2025 (4) TMI 1920

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....badkar ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : This appeal filed by the assessee pertaining to the Assessment Year 2017-18 is directed against the order dated 06.12.2024 passed by Addl/JCIT(A)-1, Lucknow which in turn is arising out of the Assessment order dated 13.12.2019 passed u/s.143(3) of the Act. 2. The sole grievance of the assessee is that the ld.CIT(A) erred in confirm....

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....r citizen aged 65 years and owning 7 shops at Ram Complex, Aundh Road, Pune 411 020 and she is receiving rental income of Rs. 50,000/- per month which has been duly offered to tax in the return. She also stated that she had accumulated savings of Rs. 19,30,668/- and also rental income earned from 01.04.2016 to 08.11.2016 which in total is sufficient to explain the source of cash deposit. Ld. AO ex....

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....unsel for the assessee referring to the paper book running into 53 pages and more specifically to the Cash Flow statement placed at pages 49 and 50 of the paper book that if the Cash Flow statement from 01.04.2011 till 11.11.2016 is examined then it can be noticed that there was sufficient cash available with the assessee. Reliance placed on the decision of Coordinate Bench, Bangalore in the case ....

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....turn and also filed Cash Flow statement from 01.04.2011 onwards. Perusal of the Cash Flow statement indicates that assessee was having cash in hand as on 01.04.2011 at Rs. 3,43,750/-. This reconciliation of opening cash in hand is not supported by any evidence since the assessee is not maintaining her books of account and it is just claim made by the assessee on estimated basis. But subsequent to ....