TaxTMI 
TaxTMI 
TaxTMI 
2020 (1) TMI 289
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....case are that the AO noticed that the assessee has deposited cash of Rs. 13,08,050/- in his savings bank account with ICICI Bank during the assessment year under consideration. It was explained by the assessee that he has not deposited the said amount of Rs. 13,08,050/- in his savings bank account with ICICI bank. He has also claimed that he had not opened this savings bank account in ICICI bank and the account has been opened by the person named Shri Kalpesh P. Prajapati. He has also furnished the bank account opening for savings bank account and the copy of complaint filed against Kalpesh P. Prajapati in the Office of superintendent of Police, Navsari. In reply to notice u/s.133(6), the bank has stated that this said controversial bank ac....
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....ed the matter before the CIT(A). However, wherein same facts were repeated, the AR of the appellant also filed a copy of mutual agreement between the appellant and Kalpesh dated 04-01-2016 wherein reference of initial complaint dated 29-10-2015 is mentioned. In view of this, the CIT(A) observed that the police complaint and mutual agreement only prove that the appellant is not at all unaware of Kalpesh Prajapati. As the bank bank account in the name of the appellant which is not proved as forged and appellant's mutual settlement proves his involvement. Therefore, the AO has rightly taxed the cash deposits in the said bank account in the appellant's hand. Accordingly, the addition was confirmed. 5. Being aggrieved, the assessee filed this ....
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.... by the assessee that Shri Kalpesh P. Prajapati has misrepresented facts and misused his bank account. However, it is subjudicious as the Kalpesh P. Prajapati who was related on bail has not fulfilled the terms and conditions of his bail. It is apparent from the High Court order that Shri Kalpesh Prajapati has accepted the liability on account of cash deposits in the said bank account. However, we find that the bank account stands in the name of the assessee and the assessment has made in the name of the assessee. Therefore, on technical ground the income is being considered the cash deposits in the hand of the assessee which would not be influenced to the findings in the complaint filed by the assessee against Shri Kalpesh P. Prajapati. We....