2016 (12) TMI 295

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....rs, but the issue is identical in all the three years except for the amounts of addition and the assessment year and therefore the submissions made by him while arguing appeal for one year would be applicable to all the appeals and therefore all the appeals could be heard together. Ld. DR did not object to the aforesaid submissions of Ld. AR. We therefore, for the sake of convenience, proceed to dispose of all the appeals by a consolidated order. However, reference is being made to the facts in ITA No.819/PN/2014 (for AY 2005-06) in order to adjudicate the issue. 3. The relevant facts as culled out from the materials on record are as under :- 3.1 The Assessee an individual. In response to notice issued u/s 148 of the Act, Assessee filed h....

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.....37, Survey No.37(1), Satsang Colony Deopur, Dhule which was in the name of her husband for getting a loan of Rs. 25 lakhs from Indira Mahaila Sahakari Bank Ltd. for doing advertising business. It was submitted that assessee's husband expired on 25.01.2004 in car accident. It was further submitted that she had given loan of Rs. 23,17,000/- to her husband in cheques. Her husband returned the full amount before his death. The amounts received by the assessee in cash from her husband was deposited in the loan account on various days and thus the source of deposit of cash was repayment of loans. The submissions of the assessee of source of deposits was not found acceptable to the Assessing Officer. He made the addition of cash in various years ....

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....ort of her contention. A perusal of the bank statement reveals that she had deposited Rs. 5 Iacs on 10.08.2004 [pertaining to A.Y. 2005- 06], Rs. 10 lacs on 18/05/2007 [pertaining to A.Y. 2006-07] and Rs. 6 lacs on 25/07/2006 [pertaining to A.Y. 2007-08] i.e. much after the death of her husband on 25/01/2004. As stated above, the appellant had taken a Hypothecation loan on interest. Had this cash been available with the appellant at the time of death of her husband (25/01/2004) as claimed by her, she would have deposited the entire cash in the loan account at that time only. In view of the fact that there is a gap of almost 7 months between the death of her husband and deposit of Rs. 5 Iacs and a gap of nearly 14 month for cash deposit of R....

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.... before his death. She further submitted that due to severe domestic problems and due to death of her husband, she is unable to support her claim by documentary evidences. She further submitted that she is undergoing severe financial crisis and to demonstrate her present financial position, she placed on record the copy of the bank statements of her account with Indian Overseas Bank (Deccan Gymkana Branch Pune) for the period from 01.04.2013 to 26.10.2016. She further submitted that the addition made by the Assessing Officer which have been upheld by CIT(A) are on the basis of presumptions and are not backed by any tangible evidences. She therefore submitted that considering the totality of the facts, the addition be deleted. The Ld. DR, on....