TaxTMI 
TaxTMI 
2018 (12) TMI 688
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....g issues needs our adjudication:- (1) Whether the additions made by the Learned Assessing Officer (In short Ld. A.O) for Assessment Year 2009-10 to 2012-13 were on the basis of incriminating documents/materials found during the course of search. (2) Whether the Ld. CIT(A) was justified in sustaining the addition made by Ld. A.O on account of the alleged unexplained cash deposit in the bank accounts for Assessment Year 2009-10 to 2015-16. (3) Whether the Ld. CIT(A) justified in confirming the addition for unexplained silver utensils valuing at Rs. 34,495/- found during the course of search for the Assessment Year 2015-16. 4. Brief facts as culled out from the records are that the assessee is employee with State Bank of India for last many years and regularly filing her income tax return u/s 139 of the Act. A search and Seizure operations u/s 132(1) of the Act were carried out at the residential and business premises of the persons/partners/ associated concerns of Regal Homes Group on 12.08.2014 which is promoted by Shri Kishan Lal Sharma. Some of the group concerns are M/s. Regal Samarth Construction Company, M/s. Regal Kasturi and M/s. Regal Krishna Bu....
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....g material was found during the course of search. 9. We have heard rival contentions and perused the records placed before us and also carefully gone through the various judgments referred and relied by the Ld. Counsel for the assessee. We find that during the course of search conducted on 12.8.2014 at the residential premises and the lockers owned by the assessee. Except some quantity of gold and silver jewellery found in the Bank Locker no other documents were found. The additions relating to gold jewellery already stands deleted by Ld.CIT(A) except for the silver utensils valuing at Rs. 34,495/- added to the income for Assessment Year 2015-16. The other addition made by the Ld.A.O is for unexplained cash deposit in the bank account. 10. We find that during the course of search except the jewellery ornaments found in the locker no other documents pertaining to the assessee were seized. It was during the course of assessment proceedings for the block period, that the information relating to various bank accounts held by the assessee was called from the assessee and in reply detail of two saving bank account and two over draft staff account were produced. These bank accounts ....
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....in the case of Shri Kanta Prasad Diwedi V DCIT ITA No.182/Ind/16 dated 19.9.2018 in which the undersigned is one of the co-author and after adjudicating similar issue it was held that " we have heard rival submissions and perused the material available on record and gone through the orders of lower authorities below. Ld. DR has placed reliance on the decision of Co-ordinate Bench in the case of Anant Steel Ltd V/s ACIT (2016) 28 ITJ 47 and the judgment of Hon'ble Delhi High Court in the case of CIT (Central) V/s Kabul Chawla (2015) 61 Taxman.com 412. Ld. DR could not controvert the submissions of the assessee that no incriminating documents was found. Moreover we find that the addition is sustained merely on the basis of presumptions. We therefore direct the AO to delete this addition". 14. We therefore respectfully following the above referred judgments and decisions and in the given facts and circumstances of the case where no incriminating material was found during the course of search, the alleged additions confirmed by Ld.CIT(A) which were made by Ld. A.O on account of unexplained cash deposit needs to be deleted for Assessment Year 2009-10 to 2012- 13 at Rs. 62,000/-, ....
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....posit in bank The detail of sources from which the cash was received was furnished and all such details were readily verifiable from the records available at the file of the AO, No specific deficiency is found by the AO. Further the assessee is a bank employee and any surplus cash is deposited by her in the bank account and is withdrawn by her from time to time as may be required by her. It may be mentioned that she was not required to put any extra efforts or to incur any cost in making such deposits a5 she was herself serving with the same bank which is obvious from the fact that she has even deposited Rs. 1000/-, Rs. 250/-, Rs. 1200/-, in her bank account. 9.6.iv Cash received from the husband must have been utilized for house hold expenses The assessee receives a fixed amount for house hold expenses which was utilized by her as per the needs of the family and at times the funds not immediately required were deposited in the bank account. It may be mentioned that the total contribution received by the assessee in all the years under consideration from her husband in cash for house hold expenses was Rs. 12,00,000/- as against which the assessee has made cash expenses ....
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.... 2015-16 Opening balance of cash in hand 44,950 146,480 64,655 Cash drawn from Bank 251,485 62,700 162,500 Cash received from husband 180,000 180,000 360,000 Household cash expenses incurred 259,405 195,700 301,000 Cash deposited in bank considered by A.O 42,250 124,325 308,207 Cash deposited in bank not considered by A.O 28,300 4,500 - Closing balance of cash in hand 146,480 64,655 - House Hold expenses by cheque 33,866 22,097 88,181 CIT(A) deleted the addition 18,250 103,700 54918+ 45439 CIT(A) confirmed the addition 24,000 20,625 207,850 19. From going through the above chart we find that the assessee who is the employee of State Bank of India is regularly earning income from salary. She has some amount of cash in hand. Assessee also draws cash from bank during the year for the household expenses. Some of the household expenses have been incurred by her through cheque. It has also been claimed that the assessee has received cash from her husband for incurring household expenses. 20. As far as looking to the details of Assessment Year 2013-14 and ....