2016 (7) TMI 1655

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....- 1. On the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in making enhancement of addition made by the Id AO by treating the entire tax credit of Rs.1613588/- as undisclosed income instead of granting relief in respect of additions made by the AO on accounts of peak credit of Rs. 143601/- in the bank account in Oriental Bank of Commerce and Rs.322717/- being 20% of cash deposit of Rs.1613588/- in the bank account in Oriental Bank of Commerce as claimed by the appellant. 2. On the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in issuing directions u/s 150(1) of the l. T. Act to issue notices u/s 148 of the for AY 2008-09, 2009-10 and 2011-12 and to reopen ....

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....icer stating business income of Rs. 27,796/-. The same proved out to be contrary to the stand taken in the lower appellate proceedings that the only source of income apart from interest was salary. The assessee has not filed a copy of its revised return before us along with details of relevant retail business carried out. The CIT(A) went on to observe that the above stated revised statement was not admissible in absence of a revised return. He thereafter reverses Assessing Officer's peak credit + 20% of gross cash deposit amounts to the extent of adding the entire cash deposited of Rs. 16,13,588/- u/s. 68 of the Act. The CIT(A) further directs the Assessing Officer to initiate section 148 proceedings against the assessee as under:- ....

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.... of OBC though he was having no other source of income apart from salary and interest income. The appellant has not been able to produce any evidence in the instant case. The facts and circumstances of the case for the other assessment years is same. The AO is directed u/s 150(1) of the Act to issue notices u/s 148 of the Act for AY 2008-09, 2009- 10, and 2011-12 and to reopen the relevant assessment years and examine the source of cash deposits as per the details given above in para 6.6.1. 6.7.1 In view of the above facts and circumstances, the appellant has not been able to prove the source of the cash deposit in the bank account. The submissions not supported by any evidences are 'make believe' arrangement. Hence, the en....