TaxTMI 
TaxTMI 
2021 (7) TMI 243
X X X X Extracts X X X X
X X X X Extracts X X X X
.... on facts." 2. Briefly, the facts of the case are that the AO observed in the assessment order that as per the information received through AIMS (Actionable Information Monitoring System), the assessee had cash deposits aggregating to Rs. 13,16,304/- into bank account during the demonetization period i.e. 09/11/2016 to 30/12/2016. He observed that in response to the notice issued u/s. 142(1) on 10/03/2018 to the assessee, there was no compliance from the assessee to the said notice. 2.1. Thereafter, the assessee filed return of income for the AY 2017-18 belatedly on 25/07/2019 declaring total income of Rs. 3,84,290/- after claiming deduction under Chapter VIA at Rs. 84,007/-. Since the return filed is non est in law and invalid, the AO is....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ellant after meeting his monthly expenditure of Rs. 18000 to Rs. 19,000 has an average unspent cash every month of about Rs. 6,000 to Rs. 8,000 PM. This is as per the cash withdrawals made for the period July 2014 to January 2015. The CIT(A) has not considered the monthly cash withdrawals subsequent to January 2015 up to the date of cash deposit wherein the average cash withdrawal is about Rs. 27,000 PM up to July 2015 & Rs. 35,000 PM from August 2015 to March 2017. (Copy of the bank statements for the period 1.04.2014 to 31.03.2017 is enclosed. The bank statements were filed before the CIT(A) 2.2 Further, the CIT(A) has also not considered the income of his son which is about Rs. (sic),000 to Rs. 5,000 PM which is also available for inve....
X X X X Extracts X X X X
X X X X Extracts X X X X
....g done by the Appellant. He had also saved/invested money prior to 2014 in chits or otherwise to meet any exigencies. Before the AO, he had submitted that he is been saving money to meet the marriage expenses of his second daughter since 2007. Thus, the savings made from 2007 up to 2014 is also available for the Appellant to meet other financial contingencies like medical and educational expenses of his family members. 3.5 For better appreciation of the merits of the case, credence has to be given to the socioeconomic background of the Appellant and the way the lower social class operates in our country. In rural India and amongst lower social class people informal savings remain popular and one such popular form of saving is investment i....
X X X X Extracts X X X X
X X X X Extracts X X X X
....statement recorded under section 131 of the Act [Q. No 7, Page 6 of the CIT(A)'s order]. The amount was transferred through RTGS to his wife, son, and son-in-law. 3.8 In the light of above facts and human probabilities governing the case such as the Appellant, it is respectfully submitted that the Hon'ble ITAT may be pleased to take judicial notice of facts prevalent in our society particularly in the lower strata. It may be appreciated that such people like your Appellant cannot maintain any account of his financial affairs with evidence to the hilt. The Appellant takes the opportunity to bring to the kind notice of Hon'ble ITAT as held in Fletcher Moulton L.J. in Hawkins v. Powells Tillery Steam Coal Co. Ltd. 1911 (1) KB 988....