2025 (11) TMI 806

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ther submitted that the Assessing Officer has made the addition of Rs. 8,87,948/- on account of deposit in the bank account of the assessee, whereas the source of the said deposit was already explained by the before the learned CIT(A) by furnishing the bank account statement of the assessee as well as the relevant details of withdrawals by the assessee which was redeposited during the demonetization period. The learned CIT(A) has confirmed the additions made by the Assessing Officer for want of any documentary evidence to establish the genuineness of the transaction whereas the assessee produced all the relevant documents and details to explain the source of the deposits in the bank account. The learned Counsel for the assessee has further submitted that if the delay in filing the appeal is not condoned, the assessee would suffer an irreparable loss as the Assessing Officer has made addition of the entire deposits in the bank account without considering the source of the said deposits as withdrawal from the bank account. He has referred to the medical record of the wife of the assessee and submitted that the assessee was required to keep the cash for medical emergency of the wife a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y the Ld. Commissioner of Income Tax Appeals CIT(A) are without proper considering the evidences and arguments of the Assessee. d. That, CIT(A) erred in confirming the orders passed by the AO, wherein the Assessing Officer has made an addition of Rs. 8,87,948/- which resulted a Tax liability of Rs. 8,71,135/ -. e. That the CIT(A) has erred in passing the Impugned Order dated 19.07.2024 without considering the explanation and evidences given by the Assessee/Appellant herein about the Cash Withdrawals and Deposits made by him. f. That the CIT(A) has dismissed the Appeal filed by the Assessee/Appellant herein on mechanical grounds rather than in the interests of justice. g. That the CIT(A) even after noting the fact that the Assessee/Appellant herein is a senior citizen and his wife is suffering from Cancer and undergoing treatment for the same and the Assessee requires cash in hand in order to meet emergencies, has passed the Impugned Order confirming the addition of the AO. The passing of the Impugned Order by the CIT(A) is mockery the situation of the Assessee/Appellant. h. That, the Appellant herein craves to add/alter/withdraw the grou....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pleted as per the Best Judgement as per the Provisions of Section 144 of the I.T.Act, 1961, considering the material available on record. In response to the said notice the assessee appeared on 15.10.2019 and sought further time to furnish return of income/explanation. Considering the request the case has been posted for hearing on 28.10.2019. However, the assessee appeared on 18.10.2019, filed a copy of the statement of bank account held by him with State Bank of India, BHEL Town Ship, Ramachandrapuram, Sangareddy District vide Account Bearing No. 52190542153 and stated that the sources of funds for the deposits made in his bank account held with APCOB [presently known as Telangana State Co-operative Apex Bank Ltd.] vide account bearing No. 993500360001666 are out of withdrawals of Rs. 5,00,000, made from his bank account held with SBI, BHEL Town ship on 04.03.2016, out of the closure proceeds of Term Deposit. He further stated. that an amount of Rs. 1,00,000/- deposited on 09.08.2016 in APCOB is out of withdrawal of Rs. 1,70,000/- made on 02.08.2016 from the same bank, some other previous withdrawals made from the account and savings made by his wife and daughter. The assessee fu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....2020, we once again submitting the following information: 1. Copy of Assessment Order. 2. Facts of the Case and Grounds of Appeal. 3. Form No. 35 along with Acknowledgment. 4. Copy of Appeal Challan. 5. Supporting documents: Statement showing Cash Withdrawals & Cash Deposits in the Bank, Bank Statements of Accounts APCOB & SBI and Medical Reports of the Assessee wife. 6. Power of Attorney. 11. We further note that the assessee filed these details vide his reply dated 05/07/2024. Earlier also, the assessee filed the details in response to the notice vide reply dated 25/08/2020, the acknowledgement of the same is placed at page Nos. 35 & 36 of the paper book. Thus, from these replies and documents filed by the assessee, it is clear that all the relevant details were available before the learned CIT(A). The assessee has also filed the statement showing the cash withdrawn and cash deposits placed at page No. 20 of the paper book read as under: Statement showing Cash Withdrawls and Cash Deposits in the Bank Date Bank Na Description Withdrawls Deposits Balance Remarks 28-12-2015 SBI Cash Withdrawal ....