TaxTMI 
TaxTMI 
2025 (4) TMI 2155
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....law, the Ld. NFAC/CIT(A) erred in rejection the additional evidences filed during the course of appellate proceedings. 4. Addition of Rs. 17,25,000/- u/s 68 The Ld. NFAC/CIT(A) erred in making the addition of Rs. 17,25,000/- u/s 68 as unexplained cash credit without appreciating the facts and circumstances of the case. 5. Disallowance of Rs. 1,25,000/- u/s 37 The Ld. NFAC/CIT(A) erred in making disallowing Rs. 1,25,000/- u/s 37 without appreciating the facts and circumstances of the case. 6. Interest u/s 234A, 234B and 234C On merits, the appellant denies its liability to the levy of penal interest u/s 234A, 234B and 234C, hence the interest levied may be directed to be deleted. 7. The appellant submits that all the above grounds are without prejudice to each other. The appellant craves leave to add, amend, alter, delete or substitute any of the aforesaid grounds at any time before or at the time of hearing of the matter with the Income Tax Appellate Tribunal." 2. Brief facts of the case are that assessee is individual, filed his return of income for A.Y. 2018-19 on 30.09.2018 declaring total income of Rs. 4,04,270/-....
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..../- 5 Navrang Central Con. Co-op W & R Stores Ltd. Repayment Friend 01/11/2017 500,000/- 5,00,000/- 31.12.2021 10.01.2022 2,00,000/-3,00,000/- 5,00,000/- 3. The assessee submitted that additions were made without any basis. For explaining the each unsecured loan, the assessee submitted that loan of Rs. 9.00 lac was received from mother. His mother has expired on 31.03.2016. The assessee was having joint bank account with his mother. For explaining source of his mother, the assessee explained that his mother has paid Rs. 23,00,000/- in 2006 to Vrindavan Builders and Developers. A joint allotment letter was issued in his and in mother's name on 31.08.2010. However deal was not materialized and builder returned the money back. First installment was returned on 08.02.2018. As mother was expired the amount was shown as loan in assessee's account. His mother was also given loan to Rupchand Parmar in July 2014 which was repaid by him on March 2014. The assessee furnished death certificate of mother and bank statement from June, 2006 to December 2006 along with return of income, capital account and balance sheet. The assessee also furnished copy of allotment....
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....wance of salary expenses of Rs. 1,25,000/-, the ld. CIT(A) held that assessee failed to provide supporting documentary evidence to prove the genuineness of salary expenses and that no documentary evidence in support of claim is filed. Further, aggrieved the assessee has filed present appeal before Tribunal. 5. I have heard the submission of ld. Authorized Representative (AR) of the assessee and the ld. Sr. Departmental Representative (DR) of the Revenue. Ground no. 1 is general and needs no adjudication. Ground no. 2 relates to violation of natural justice and ground no. 3 relates to rejection of additional evidences. No specific submissions were made with regard to ground no. 2 and 3, therefore, ground of appeal are treated as not pressed. 6. Ground no. 3 relates to addition of Rs. 17,25,000/- under section 68. The ld. AR of the assessee submits that during assessment, it was a severe Covid Pandemic and the assessee could not furnish complete details of unsecured loan and salary expenses of his staff, though the assessee prayed for allowing time, but the assessing officer instead of allowing time passed assessment order. Against the addition of Rs. 17,25,000/-, the ld. AR of....
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.... the bank account of his mother, copy of which is placed at page 26 of paper book. Thus, the assessee has proved the creditworthiness of lender/mother. Since the mother of assessee has expired, so it was not possible to file confirmation. Otherwise, the amount was received through banking channel; there is no involvement of any cash money. The genuineness of transaction cannot be doubted. The assessee furnished complete details to the office of ld. CIT(A). The ld. CIT(A) disregarded the submission of assessee without bringing any contrary evidence or material on record. Once, the assessee has discharged his primary onus, the onus shifted on the Revenue to prove otherwise. The assessee has proved the identity, creditworthiness and genuineness of loan from mother. The other three loans were received in earlier years which can never be added in the year under consideration. On the disallowance of salary expenses of his staff, the ld. AR of the assessee submits that assessee being a professional engaged two part time employees and paid their salary in cash. The expenses were incurred for the purpose of his professional activity. The expenses are disallowed in surmises and conjectures. ....