2021 (3) TMI 715

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.... made by the assessee in Seva Vikas Cooperative Bank (Savings Account No. 007260) not disclosed by the assessee in its return of income. 4. The factual scenario of the case is that the assessee filed his return of income on 27-09-2008 for which the assessment was completed on 24-10-2010. Later, the AO came to observe that the assessee had maintained two bank accounts maintained with Seva Vikas Cooperative Bank, Pimpri, Pune having numbers S.B. A/c. Nos. 7260 and 8638, which were not disclosed in the books of accounts. Taking recourse to sec. 147 of the Act, he issued notice u/s. 148. On being called upon to explain the source of deposits in these accounts, the assessee submitted qua S.B. A/c. No. 7260 that transactions in respect of its un....

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....f income. This claim could have been merited acceptance if the assessee had shown the list of persons and their confirmations etc. for whom he did the transportation business and the resultant transportation receipts. No such evidence has been placed on record. In such a scenario, it is difficult to accept the assessee's plea of running a transportation business outside books of account and depositing the proceeds of such a business in this bank account. It is pertinent to mention that similar plea taken by the assessee for the assessment years 2009-10 and 2010-11 was also discarded by the Tribunal, copies of which orders have been placed on record. Respectfully following the precedent, we dismiss the grounds taken by the assessee qua S....

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.... was his share in the sale of plot of land by his father. The assessee also placed on record a copy of return filed on behalf of his father for the assessment year 2008-09, indicating the disclosure of the factum of the sale of the plot, a copy of which has been placed at page 169 of the paper book. Such return was filed on 20-04-2009 and a copy of assessment order passed on 27-12-2010 has also been placed on page 145 of the paper book. These facts evidence that the father did sell certain property and the amount of proportionate capital gain was offered in the return of income. When such material was placed before the AO and the assessee contended that the bank account was maintained jointly with his brother, then it became the duty of the....