TaxTMI 
TaxTMI 
2024 (6) TMI 1554
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....firming the issue of notice u/s 148 is bad in law. c) Notwithstanding the above said ground of appeal, the Ld. CIT (A) has erred in confirming the addition of Rs. 2,12,96,000/- as unexplained cash deposit u/s 69 in the income of the assessee. 2. a). That the Ld. CIT (A) has failed to appreciate the fact that the lady is at present 91 years of age and is bed ridden and has no other source of income and the amount was deposited by her in her Saving Bank Account out of sale of agricultural land. b). That the Ld. CIT (A) has failed to appreciate that there is nexus of deposit of amount in the Saving bank account of assessee viz- the sale of agricultural land and has failed to take into consideration that fact. 3. a). Notwithstanding the above said ground of appeal, the Ld. CIT (A) has failed to appreciate that the land belonged to the HUF of her husband and being an ancestral land the same could not have been assessed in the individual status of Smt. Tej Kaur and, thus, the reassessment proceedings are liable to be quashed. b). That the Ld. CIT (A) has ignored the documentary evidence of Kursinama filed during the course of assessment p....
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....f income had been filed and, as such, he formed a reason to believe that the income of the assessee has escaped assessment and accordingly, he recorded the reasons, dated 18.03.2019 (which has been placed in PB-I, pages 1 to 2 filed by the assessee) and notice u/s 148 issued accordingly. 6. In response to notice u/s 148, the assessee filed her return of income on 28.04.2019, though, the assessee had already filed the original return on 31.03.2017 (as per copy placed at pages 4 to 5 of the Paper Book), which the AO, treated invalid. It has been argued by the Ld. AR of the assessee, that the 'ancestral agricultural land' was transferred in the name of assessee after the death of her husband on 30.12.1991, (death certificate copy filed in page -8 of PB), and, thereafter, the land was transferred in the name of Smt. Tej Kasur (assessee). It was also pointed out that Smt. Tej Kaur have five daughters. 7. It was contended by the Ld. AR that the source of cash deposit was out of sale proceeds of the ancestral agricultural land and the lady has no other source of income except agricultural income and with regard to initiation of proceedings u/s 148, it has been argued that the Assess....
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....of income of the assessee and, thus, the amount, which have been deposited as cash is out of sale proceeds of ancestral agricultural lands, and, further, it has been brought to our notice that the amount as deposited in the Saving Bank account have been withdrawn in entirety and given by the assessee lady to her five daughters, who had purchased further agricultural lands out of the amount so received, from their mother. The Ld.AR invited our attention to the order of CIT (A) where by way of written submissions, as reproduced at pages 4 to 5 of the order of CIT(A), in which, it has been contended that the further agricultural land had been purchased in the names of members/coparceners of the HUF, after the sale of land and for that a separate Paper Book-II, had been filed before us and wherein, our attention was drawn to the fact that in the cases of daughters of the assessee, verification of financial transactions was undertaken by the respective assessing officers, to which, the daughters of Smt. Tej Kaur (assessee) have replied . Smt. Sukhjit Kaur, Smt. Jasvir Kaur, and Smt. Charanjit Kaur, the daughters of the assessee, explained that they have purchased further agricultural la....
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....filed and relied upon by the Ld. AR during the course of hearing. The facts are undisputed that there has been cash deposit in the bank account of old lady to the tune of Rs. 2,78,60,000/- on 28.02.2012 and, though, it was stated by the lady in reply to notice u/s 133(6), that the said amount of cash deposit was out of sale proceeds of ancestral agricultural land, inherited by the assessee after the death of her husband and the Assessing Officer and CIT (A) have only given the benefit of amount of sale as recorded in the registration deed, which is to the tune of Rs. 65,64,000/- only, and had not accepted the contention of the assessee that cash has been received, over and above the registered sale amount from the sale of ancestral agricultural land by the assessee. 15. It is also undisputed that the lady is 91 years (ninety one years) of age and have no other source of income at all except agricultural income and there is close nexus to the sale of inherited agricultural land and the deposit in the bank account of the assessee and further to that, there is force in the arguments of the Ld. Counsel that in the case of daughters of assessee, due enquiries were made abou....
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....ore the Ld. CIT (A) the assessee produced sale deed as well as bank account and also detailed submission in respect of the source of cash deposit made in the bank account. The Ld. CIT (A) called for remand report wherein the AO has pointed out that the sale deed dated 08.04.2009 shows the sale consideration of Rs. 6,45,000/-. The Ld. CIT (A) has consequently allowed the claim of the assessee only to the extent of Rs. 6,45,000/- as stated in the sale deed. The bench has raised a query about the discrepancy in the name of mentioned in the sale deed and the name of the assessee appearing the other records. The Ld. AR has pointed out that the assessee Shri Pappu Ram is also Known as @ pappu Ram. Thus, in the sale deed of the name of the assessee appearing in the sale deed alias name of the assessee. The AO has also not disputed the fact that the assessee is one of the joint owners of the land which was sold vide sale deed 08.04.2009. We further note that the cash of Rs. 27,50,000/- was deposited in the bank account of the assessee with Oriental Bank of Commerce, Kishangarh on 09.04.2009. The date of cash deposit is subsequent to the date of sale deed dated 08.04.2009 whi....