2019 (3) TMI 481

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....ar 2008-09 with the following grounds: 1.1 "The order passed u/s.250 on 11-08-2014 for A.Y.2008-09 by CIT(A)-XVI, Abad upholding the addition of Rs. 8,60,549/- as unexplained investment u/s.69 made by AO is wholly illegal, unlawful and against I the principles of natural justice. 1.2 The Ld. CIT(A) has grievously erred in law and or on facts in not considering fully and properly the submissions made and evidence produced by the appellant with regard to the impugned additions. 2.1 The Ld. CIT(A) has grievously erred in law and on facts in confirming the addition of Rs. 8,60,549/- out of cash deposits in bank account made by appellant's wife-Mrs. Richa Sharma, 2.2 That in the facts and circumstances of ....

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..... Richa Sharma opened such account in the year 2001 and only in the year 2003, the assessee joined the same as the second holder of the account. It is the case of the assessee that the assessee's wife deposited the money in the said account out of her past savings and cash withdrawals out of her past earnings from salary, tuition income, interest income, receipts of various social function, sale of jewellery etc. The opening cash balance of Rs. 6,90,530/- as on 01.04.2007 was reflected in her cash book. The pay-in-slips and cheques as obtained from the Bank by the Assessment Officer revealed that most of the instruments were bearing the signature of the assessee. The Learned AO on the basis of such documents came to a conclusion that the tr....

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....s. 1,60,000/- was deposited by the wife of the assessee. He, further relied upon two judgments passed in the matter of Nemi Chand Kothari-vs-CIT [2004] 136 Taxman 213 (Gau.) and Sumati Dayal-vs-CIT [1995] 80 Taxman 89/214 ITR 801 (SC). According to him, it is evident from the records that the assessee nowhere manipulated by hiding his income and therefore he prayed for deletion of addition made by the authorities below. On the contrary, the Learned DR relied upon the orders passed by the authorities below. 5. We have heard the respective parties, perused the relevant materials available on record. The documents namely the Bank Statement of the wife of the assessee, cash book and cash flow statement along with other documents annexed to t....