TEK SINGH,GUHLA vs. INCOME TAX OFFICER, KAITHAL

Aforesaid appeal by assessee for Assessment Year (AY) 2011-12 arises out of an order of learned Addl. / Joint Commissioner of Income Tax (Appeals)-10, Mumbai, [CIT(A)] dated 28-10-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s. 147 of the Act on 27-11-2018. The sole grievance of the assessee is confirmation of addition of cash deposit for Rs.6 Lacs. Having heard rival submissions and upon perusal of case records, the appeal is disposed-off as under.

It emerges that the assessee’s case was reopened to examine the sources of cash deposit of Rs.10.13 Lac as made by the assessee in his savings bank account. The assessee furnished bank statement and copy of account from commission agent regarding agricultural income. The Ld. AO partly accepted the claim of the assessee but added the amount of Rs.6 Lacs in the hands of the assessee. The Ld. CIT(A) confirmed the assessment for want of verifiable evidences. Aggrieved, the assessee is in further appeal before us. 3. Upon perusal of Page-29 of the paper-book, it could be seen that the assessee has furnished cash flow statement for this year. The deposits are stated to be made out of agricultural receipts and earlier cash withdrawals. However, it could also be seen that the assessee failed to furnish verifiable evidences in support of entire cash deposits. After going through this statement, we are of the considered opinion that a lump sum addition of Rs.1 Lacs would meet the end of justice considering the facts of the case. In other words, the impugned addition for Rs.5 Lacs stand deleted whereas the addition for Rs.1 Lacs stand confirmed. 4. The appeal stand partly allowed.