TaxTMI 
TaxTMI 
2022 (10) TMI 225
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.... pertaining to the Asst.Year 2011-12. 2. The ld.counsel for the assessees pointed out before us that the assessees are related as spouses and the issue involved is interlinked and co-related addition being made in both the cases on account of cash found deposited in their joint bank accounts. The ld.counsel for the assessee stated that primary pleadings and arguments against the additions made was that it tantamounted to duplicate addition since cash deposited related to only one bank account ,each in HDFC Bank and Dena Bank, jointly held in the names of both the assesseess, while the Revenue had held that there was separate bank accounts in relation to which addition of cash found deposited had been made in the hands of both the assessee.....
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....(A) along with the details of cash deposited therein, which he pointed out was reproduced at page no.3 of the ld.CIT(A) as under: Sr No Name of Bank Account No Date of deposit Amount in Rs 01 HDFC Bank Borsad 07491930000591 joint account with wife Yaminiben Bhatt 04/02/2011 90000/- 02 HDFC Bank Borsad 07491930000591 joint account with wife Yominiben Bhatt 08/02/2011 500000/- 03 HDFC Bonk Borsad 07491930000591 joint account with wife Yaminiben Bhatt 16/02/2011 500000/- 04 Deno Bank 00641002153 joint account with wife Yaminiben Bhatt 05/07/2010 100000/- 05 Deno Bank 00641002153 joint account with wife Yaminiben Bhatt 08/07/2010 800000/- 06 Dena Bank 00641002 153 joint account with wif....
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....ition of Rs.26,90,000/- in the case of the appellant Shri Sanatkumar H Bhatt is on account of cash deposit of Rs.10,90,000/- in HDFC Bank account no.70370600000131 and of Rs.16,00,000/- in Dena Bank account no.70386500000235 (held jointly with Yamini S Bhatt). Thus it is seen that the bank accounts no. in the case of Shri Sanatkumar H Bhatt and Smt. Yamini S Bhatt are different and accordingly the issues of cash deposits are separate, distinct. Moreover, it is categorically mentioned in the assessment order in the case of the appellant that the AO has obtained the bank statements from the banks u/s. 133(6) of the Act. Prima facie there is no case of double taxation of the same amount and also the appellant and his Ld. AR and the appellant&#....
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....om the bank stating that with respect to the other two set of bank accounts in HDFC and Dena Bank, no such accounts was maintained by the Banks. He drew our attention to this certificate placed in the PB page no.21 and 22. He thereafter pointed out the facts of the case stating that the assessee, Shri Sanatkumar H. Bhatt and his wife were senior citizens who had moved to America way back in 1998 and they had two bank accounts jointly held in their names in HDFC Bank and Dena bank, and there were no other bank accounts operated by them. He pointed out that even the cash found deposited by the AO on different dates in both the cases tallied with the deposits in one set of bank accounts only belonging to the assessee, and his wife. He therefor....
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....low. 8. We find that the ld.counsel for the assessee has fairly made out a case before us that the issue of addition in the hands of both the assessee of cash deposit in Banks needs further inquiry and investigation to be conducted. The finding of fact by the Ld.CIT(A) that there existed two separate sets of joint bank accounts of the assesses in HDFC Bank and Dena Bank, on the basis of which separate additions of cash deposit of Rs31,90,000/- and Rs.26,90,000/- have been made in the hands of both the assesses, cannot be said to be conclusively established and found. The assessee has placed before us certificates issued by both the banks disclaiming the existence of Bank accounts which the Revenue had alleged belonged to the assesses. The ....
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....atives in India by transferring to them through Western Union and had substantiated the explanation by producing documents evidencing transfer of money by the assessees through Western Union. Even these evidences have not been properly appreciated by the authorities below. The assessees had stated to the authorities below that both of them were senior citiziens and had moved to USA way back in 1997-98.That they used to come to India only for brief visits. That on requests from relatives they had on several occasions transferred money to them through Western Union. And when they visited India briefly in the impugned year, in January - February 2011, these relatives returned back some of the money earlier lent to them in cash which was deposi....