TaxTMI 
TaxTMI 
2017 (6) TMI 829
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.... Assessment year - 2009-10 3. This appeal by assessee has been directed against the order of Ld. CIT(A) I Dehradun dated 27thFebruary, 2013 for asstt. year 2009- 10. 4. Ground No. 1 and 2 are general and need not adjudication. Ld. Counsel for assessee did not press ground No. 4 of the appeal. Same is dismissed as not pressed. 5. On ground No. 3 assessee challenged the addition of Rs. 80,000/- out of opening capital of Rs. 1,80,000/- carry forward from previous year i.e. asstt. Year 2008-09. 6. It is noted in the impugned order that assessee claimed to have made initial investment of Rs. 1,80,000/- out of his opening balance of capital. According to him, he had cash amount of Rs. 2,40,000/- representing his own capital accumulated over ....
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....e limit. The AO rejected the claim. The computation of income for that year would also be below taxable. The opening cash balance cannot be accepted simply because assessee has furnished return showing equivalent of closing balance of cash in hand. Ld. CIT(A) also noted that same is the policy in other cases of liquor contractors. Ld. CIT(A) after considering some savings of the assessee in past had given credit of Rs. 1,00,000/- and balance addition of Rs. 80,000/- was confirmed. 7. After considering rival submissions we do not find merit in this ground of appeal of assessee. The assessee filed return of income for asstt. Year under appeal i.e 2009-10 on 11th September, 2009. However the Ld. CIT(A) noted that the return for preceding asse....
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....ar (supra). We may also note that suppose any assessee may declare any huge amount in cash flow statement in preceding year which was not subject to scrutiny assessment whether same could be extended benefit to the assessee, the answer would be that such attempt to build capital cannot be accepted unless there was some evidence of record to justify accumulative of funds or the availability of the opening capital balance. This ground of appeal of assessee thus has no merit the same is accordingly dismissed. 8. On ground No. 5 assessee challenged the addition of Rs. 4,10,000/- on account of sale of trees to Shri Khalil. The Ld. CIT(A) noted that assessee claimed to have received a sum of Rs. 4,10,000/- by way of sale of trees from Mr. Khalil....
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....assessee was not able to produce any evidence if any actual amount was given to the assessee for sale of popular tree. No evidence in support of his claim of sale of trees has been filed. In the absence of any evidence to prove that assessee was owner of popular trees or he has actually sold the popular tree to Mr. Khali, no interference is called for in the matter. Similarly production of receipt and statement recorded by AO orally is not sufficient to discharge onus upon assessee to prove genuineness of the transaction in the matter and actual sale transaction of popular tree. In the absence of any evidence or material on record no interference is called for in the matter. This ground of appeal of assessee is accordingly dismissed. 10. I....