TaxTMI 
TaxTMI 
2023 (10) TMI 132
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.... account and that too without appreciating the material on record and without observing principles of natural justice and merely on the basis of surmises and conjectures. 4. That in any case and in any view of the matter, action of Ld.CIT(A) in confirming the addition of Rs. 22,52,200/- is bad in law and against the facts and circumstances of the case and without considering the material placed on record and by recording incorrect facts and findings." 4. The Ld. Assessees Representative submitted that the assessee Shri Yogendra Kumar Sharma was a practicing Advocate and after his death on 10.05.2021 this appeal is being pressed through legal heir his wife Smt. Madhu Sharma. The Ld. Counsel submitted that although the Assessing Officer has made addition of Rs. 22,52,200/- on account of cash deposit to the two bank accounts of deceased assessee maintained with Axis bank and HDFC Bank but, in fact, there were total cash deposits of Rs. 18,78,000/- to the said two bank accounts of the assessee and this fact is also clear from the reasons recorded by the AO for initiation of reassessment proceedings, wherein he has noted cash deposits amounting to Rs. 12,67,000/- and the ass....
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....le of plot of Rs. 4 lakhs on 30.04.2018 and remaining amount of Rs. 5 lakhs was agreed to be paid to the assessee within two years from the date of agreement and hence, the assessee received an advance of Rs. 4 lakhs cash against sale of plot. The Ld. Counsel also drawn my attention towards pages 52 to 54 of assessee's paper book, wherein an agreement executed on Rs. 5.00 stamp paper and along with receipt has been placed. He further submitted that under said agreement to sale of plot the assessee also received Rs. 2 lakhs cash on 11.02.2011 from Shri Krishna Kumar Sharma and thus, the AO was not correct in dismissing the contentions of assessee that he received Rs. 6 lakhs from his brother on account of agreement to sale of plot. 7. The Ld. Counsel thus, submitted that when the actual cash deposit to the said two banks was noted by the AO in para 3.2 as Rs. 18,78,000/- then the AO as well as the Ld.CIT(A) was not correct and justified in making addition of much higher amount of Rs. 22,52,200/- without any basis. 8. The Ld. AR thus, submitted that if the amount of professional receipt of Rs. 5,18,500/-, cash withdrawals of Rs. 6,92,500/-, agricultural income of Rs. 70,700/-, ....
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.... deposit to Rs. 18,78,000/- to the said two bank accounts of the assessee. Therefore, I proceed to adjudicate the issue by considering the total cash deposit of Rs. 18,78,000/- to the two bank accounts of the deceased assessee. 13. In the backdrop of above noted factual position, first of all, I note that the Ld. Sr. DR has not disputed that there were cash professional receipt of Rs. 5,18,500/- and assessee also withdraw cash of Rs. 6,92,500/- from the said two bank accounts totaling to Rs. 12,11,000/- in addition to opening cash balance of Rs. 1,30,250/-. The issue remains about the exempt agricultural income of Rs. 70,700/- which has not been allowed by the AO. From para 3.1 of assessment order, I further note that the AO has noted that the assessee has furnished copy of land records dated 04.04.2015 issued by Tehsildar Jewar but he dismissed the same by merely observing that the said document did not contain details of crops grown by the assessee and amount received on sale of crop during FY 2010-11. We are in agreement with the contention of Ld. AR that an amount received by the assessee on sale of crop is never mentioned in the Revenue records and thus, the basis taken by ....
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....assessee undisputedly owning a plot and the assessee entered into an agreement to sale the plot which is brother Shri Krishna Kumar Sharma on 30.04.2010 and received Rs. 4 lakhs cash instantly and remaining amount of Rs. 5 lakhs was to be paid by the purchaser to the assessee within two years from the date of the agreement. In this regard the Ld. AR has relied on the copy of an agreement to sale of plot has been placed on record at pages 52 to 54 of assessee's paper book. The said explanation has been dismissed by the AO by observing that the signature and the writing on the said document was not verified as the assessee has not submitted any other details of Shri Krishna Kumar Sharma proving his identity, genuineness of the transaction and creditworthiness. The AO also dismissed second part of contention of assessee that the assessee on 25.02.2011 has also received cash of Rs. 2 lakhs from Shri Krishna Kumar Sharma and on the similar allegation. The Ld.CIT(A) also dismissed the contention of assessee upholding the conclusion of AO by observing that the assessee has not submitted the identity, genuineness and creditworthiness of Shri Krishna Kumar Sharma. 17. On the other hand, ....