2018 (12) TMI 978

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....iled his return of income for Assessment Year 2008-09 on 22.7.2008 declaring total income of Rs. 3,84,759/-. The assessee's case was taken up for scrutiny in the year under consideration. In the course of assessment proceedings, the assessee was required to explain the source of cash deposits made in his bank accounts with Karur Vysya Bank and Axis Bank, which was furnished to the assessing officer ('AO'). The AO was not convinced with the explanations put forth by the assessee in respect of certain cash deposits to the extent of Rs. 1,25,700/- and accordingly concluded the assessment u/s 143(3) of the Act vide order dated 13.12.2010, wherein the assessee's income was determined at Rs. 5,10,640/- on account of the addition of unexplained ca....

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....its by way of salary, etc., and the income returned instead of the aggregate of such bank deposits in the bank accounts. 4. The addition is purely on suspicion and surmise, assumption and presumptions and requires to be deleted. 5. Without prejudice to the right to seek waiver with the Hon'ble CCIT/DG, the appellant denies himself liable to be charged to interestd-2-34-----B of the Act, which under the facts and in the circumstances of the appellant's case deserves to be cancelled. 6. For the above and other grounds that may be urged at the time of hearing of the appeal, your appellant humbly prays that the appeal may be allowed and Justice rendered and the appellant may be awarded costs in prosecuting the....

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....ons and carefully perused the material on record, I find that the assessee is only a salaried employee and apparently does not carry on any business or profession. His source of income as being only from salary to the extent of Rs. 5,99,045/- is not disputed by the authorities below and as per the copies of bank accounts/statements examined by the authorities below, there are cash withdrawals to the tune of Rs. 3,20,900/- therefrom in the year under consideration. The assessee's contention is that the aforesaid cash withdrawn was for the medical expenses of his mother-in-law and later being received back from his father-in-law was re-deposited in his bank account. The assessee's father-in-law, a retired government pensioner, from the det....