TaxTMI 
TaxTMI 
2024 (5) TMI 289
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....tion of the Assessing Officer has erred in making addition of Rs. 17,09,000/- o n account of cash deposit in bank account treated as alleged unexplained income. 3. On the facts and in the circumstances of the case as well as the law on the subject, the learned Commissioner of Income Tax (Appeals) has erred in confirming the action of the Assessing Officer has erred in making addition of Rs. 17,09,000/- without issuing valid show cause notice for making such alleged addition to return income. 4. On the facts and in the circumstances of the case as well as the law on the subject, the learned Commissioner of Income Tax (Appeals) has erred in confirming the action of the Assessing Officer has erred in initiating penalty proceedings u/s 271(1)(c) r.w.s. 274 of the Act. 5. It is therefore prayed that the above addition may please be deleted as learned members of the tribunal may deem it proper. 6. Appellant craves leave to add, alter or delete any ground(s) either before or in the course of the hearing of the appeal." 2. At the outset, Learned Authorized Representative (Ld. AR) of the assessee informs the Bench that assessee does not wish to press ground No. 1; therefore, we dis....
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....igher than cash deposited in the bank accounts and the cash was deposited out of cash withdrawals only. In response to notice u/s 250 of the Act, the assessee filed written submission, wherein he stated that he is an agriculturist and he derived agricultural income from ancestral property of about 38 binghas situated at village Junvani, Taluka Baroli and village Nagod, Taluka Kamrej. He submitted proof of land holding i.e., 7/12 and 8/A and also filed copies of bank statements and summary of cash deposits as well as cash withdrawals. He further stated that he had shown agricultural income of Rs. 9.24 lakh during the year under consideration. He also furnished documentary evidence, giving name, address, etc., of the parties to whom agricultural produces were sold. He stated that though the names of his uncle, and cousin are appearing in 7/12 abstracts that they are staying in USA since long. Therefore, only he and his father are carrying out the entire agricultural activities and entire agricultural income from such activities was earned by them. He further stated that he had withdrawn of Rs. 26,51,000/- from bank against which deposited was only of Rs. 22,38,800/- and that the with....
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....s, the assessee stated that he has received agricultural income directly in his bank account on 01.06.2011 Rs. 11,62,170/- and on 03.10.2011 of Rs. 9,31,770/- from Sugar Mandali, Bardoli. The assessee's father Shri Somabhai Bhaulabhai Patel is member of Shree Khedut Sahkari Khand Udhyog Mandali Ltd., Baben, Bardoli since last 26 years. He is aged 76 years and is not active in looking after agricultural activities. The assessee is looking after the agricultural activities and is keeping said income. The assessee further stated that he has withdrawn of Rs. 26,51,000/- out of agricultural income credited in his bank account and has deposited Rs. 22,38,800/-. Thus, the cash withdrawals were made before the date of cash deposit. Since there is no evidence that cash withdrawal was used / utilize elsewhere, it cannot be said that cash deposited in the subsequent period was not made out of the said withdrawals. The assessee also submitted that no proper opportunity of being heard was given to the him during assessment proceedings. All details were submitted under e-proceedings on e-filing portal as well as hard copy of submission was manually filed in the office of AO. However, without con....
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....se laws relied upon by the assessee. He has relied on the submission made before AO and the Ld.CIT(A) during assessment and appellate proceedings. The submissions have already discussed in the facts of the present case mentioned above in the body of this order. The Ld.AR has stated that the assessee is an agriculturist and he has no other source of income. The land from which the agricultural income was earned are ancestral agricultural land of nearly 38 binghas situated at village Junvani, Tal. Bardoli and village Nagod, Tal. Kamrej 7/12 and 8A abstracts are at pages 5 to 12 of the paper book. The certificate for agricultural income is given at page 12 of the paper book. It is seen therefrom that in the seasonal year FY 2011-12 Shri Somabhai Bhulabhai Patel, father of the assessee, has supplied sugarcane of 1891.740 metric tonne worth Rs. 57,11,941.96; for seasonal year FY 2012-13 he had supplied 1366.140 metric tonne of Rs. 48,06,716.40. In the subsequent seasonal years, FYs 2013- 14, 2014-15 and 2015-16 he had supplied 1066.995, 1239.985 & 386.870 metric tonnes of sugarcane respectively, the value of which were Rs. 32,97,628.73; Rs. 31,30,168.05 and Rs. 11,94,954.04 respectively....
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....income claimed by the assessee is justifiable on the facts and circumstance of the case as narrated above. It is a fact that there are 6 other members in the family of assessee. Therefore, it cannot be said that the assessee was the owner of all the agricultural land of 38 binghas and the entire agricultural income belonged to him. The Ld. AR for the assessee stated that uncles and cousins of the assessee are staying in USA and only the assessee and his father carried out agricultural activities. Even if uncles and cousins are staying in USA, then also it cannot be accepted that the entire agricultural income was earned only by the assessee and he retained the same. No confirmation or affidavit of his uncles and cousins staying in USA has been given to support the claim of appellant that agricultural income legally earned by them was given up in favour of the appellant. The assessee has also not furnished any details of the ITR and other supporting evidences to show that the income of his father was diverted to him. He has not even given the affidavit or confirmation of his father in support of such claim. Therefore, the explanation of the assessee that the entire agricultural inco....