Cash Deposited in Central Bank of India 135563971....

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....h withdrwal from Central Bank of India 10000 47484 269375 24.8.2007 Cash withdrawal from Central Bank of India 47484 10000 10000 279375 31.8.2007 Salary for the month of August 2007 17820 17820 297195 31.8.2007 Withdrawal 11.9.2007 Cash Withdrawal from Central Bank of 10000 18000 279195 289195 India 47484 10,000 Document 3 17.9.2007 29.9.2007 Cash withdrawal from Central Bank of 20000 India 47484 20000 Withdrawal 309195 19000 290195 30.9.2007 Salary for the month of September 2007 17820 308015 18.10.2007 Cash withdrawal from Central Bank of India 47484 15000 15000 323015 31.10.2007 Salary for the month of October 2007....