2017 (6) TMI 1351

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.... marriage of two daughter therefore addition of Rs. 7,28,400/- is without any basis and CIT(A) is in error to ignore the same. 2. That the AO has not consider bank withdrawal and considered deposits entries only. Therefore AO as well as CIT(A) both are in error in making and confirm the addition of Rs. 7,28,400/-." 2. I have heard Ld. Representatives of both the parties and perused the findings of the authorities below. 3. Briefly the facts of the case are that as per AIR information received by revenue department, assessee has deposited cash in his bank account in assessment year under appeal totaling to Rs. 17,75,600/-. The explanation of assessee was called for regarding cash deposit. In absence of satisfactory explanation....

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....ssessee was also doing commission business of dealing in generic medicines. The assessee was further directed to file source of amount deposited in the bank account. Assessee further reiterated that cash in the bank was deposited by his three real brothers who have contributed about Rs. 15,00,000/- which was mainly out of agricultural income and other agricultural related work. Details of the same were explained. Credit entries were also explained. Assessee further explained there was debit entry of Rs. 10,00,000/- in his account in the name of Smt. Saroj Saxena which was stated to be on account of agreement to sale purchase of a residential house at Shastri Nagar, Meerut for which payment was already received by the assessee and as per fin....

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.... serving and would not prove anything in favour of the assessee. The assessee has been making deposits in the bank account during the entire year. Therefore, explanation of assessee that amount was contributed by his brother for marriage of two daughter and out of sale proceedings of popular plants etc. has no relevance to the matter because assessee has been continuing in making deposit in his bank account. The source of the bank deposit has not been explained. At one stage assessee explained that withdrawals have been made out of the bank account for the purpose of incurring marriage expenses. When amounts were withdrawn for the purpose of marriage, there is no question of redeposit of the same amount in the bank account of the asses....