TaxTMI 
TaxTMI 
2021 (4) TMI 1162
X X X X Extracts X X X X
X X X X Extracts X X X X
....by the time the appeal is heard. 3. The learned CIT(A) having called for remand report erred in deciding the appeal without receiving the remand report or might have anti dated the order after receiving the remand report from the AO of Ward 12(2), as the AO has initiated remand proceedings vide letter dated 14-10-2019 addressed to the assessee and collected information. 4. The learned CIT(A) failed to appreciate that the AO in the earlier assessment which is re-opened ujs.148 has accepted the advances after verifying the sources and when advances is received back no more evidence than confirmation from the recipient of advance is enough to prove the credit and thereby erred in confirming the action of the AO in making addition of Rs. 16....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Rs. 14,86,061/- into his Bank A/c maintained with State Bank of Hyderabad. The Assessing Officer obtained the details of the Bank A/c from SBH, Raidurg Branch u/s 133(6) of the Act and also observed that the assessee has two Accounts with the same Branch viz. one Savings Bank A/C in his name and one current A/C in the name of his proprietary concern Sri Lakshmi Motors. The assessee was therefore, asked to explain the cash deposits into these A/Cs along with necessary and sufficient evidence. In response, the assessee submitted 2 cash books i.e. on in the name of proprietary concern explaining the cash deposits in his current A/C and another in his individual name. On verification of the said cash books, the Assessing Officer found that the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ld not conclusively prove the sources of Rs. 14.00 lakhs given by him by way of cheques. Therefore, he treated the negative balance of cash of Rs. 19,55,661/- as unexplained cash credit and brought it to tax. Aggrieved, the assessee preferred an appeal before the CIT (A) who granted partial relief to the assessee by holding that the closing cash balance of the earlier year cannot be tinkered with by the Assessing Officer and that the closing balance of Rs. 4,19,302/- should be accepted as opening balance of this financial year. Thus, he granted relief of Rs. 3,25,302/- 5. As regards the cash receipts of Rs. 31,86,300/- from Smt. G. Surekha, the CIT (A) held that the assessee has failed to prove that there was any agreement of sale with ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s needed to be explained by the assessee. As far as the receipt of return of advance by Smt. G. Surekha is concerned, when summons were issued to her, her husband Shri G. Ratna Rao appeared and submitted the explanation. Therefore, the identity of Smt. G. Surekha is established. As far as the explanation given that the cheques were given in the name of her husband's friend Mr.Mohd Abdul Samad is concerned, I find that it is supported by the Bank statement. It is also established that Smt.G.Surekha is not in any way related to the assessee. Therefore, the confirmation given by Smt. Surekha is to be examined and considered on its own legs. It is to be noted that the assessee has not filed the confirmation of Mr Mohd Abdul Samad, but the cheq....