2019 (11) TMI 1630

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....Government undertaking. He filed his return of income on 1.9.2010 showing total income at Rs. 3,49,624/-. The same was processed under section 143(1); however, the case of the assessee was selected for scrutiny assessment as per CASS and issued and served notice under section 143(2) of the Act. On the basis of AIR information received, it revealed to the Department that assessee has deposited cash of Rs. 25,30,000/- in his saving bank account no.20045821969 with State Bank of iNdia, Civil Hospital, Ahmedabad. The ld.AO called for bank statement from the bank, and he noticed the cash deposits in the assessee's account as under: Date Amount deposited Remarks 09/10/2019 25,00,000 Cash deposited 09/10/2019 - Rs. 12,00,000 withdrawal by....

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....nk balance certificate, bank staff helped by showing a book entry in the saving bank account of the assessee, and in order to neutralize the same, bank asked assessee to issue cheques for Rs. 12.00 lakhs and Rs. 13.00 lakhs for which assessee issued two cheques on 9.10.2010. In fact, there were no cash transactions but only an arrangement by book entries by the bank officials. The ld.CIT(A) has considered all the aspects of the issue, and in the absence of any evidence, find no merit in the contentions of the assessee. The ld.CIT(A) confirmed the impugned addition. Still aggrieved, the assessee is now before the Tribunal. 5. Before me, the ld.counsel for the assessee reiterated submissions made before the ld.Revenue authorities, while the ....