TaxTMI 
TaxTMI 
2018 (11) TMI 471
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....ccepting the book results although the books of accounts are not complete and correct. 2. On the facts and circumstances of the case, the CIT(A) has erred in fact and in law in granting the relief of Rs. 43,37,000/- on account of cash deposited in saving bank account although the said account does not form part of the Balance Sheet. 3. On the facts and circumstances of the case, the CIT(A) has erred in fact and in law in granting the relief of Rs. 43,37,000/- on account of cash deposited saving bank account as deposited out of cash received from contract receipts although no details of such payers have ever been furnished. 4. On the facts and circumstances of the case, the CIT(A) has erred in fact and in law in allowing relief on t....
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....3,37,000/- in his Oriental Bank of Commerce. Ld.AO disallowed these amounts as proper details were not furnished by assessee regarding creditors. 3. Aggrieved by order of Ld. AO, assessee preferred appeal before Ld. CIT (A), who deleted the addition. 4. Aggrieved by order of Ld.CIT(A) assessee is in appeal before us now. 5. Before us, assessee appeared in person and represented his case. 5.1. He submitted that all details regarding impugned addition were handed over to his Representative who was appearing before Ld.AO. However the Representative failed to appear in the proceedings before Ld.A.O. and did not file various details like bills/vouchers in respect of expenses incurred by assessee as well as unsecured loans. Assessee thus subm....
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....that Ld. CIT (A) held that section-145 (3) of the Act could not have been invoked. 7.2. We are in agreement with the findings of Ld.CIT(A). On perusal of remand report admittedly Ld.A.O. is accepting the books of accounts filed by assessee. It is also been submitted that all details regarding the amounts have been verified and is also reflected. Thus we do not find any reason to deviate from observations of Ld. CIT (A). 7.3. Accordingly Ground No.1 raised by revenue stands dismissed. 8. In Ground No. 2-3 revenue is aggrieved by deletion of cash credits made in hands of assessee amounting to Rs. 43,37,000/-. This again has been deleted by Ld. CIT (A) after giving a detailed analysis which is as under: "i) Unexplained cash deposits of R....
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....s. 3, 87, 40,859/- out of which he got payment of Rs. 154,94,983/- in cash & Rs. 2,32,45,875/- through cheque. The assesses also produced complete books of accounts & other relevant supporting details on this issue. From details it has been found that the assessee has received the amount from some parties in cash & same is also reflected in this book of accounts. Hence, the Ld. CIT (A) take necessary decision on merit basis. " I have considered the facts of the case and gone through the submissions of the appellant together with remand report of the A.O. The addition of Rs. 43,37,000/- was made by the A.O in her order u/s 143(3) of the Income Tax Act in view of the fact that no details were submitted by the appellant establishing the gen....