2019 (2) TMI 984

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....he AO on account of alleged unexplained cash deposits in Bank Account No. 01630110010983 and 01630100575160. 2. For that the Ld. CIT(A) was not justified in confirming the addition of Rs. 7,25,000/- made by the AO on account of alleged unexplained cash deposits in Bank Account No.01630100023996. 3. For that the Ld. CIT(A) was not justified in confirming the addition of Rs. 1,70,451/- made bythe AO on account of alleged unexplained cash deposits in daily deposit scheme. 4. For that the Ld. CIT(A) was not justified in confirming the addition of Rs. 1,39,386/- made by the AO on account of alleged undisclosed interest income." 2. At the outset itself the Ld. AR did not press revised grounds of appeal nos. 3 and 4 s....

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....ource of deposits amounting to Rs. 35,99,000/- in her bank account nos. 01630110010983 and 01630100575160 with documentary evidence. The Ld. AR in his submission dated 05.08.2013 stated in para 5 of his reply that those deposits were absolutely personal receipts being sale consideration of cows, buffaloes and natural accreted calves in the personal cattle shed of the assessee. Thereafter, the assessee filed 7 affidavits including that of her (the assessee), her husband, son and others. From the copy of the affidavit sworn in on 10.09.2013 by the assessee the AO observed that in para-l0 of the affidavit the assessee has affirmed that she had sold 9 cows for Rs. 4,49,500/- and 5 Buffaloes for Rs. 31,49,000/- aggregating to Rs. 35,99,000/-. Th....

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....le prices of each cows and buffalos seemed to be very high. So the AO in order to ascertain the selling price of cows and buffalos searched the web-site "OLX.in". After the search, the AO observed that many advertisers have given advertisement for sale of the prices and they have offered ranges from Rs. 6,000/- to Rs. 30,000/- depending upon the class of cows. Another site (india.com) which was also searched by the AO and he observed that the prices of cows and buffalos at Erode market, Tamil Nadu, where at least 750 numbers of cows and buffalos were sold on 12th February, 2010, the AO noted that cows were sold at Rs. 12,500/- to 27,000/- (per cow) and buffalos were sold at Rs. 14,000/- to 28,000/- (per buffalo). The assessee was confron....

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....sing out of business cash surplus. As to the monthly sale of the business the Ld. A/R furnished the following figures which are reproduced below:- April, 2010 May, 2010 June, 2010 July, 2010 August, 2010 September, 2010 October, 2010 November, 2010 December, 2010 January, 2011 February, 2011 March, 2011 Total: Rs.2,22,900/- Rs.2,12,600/- Rs.2,18,600/- Rs.2,13,200/- Rs.2,18,800/- Rs.2,19,300/- Rs.3,24,600/- Rs.2,21,800/- Rs.2,10,300/- Rs.2,16,200/- Rs.2,01,100/- Rs.1.85,600/- Rs.26,75,000/- And also since the assess in her affidavit affirmed that she lives in a joint family, she was asked by the AO to state her monthly drawing including her contribution to joint....

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....2,18,800/-, Rs. 2.19,300/- and Rs. 3,24,600/- and total sales of these 3 months comes to Rs. 7,62,700/- and cash deposits into Bank is only Rs. 25,000/- on 07/08/2010 and Rs. 7,00,000/- on 25/10/2010. The total comes to Rs. 7,25,000/- whereas total sales during the year is Rs. 26,75,000/-. No other cash deposit except Rs. 7,25,000/- in her Savings Bank A/c. No. 01630100023996 is seen from the relevant bank statement. So, according to AO, the submission of the assessee in her affidavit that keeping in hand a reasonable amount of cash and that the excess balance was intermittently deposited to Bank cannot be accepted because, according to AO, had the cash been intermittently deposited into Bank, there should have been few more credit entries ....

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....hat there were 70-80 cows and buffaloes maintained by assessee in the cow shed. The relevant assessment year before us is AY 2011-12 i.e. the period between 01.04.2010 and 31.03.2011 and the Inspector has inspected assessee's cow shed and has given his report that he had seen about 70-80 cows & buffaloes on 13.08.2013, which is after one & a half years. In the light of affidavits filed by the assessee and her relatives that they had 41 cows & buffaloes, the assessee's claim in respect of money deposited in her bank account was from the sale of cows and buffaloes cannot be brushed aside as such. However, we note that the assessee was not able to bring evidence to substantiate that assessee had sold her cows and buffaloes in the market, so....