TaxTMI 
TaxTMI 
2016 (9) TMI 694
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the assessee admitted taxable income of Rs. 2,88,880/-. The AO determined the income of the assessee in scrutiny assessment at Rs. 60,12,360/- by making the following additions: 1. Unexplained cash deposits of Rs. 56,96,000 2. HRA claimed u/s 10 denied of Rs. 27,480/-. 2.1 As per the AIR information received, the AO noticed that the assessee had made cash deposits in to his Savings Bank account maintained with ICICI Bank, Gaddiannaram, Hyderabad to the tune of Rs. 56,96,000/- during the FY 2009-10 relevant to AY 2010-11. When the AO asked the assessee to explain the sources for these cash deposits along with documentary evidences, the assessee did not respond with proper explanation/documentary evidence excep....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd Income Tax Return filed by him for A.Y. 2010-11. f) It is not understood why Mr.Mohd. Nooruddin was using his brother's account (the appellant) when Mr.Nooruddin has account in his name as evident from earlier assessment orders. That too when the additions were made in earlier years on account of cash deposits. g) It was explained that Mr.Mohd. Nooruddin wanted to help his brother (the appellant) so that the appellant could obtain some loans for purchasing the Flat. It was further explained that the appellant had to show some transactions in his account in order to obtain housing loan. This reason given is totally unconvincing as Mr.Mohd. Nooruddin was doing the same transaction in appellant's account even for e....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rawal and cash deposits were used for the purpose of providing finance to the students/to the persons to enable them to obtain visas for going abroad. No satisfactory explanation was given as to why the appellant let his brother to use his account. A copy of the bank account of the appellant, Mr. Mohd. Zaheeruddin with ICICI Bank was submitted in which his salary was credited. Even in this account also, there were frequent cash deposits, however, these are smaller amounts. Therefore, in view of the above discussion, as no satisfactory explanation was submitted for the cash deposits made in appellant's account, the addition made by the Assessing Officer of Rs. 56,96,000/- is confirmed towards unexplained cash deposits in appellant's ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ng relationship exists with the borrowers. It is with the personal rapport with the banker/s, the assessee's brother could get the bank statement/s of borrowers of that time FROM THE BANK. This too was mis interpreted by the CIT(A) stating that while the bank accounts could be obtained, why not the persons? 2. The Hon'ble CIT(A) must have observed that, from the sources of income(Salary) for the assessee, which does not appear to be denied by any authority, it not possible to maintain such a bank account. 3. The Hon'ble CIT(A) must have appreciated the fact that even the purchase of flat was funded by his brother in the year, which was small amount of about Rs. 9.07 lakhs. The assessee and his brother were fili....