TaxTMI 
TaxTMI 
2019 (11) TMI 1370
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....Both these appeals filed by the assessee are directed against separate orders of CIT(A) - 1, Hyderabad, both, dated 01/03/2018. 2. Brief facts of the case are that the assessee, an individual, did not file any return of income for the relevant AYs under consideration. The AO received information from ITO (Inv-1), Hyderabad that the assessee had made huge cash deposits of Rs. 83,78,700/- in to ba....
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....n his bank account as he is the only the male member of his family. He submitted that total extent of land of his family was 58.30 acres and in support of his submissions, he filed Pattadar Pass Books for the agricultural holdings held by self and family members, Bank account statements of Axis Bank and transactions narration sheets for the relevant period. 2.2 The AO, however, accepted the reas....
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....sources and brought the same to tax. 3. Aggrieved, the assessee preferred appeals before the CIT(A) for both the years under consideration and the CIT(A) confirmed the orders of AO and consequently, the assessee is in appeal before us. 4. Ld. Counsel for the assessee reiterated the submissions made before the revenue authorities and the ld. DR supported the orders of authorities below. 5. Ha....
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.... explained. 5.1 After going through the bank account statements, we find that assessee has been making cash deposits and also making corresponding cash withdrawals. Therefore, the contention of the assessee that the gross receipts from the agricultural operations were deposited, withdrawn and redeposited cannot be brushed aside in toto. The AO has relied upon the statement of the assessee record....