2022 (6) TMI 64

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....e file notings reveals that the learned counsel of the assessee had appeared last time on 29.09.2020 only. It is accordingly proceeded ex-parte. 2. The assessee's first and foremost substantial grievance challenges correctness of both the lower authorities' action adding disallowance of Rs. 1,75,27,892/- as unexplained cash payments made outside the books. The CIT(A) detailed discussion upholding the AO's action to this effect reads as under: "5.1 Grounds 1, 2 & 3: This is against the addition of Rs. 1,75,27,892 made by the AO. The facts have been narrated in detail by me. The point of dispute is the source of cash in the hands of the appellant for making the cash payments outside the books. During survey, the loose ....

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.....00 07/05/2012 1200000.00 17/05/2012 1300000.00 The above submissions of the appellant have been examined with regard to the actual loose papers found and impounded. A major discrepancy is observed in loose paper no. 2. The appellant claims that it totals to Rs. 62,00,000 whereas the actual loose sheet is as under: 1.4.12 Cash 20,00,000/- 2.7.12 Cash 5000000/- 5.4.12 Cash 2000000/- 5.4.12 Cash 37,50,000/- 27.4.12 Cash 44,00,000/- 13.4.12 Cash 50,00,000/-   Cash 30,00,000/-     1,88,50,000/- It is evident that the same is titles 'Fund Out Flow' without flow of cash mentioned as Rs. 20,00,000 on 1/4/2012, Rs. 50,00,000 ....

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....e cash withdrawals from the bank from 17/4/2012 to 26/4/2012 are Rs. 45,00,000, while the cash out flow on 27/4/2012 is Rs. 44,00,000. The appellant cannot explain what has happened to the balance Rs. 1,00,000 cash in hand as it is neither entered in the cash, book nor anywhere else in the books of account. Similarly the appellant 'is also not able to explain how he could have spent Rs. 80,00,000 on 13/4/2612 when the bank withdrawals are only Rs. 17,00,000. It should also be kept in mind that the cash physically found as on date of survey was Rs. 4,09,506. In case of other loose papers, there is no date of cash payment mentioned thereon. The appellant is therefore trying to randomly link a particular cash from his bank account to the c....