TaxTMI 
TaxTMI 
2019 (1) TMI 264
X X X X Extracts X X X X
X X X X Extracts X X X X
....n bank accounts are unexplained. 2.1 The Ld. CIT(A) failed to appreciate the fact that the cash was deposited out of cash withdrawn from the bank accounts and advances received back from two persons to whom advance was given by the assessee in preceding year for purchase of agricultural land, who confirmed the return of advance to the assessee in response to notice u/s. 133(6) of the Act and subsequently in their statement recorded by the Ld. ITO u/s. 131 of the Act. 2.2 The Ld. CIT(A) failed to appreciate the fact that the assessee has income only from 'other sources' - bank interest and 'agriculture' and the assessee has no business; and therefore, the assessee is neither required by law nor is maintaining books of account and therefo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ho vide his impugned order dated 28.1.2016 has partly allowed the appeal of the assessee. Aggrieved with the impugned order, the assessee is in appeal before the Tribunal. 3. At the time of hearing, Ld. counsel for the assessee has only argued the legal ground by stating that exactly the similar issue to the ground no. 2 to 2.2. in the present appeal has been recently adjudicated and decided by the ITAT, 'F' Bench vide order dated 27.11.2018 in ITA No. 2483/Del/2015 (AY 2011-12) in the case of Vijay Kumar Prop. V.K. Medical Hall vs. ITO. He draw our attention towards para no. 8 of the order wherein it was stated that AO has invoked the section 68 of the Act, on cash deposit found in bank accounts and admittedly assessee is not maintaining ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....veer Singh; ITAT, 'E' Bench decision in the case of Om Prakash in ITA No. 1325/Del/2011 vide order dated 11.8.2016; ITAT, SMC Bench decision dated 30.12.2016 in the acse of Sunil Vaid in ITA No. 2414/Del/2016; Hon'ble Punjab and Haryana High Court decision in ITA No. 122 of 1999 dated 22.10.2013 in Dulla Ram and ITAT, Lucknow Bench decision in the case of Kamal Kumar Mishra in 143 ITD 686. 4. On the contrary, Ld. DR relied upon the order passed by the revenue authorities. 5. We have heard both the parties and perused the records and the case laws cited by the Ld. counsel for the assessee. We find that in this case return of income was filed on 31.3.2011 declaring an income of Rs. 6,5,454/- inclusive of agricultural income of Rs. 2,60,800/....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... in the written form or as printouts of Tata stored in a floppy, disk, tape or any other form of electromagnetic data storage device; He also referred to following decisions of this Tribunal, in support of his argument: S.No Particulars/Title of Decision Bench etc. (Citation/Reference No./Order date) Held (Gist in brief) Relevant Para 1. Babbal Bhatia A Bench Delhi ITAT ITA 5430 & 5432/Del/2011 (08/06/2018) Para 19 (Para 14 to 26) 2. Zaheer Abdulhamid Mulani SMC Pune Bench (Before Ms. Sushma Chowla and Shri Anil Chaturvedi) ITA 862/Pun/2017 (31.08.2018) Para 13 3. Latif Ebrahim Patel Mumbai A Bench ITA 7097/Mum/2013 (23.03.2018) Para 7 & Para 8 (Mumbai ITAT decisions in 164 ITD 296 & 160 ITD 605 followed) 4. Shamsher Singh....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ess of transaction. 12. It has been vehemently canvassed by Ld.AR that passbook/bank statement obtained from a bank do not construe "books of account" of assessee, as defined under section 2(12A) of the Act. It is also been proposed by Ld.AR that section 68 of the Act is not applicable, when assessee does not maintain any books of accounts. He, thus, vehemently argued that, provisions of section 68 is applicable, only when, no explanation and/or explanation offered by assessee is not satisfactory, regarding any amount found credited in "books of account" of assessee. 13. Be that as it may, we have carefully perused provisions of section 68. This section starts with words, "where any sum is found credited in the books of an assessee ma....