AI Drafter 
TaxTMI 
TaxTMI 
2022 (10) TMI 753
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....situation of Covid-19 Pandemic. 3. The brief facts of the case are that the assessee is engaged in the profession of advocacy and he filed his return of income on 30/03/2015 declaring total income of Rs. 1,98,900/-. The case of the assessee was selected for scrutiny and various statutory notices were issued and served upon the assessee and finally the assessment was completed U/s 143(3) of the Income Tax Act, 1961 (in short, the Act) on 18/03/2016 by assessing total income of the assessee at Rs. 21,48,900/- by making addition of Rs. 19.50 lacs. 4. Being aggrieved by the order of the A.O., the assessee carried the matter before the ld. CIT(A), who after considering the submissions of both the parties and material placed on record, given part relief to the assessee. Against the said order of the ld. CIT(A), the assessee has preferred the present appeal before the ITAT on the grounds mentioned above. 5. Grounds No.1 and 2 of the appeal raised by the assessee relates to challenging the order of the ld. CIT(A) in sustaining the addition. In this regard, the ld. AR appearing on behalf of the assessee has reiterated the same arguments as were raised before the ld. CIT(A) and also....
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....onour not showing any cash amount in the Return of income for A.Y. 2012-13 as alleged by Ld AO is not understandable as the assessee is to declare the cash of business only and there is no requirement to declare personal cash balance for the assessees having meager income. Moreover the bonafide mistakes in filing the Return of income cannot be used against the assessee without bringing any contrary material on the record. Copy of the bank a/c for the F.Y. 2011-12 is submitted herewith. Apart from above Rs. 3,25,500/- the assessee was having Rs. 3,74,500/- in cash out of his saving and incomes for 31 years. It is therefore clear that the assessee was having opening cash balance of Rs. 7,00,000/- and the assessee should be given a credit of Rs. 7,00,000/- to explain the cash peak deposit balance of Rs. 15,25,000/-. Your honour assessee received a sum of Rs, 12,50,000/- from Shri Gaurav Singh S/o Shri Vijaypal Singh Tanwar Banethi vide agreement to sale of plot. This amount was received on 09/05/2012 Rs. 6,50,000/- and Rs. 6,00,000/- was received on 13/06/2012. This agreement was not registered, and was also cancelled later. Ld AO rejected the expla....
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....he paper book, copy of cash book for the period from 01/04/2012 to 31/03/2013 which is at page No. 8-13 of the paper book and the copy of sale agreement between Gaurav Singh and Uday Singh i.e. the assessee which is at page No. 14-15 of the paper book. The ld. AR also submitted with regard to cash balance that the assessee is an advocate and is assessed to the income tax since last so many years. It was also submitted that he was living in the joint family with the all family members and had declared income for some years which are depicted in the chart submitted by the assessee as under: - It was further submitted that the assessee had also made withdrawals from the same bank account for the year under consideration and the details of the withdrawals have also been depicted in the chart submitted by the assessee as under: From the above chart, it was pointed out that the assessee was having a cash balance of Rs. 3,25,500/- as on 31/03/2012 out of bank withdrawals etc. Thus, the ld. CIT(A) had rightly relied upon the said contention of the assessee and had deleted the additions to the tune of Rs. 3.25 lacs by holding that a sum of Rs. 3.25 lacs out of opening account is treat....
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....hri Vijaypal Singh Tanwar Banethi has admitted the factum of making payment to the assessee. However, the lower authorities rejected the contention of the assessee merely by holding that the assessee has not placed on record any proof that on cancellation of said deal, the assessee had returned the said amount to said Shri Gaurav Singh S/o Shri Vijaypal Singh Tanwar Banethi. However, we are of the view that the assessee had duly discharged his onus of proving the deposit of Rs. 12.50 lacs in the bank account as he has categorically submitted that the assessee had received the said amount from Shri Gaurav Singh S/o Shri Vijaypal Singh Tanwar Banethi towards sale of his plot to the said purchaser and the A.O. had not even enquired or carried out any enquiry with regard to factum of said categorical stand taken by the assessee by calling or recording the statement of Shri Gaurav Singh S/o Shri Vijaypal Singh Tanwar Banethi. Thus, in our view, the stand taken by the assessee went unrebutted as the A.O. who is investigator has failed to carry out any investigation to disprove the categorical stand taken by the assessee supported by documents. Thus, in our view, the said amount of Rs. 12....