TaxTMI 
TaxTMI 
TaxTMI 
2025 (10) TMI 767
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....ing grounds: "1. Whether on facts and circumstances of the case and in law, the CIT(A) erred in deleting the addition of Rs. 1,13,49,338/- on account of cash deposits without appreciating the fact that during assessment proceedings, the assessee, herself, admitted that out of total sales (net) of Rs. 1,28,16,662/- of the Firm M/s R.P. Pharma, the sale other than in cash was Rs. 1,18,58,000/- and the rest of Rs. 9,58,662/- was in cash. 2. Whether on facts and circumstances of the case and in law, the CIT(A) erred in deleting the addition of Rs. 1,13,49,338/- on account of cash deposits without appreciating the fact that the cash receipt during the F.Y. 2016-17 was shown at Rs. 9.58,662/- and the cash deposits in bank accoun....
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.... Summary of Sales of F.Y. 2016-17 which is reproduced as under :- R.P. Pharma B-1/184, Sector-G, Aliganj, Lucknow Summary of Sales of F.Y. 2016-17 PARTICULARS AMOUNT Total Sale 1,35,25,909.42 Less: Sale Return 21,821.00 Output VAT 6,87,426.32 Net Sales 1,28,16,662.10 Less: Sale other than in Cash 1,18,58,000.00 Net Cash Sale 9,58,662.10 Hence it is evident that the assessee has only Rs.9,58,662.10 as cash receipt from Sales. Thus it is corroborated that the cash deposits over and above Rs.9,58,662.10 are from unexplained sources and accordingly remained as unexplained. (C) During the assessment proceedings the assessee had claimed that an amount of Rs.....
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.... order dated 09/05/2024, the learned CIT(A) deleted the entire addition of Rs. 1,13,49,338/-; accepting the assessee's explanations regarding cash deposits made in the banks out of cash sales in proprietary firm M/s R. P. Pharma, gift received in cash from father; and old savings. The relevant portion of the order of learned CIT(A) is as under: 6.3 I have carefully considered the written submission of the appellant and the facts of the case. The appellant has furnished all the bank accounts in which cash has been deposited alongwith the ledger accounts. The appellant has submitted that during the year under consideration the she has made total sales of Rs. 1,35,25,909.42 out of which sales returns are Rs. 21821/- and Output VAT is ....
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....force in the contention of the appellant that the cash deposits of Rs. 1,18,58,000/- and Rs. 3,50,000/- totaling to Rs. 1,22,08,000/- have been made out of the cash sales of medicine. 6.4 Further, an amount of Rs. 30,80,000/- has been deposited in cash in the Allahabad Bank Account. Out of which Rs. 30,00,000/- was declared in the IDS, 2016 and the credit of the same has been allowed by the Assessing Officer in the assessment order. The remaining of Rs. 80,000/- deposited in the Allahabad bank account was added back to the income of the appellant by the Assessing Officer being unexplained. During the appellate proceeding, the appellant has submitted that these deposits were made during the demonetization period out of savings. Look....
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....f notice dated 02/08/2019 again DIN ITBA/AST/F/142(1)/2019-20/1017167480(1) 13. Copy of reply dated 08/08/2019 against notice dated 02/08/2019 14. Copy of notice dated 19/08/2019 again DIN ITBA/AST/F/142(1)/2019-20/1017449177(1) 15. Copy of reply dated 24/08/2019 against notice Dated 19/08/2019 (D.1) At the time of hearing before us the learned A.R. for the assessee relied on the impugned order of the learned CIT(A). He further relied on the paper book referred to in foregoing paragraph (C) of this order. (D.2) The learned D.R. relied on the assessment order. (D.2.1) We have heard both sides. We have perused materials on record. We find from the perusal of the assessment order that the assessee did not produce any....
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....lanation regarding the remaining amount of Rs. 1,08,99,338/-. Therefore, the aforesaid addition of Rs. 1,08,99,338/- is confirmed. As regards the remaining amounts of Rs. 20,000/- (claimed to be gift received by the assessee from father, in cash) and Rs. 80,000/- (claimed by the assessee to be out of old savings), the order of the learned CIT(A) is found to be reasonable and just in the facts and circumstances of the case. Considering the fact that the assessee is a doctor and also proprietor of M/s R. P. Pharma, it can be said that the assessee is not of ordinary means. It is also common in Indian households that the ladies regularly make some savings out of funds earmarked for house hold expenses, and such savings are accumulated over tim....