2005 (3) TMI 100

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.... "Whether the Income-tax Appellate Tribunal was justified in law in holding that the addition of Rs. 1,32,442 cannot be made in the income of the assessee on account of unexplained deposits in the savings bank account No. 13272 in the State Bank of India, Hamidiya Road, Bhopal, held by the assessee jointly with Smt. Kashi Bai even though Smt. Kashi Bai did not sign the account opening form nor she operated this bank account at all?" The assessee did not maintain accounts nor had any record of day to day receipts and expenses. After a search, the Revenue reopened the completed assessment and sought details of sources of assets and investments. The assessee furnished a cash flow statement. Not being satisfied the Assessing Officer prepar....

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....ami of the appellant and hence, the deposits in the said bank account are to be excluded from the cash flow statement of the appellant." In an appeal by the Revenue in I.T.A. No. 719/Ind/97, the Income-tax Appellate Tribunal, Indore Bench, by order dated November 15, 2002, affirmed the finding of the Commissioner of Income-tax (Appeals) holding that the order of the Commissioner of Income-tax (Appeals) was comprehensive and supported by convincing reasons and did not contain any infirmities. Dealing with the features pointed out by the Assessing Officer, the Tribunal held that Smt. Kashi Bai, the mother of the assessee, being an old lady, there was nothing abnormal in Kashi Bai taking the assistance of her daughter (the assessee) and emp....