2024 (6) TMI 211

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....ER MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER This appeal by the assessee is directed against the order of the Additional/Joint Commissioner of Income Tax (Appeals)-1 Visakapatnam (hereinafter referred as "CIT(A)"), dated 5-1-2024, for the assessment year 2017-18, whereby the CIT(A) upheld the addition made by the Assessing Officer (hereinafter referred as "AO") under section 69A of the Income Tax....

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....for the purpose of renovation of house. In support of this contention, the assessee filed affidavits from his father and mother before the AO. However, the AO was not satisfied with the explanation and proceeded with the addition. 4. The CIT(A) upheld the order of the AO without giving due consideration to the affidavits and the explanation provided by the assessee. The CIT(A) did not appreciate ....

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....n, justification & supporting documentary evidences furnished by the assessee. 4. The appellant craves leave to add/alter any of the grounds of appeal before or at the time of hearing. 6. We have heard the rival submissions and perused the material available on record. It is observed that the affidavits submitted by the assessee's parents were not given due weightage by the lower authorities. T....

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.... of cash deposits, were disregarded without any substantial counter evidence. 9. Moreover, the Gujarat High Court in Ranchhodbhai J. Thakkar v. CIT [2003] 263 ITR 679 (Guj) has held that when the assessee provides a plausible explanation supported by affidavits, it is the duty of the revenue to conduct proper verification before making any adverse conclusion. In the present case, neither the AO n....