TaxTMI 
TaxTMI 
2026 (6) TMI 232
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....ld. AO'). 2. At the outset, I find there is delay in filing of appeal by the assessee before this Tribunal by 18 days. Considering the reasons adduced in the condonation petition, I hold that assessee was prevented from sufficient cause in not filing the appeal in time. In the interest of substantial justice, I am inclined to condone the delay and admit the appeal of the assessee for adjudication. 3. Ground Nos. 3 and 4 raised by the assessee are general in nature and does not require any specific adjudication. 4. Ground No. 1 raised by the assessee is challenging the confirmation of addition of Rs. 17,74,120/- on account of alleged unexplained cash deposits. 5. I have heard the rival submissions and perused the material availab....
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....that before ld AO, the assessee had furnished the complete details of bank accounts held with IDBI Bank and Corporation Bank. The details of bank account with Axis Bank could not be furnished by the assessee before the ld AO as the said Bank account was not in existence as on the date of query raised by the ld AO in view of the fact that the side bank account was closed way back on 01.12.2009. The copy of bank statement was later furnished before the ld CIT(A) together with the evidence of closure of bank account. The same was furnished as additional evidences. The assessee gave the complete details of each withdrawals and each deposit made in the said Axis Bank Account vide written submission dated 02.07.2013. The assessee explained the so....
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....ent for AYs 2005-06 to 2008-09 along with the written submission dated 02.07.2013. The ld CIT(A) admitted all the aforesaid additional evidences and sought a remand report from the ld AO. In the remand proceedings, ld AO sought to examine the affidavits given by various parties. Accordingly, statement was recorded on oath on 12.12.2013, wherein, all the persons admitted the fact of advancing of money to the assessee out of their respective agricultural income. However, the actual date of advancing of money could not be explained by them. Further, Shri Ram Kumar Singh Gurjar and Shri Jagdish Singh Baghel submitted that they had paid Rs. 1,01,000/- and Rs 1,00,000 respectively to the assessee on account of insurance premium for onward transmi....
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....dence the family partition, mentioning the name of the family members who would be beneficiary of the partition. The evidence in this is enclosed in page 50 of the paper book. Khasra and Khatoni for evidencing the agricultural activities are enclosed in pages 53 to 71 of the paper book. 11. In view of the above facts, I hold that the entire cash deposits made in the sum of Rs. 19,16,867/- stand fully explained. Accordingly, the ground No. 1 raised by the assessee is allowed. 12. Ground No. 2 raised by the assessee is challenging the ad hoc disallowance of expenses of Rs. 80,778/- against the insurance business income. 13. I have heard the rival submissions and perused the material available on record. The assessee has claimed expen....