2018 (7) TMI 1092

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....red by allowing M.A. 2. I have heard Ld. Representatives of both the parties and perused the material available on record. 3. Briefly facts of the case are that in this case an assessment was completed u/s 143(3) /147 on 15th December, 2008, wherein an addition of Rs. 14,00,000/- was made to the returned income of the assessee treating the deposit of cash in Allahabad Bank, Paharganj on various dates, during the year as unexplained. The addition of Rs. 14,00,000/- were deleted by the Ld. CIT(A) vide order dated 10th December, 2009. The department filed appeal before ITAT and the Tribunal vide order dated 30th April, 2010 in ITA no. 806/2010 set aside the order of the CIT(A) and restored the matter back to the file of AO with the direc....

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....ssessment year 2003-04 and 2004-05. The AO, however, did not accept contention of assessee and noted that the story put forth by the assessee appears only cook and buy story. Nothing has prevented the assessee from depositing the cash in the bank account instead of making deposit on different date from 5th May, 2004 to 23rd March, 2005 in a sum of Rs. 14,00,000/- when the bank facilities are available. The source of income is not proved, the assessee has no withdrawal for household purpose. The explanation of assessee was rejected and addition of Rs. 14,00,000/- was made to the returned income. 5. The assessee challenged the addition before the Ld. CIT(A) and reiterated the same submissions, however, Ld. CIT(A) noted that nature and sour....

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....ch, 2004 showing opening cash in hand along with copies of Income Tax and Wealth Tax Return to show that in proceeding assessment year 2004-05, assessee has cash in hand as on 31st March, 2004 in a sum of Rs. 11,49,879/-. This return was accepted by the department while processing the return u/s 143(1) of the Act. The assessee has been taking this stand consistently before the authorities below. Further the Ld. CIT(A) in earlier appellate proceedings accepted the similar claim of assessee. However, the Tribunal restored the matter back to the file of AO with direction to examine the genuineness of the cash available with the assessee as shown in statement of affairs and also to see the household expenses. Since in earlier year revenue depar....