2021 (2) TMI 638

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....arned CIT(A) has erred in law and on facts in deleting the addition of Rs. 56,90,039 /- towards unexplained bank credit entries not explained before, AO, while admitting addition evidence in the form of confirmations, in violation of provisions of Rule - 46A(3) of Income Tax Rules, 1962. 3. In the facts and circumstances of the case, Learned CIT(A) has erred in law and on facts in deleting the addition of Rs. 56,90,039 /- towards unexplained bank credit entries without examining the chargeability of the source of such entries to Income Tax and without giving opportunity to AO to examine the same. 4. In the facts and circumstances of the case, Learned CIT(A) has erred in law and on facts in deleting the addition of Rs. 1,92....

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....000 /- declared by the assessee as income from various miscellaneous works of civil nature for different parties, the addition of Rs. 56,90,039 /-(Rs. 76,90,039 /- - Rs. 20,00,000 /-) was made to the income of the assessee as unexplained income. 4. Aggrieved the assessee filed appeal before the ld. CIT (A). 5. The ld. CIT (A) deleted the addition on the grounds that the entries have been duly explained. 6. Aggrieved with the order of the ld. CIT (A), the revenue filed appeal before us. 7. Heard the arguments of both the parties and perused the material available on record. 8. We have perused the documents and the explanation, the details of the bank entries are as under: S. No. Date Particulars Ch. No. Receipts....

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....th Vihar CGHS Ltd. 404000 Rs. 3,00, 000 /- 22 19.10.2005 Tushar Malik 113008 Rs. 6,00, 000 /- 23 31.10.2005 Tushar Malik 228401 Rs. 23,830 /- 24 03.11.2005 Gautam Kumar 751416 Rs. 8,00, 000 /- 25 03.11.2005 Tushar Malik 228404 Rs. 6,000 /- 26 05.11.2005 GTM Builders & Promoters Pvt. Ltd. 228417 Rs. 8,00, 000 / - 27 10.11.2005 GTM Builders & Promoters Pvt. Ltd. 228424 Rs. 34,650 /- 28 07.12.2005 Tushar Malik 228487 Rs. 50,167 /- 29 31.12.2005 Tushar Malik   Rs. 188 /- 30 05.01.2006 GTM Builders & Promoters Pvt. Ltd. 228574 Rs. 2,00, 000 /- 31 12.01.2006 GTM Builders & Promoters Pvt. Ltd. ....

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..../- - Rs. 20,00,000/- = Rs. 43,84,539 /-). Whereas, the Ld. Assessing Officer has made the addition of Rs. 56,90,039 /- without looking the facts relating to the credit entries in the bank statement. 10. It was submitted that actual credit entries amounting to Rs. 63,84,530 /- consists of the following credits: Date Cheque No Received from Amount 30.05.2005 205964 GTM Builders & Promoters 1,00,000 23.06.2005 205909 -do- 2,00,000 11.08.2005 246775 Ansal Properties Ltd 25,00,000 18.10.2005 404000 The Seth Vihar CGHS Ltd 3,00,000 19.10.2005 113008 GTM Builders & Promoters 6,00,000 03.11.2005 751416 Gautam Kumar 8,00,000 05.11.2005 228417 GTM Build....

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....00 Rs. 17,400 /- 13 11.08.2005 Ansal Properties Ltd. 771068 Rs. 25,00, 000 /- 14 31.08.2005 Tushar Malik 217944 Rs. 11,400 /- 15 14.09.2005 GTM Builders & Promoters Pvt. Ltd. 217959 Rs. 32,400 /- 16 16.09.2005 Tushar Malik   Rs. 2,800 /- 17 26.09.2005 Tushar Malik 217995 Rs. 73,200 /- 18 28.09.2005 Tushar Malik 217998 Rs. 17,000 /- 19 30.09.2005 Tushar Malik   Rs. 31 /- 20 10.10.2005 GTM Builders & Promoters Pvt. Ltd. 227427 Rs. 34,650 /- 21 18.10.2005 The Seth Vihar CGHS Ltd. 404000 Rs. 3,00, 000 /- 22 19.10.2005 Tushar Malik 113008 Rs. 6,00, 000 /- 23 31.10.2005 Tushar ....

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.....11.2005 Cheque Returned 398933 Rs. 2,00, 000 /- 3 06.01.2006 Cheque Returned 398944 Rs. 5,00, 000 / - 4 06.03.2006 Cheque Returned 400137 Rs. 5,000 /- 5 13.08.2005 Cheque Returned 246775 Rs. 500 /-     Totalf B)   Rs. 13, 05, 500 /-     Gross Total(A+ B)   Rs. 76, 90, 039 /- 14. Thus, the major credit entries were of Rs. 55,00,000/- as shown in the table above at para. 15. The entries considered by the Assessing Officer includes bank reversal entries too. The explanation of the credit entries has been examined which are received from Ansal Properties Ltd., The Seth Vihar, CGHS Ltd. and the remaining from flagship company ....