V.K.PURI., Kolkata V. A.C.I.T.Cir - 26,Kol., Kolkata

ITA 1858/KOL/2012

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83150 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 9 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-10-2014
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 21-11-2016
• Assessment Year: 2000-2001
• Appeal Filed On: 17-12-2012
• Court: TRIBUNAL
• Department Lawyers: SABOORUL HASAN USMANI
• Assessee Lawyers: P K HIMMATSINGHKA
• Keywords: Unexplained investment; Gift
• Section: 147; 148; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, KOLKATA BEFORE SHRI P.K. BANSAL, HONBLE ACCOUNTANT MEMBER AND SHRI MAHAVIR SINGH, HONBLE JUDICIAL MEMBER ITA NOS. 1857 TO 1859/KOL/2012 : (ASST. YEARS : 1999-2000, 2000-2001, 2001-2002) V.K. PURI P.K. HIMMATSINGHKA AA-4, SALT LAKE, KOLKATA 64 PAN : AFSPP9547C (APPELLANT) VS ASST. COMMISSIONER OF INCOME TAX, CIRCLE-26, KOLKATA. (RESPONDENT) ASSESSEE BY : P.K. HIMMATSINGHKA, FCA REVENUE BY : SABOORUL HASAN USMANI, JCIT (SR. DR) DATE OF HEARING : 24/07/2014 DATE OF PRONOUNCEMENT : 16/10/2014 O R D E R PER P.K. BANSAL 1. ALL THESE APPEALS HAVE BEEN FILED BY THE ASSESSE E AGAINST THE COMMON ORDER OF CIT(A) DT. 19.11.2012 BY TAKING THE FOLLOW ING EFFECTIVE GROUNDS OF APPEAL : ITA NO. 1857/KOL/2012 : (1) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CA SE, THE INITIATION OF PROCEEDING U/S 147 READ WITH SEC. 148 OF THE I.T. ACT IS VAGUE, ARBITR ARY, BAD IN LAW AND BEYOND THE PROVISION OF LAW AND THEREFORE REOPENING PROCEEDING IS LIABLE TO BE QUASHED. (2) THAT UNDER THE FACTS & CIRCUMSTANCE OF THE CASE , THE LD CIT(A) ERRED IN CONFIRMING THE ADDITION OF RS. 25,81,443/- OF THOSE INVESTMENT S / DEPOSITS ETC IN BANKS COMPANIES, ETC. HOLDING THAT NO EVIDENCE WAS PRODUCED TO ESTABLISH THE NEXUS OR IMMEDIATE CONNECTION BETWEEN MATURITY VALUES OF EARLIER INVESTMENTS TO P URCHASE THE LISTED ALLEGED INVESTMENTS, DESPITE AO IN BOTH REMAND REPORTS DT. 26/10/2010 &D T. 14/03/2012 FOUND THAT THOSE 2 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) INVESTMENTS / DEPOSITS ETC. IN BANKS ETC. WERE EXPL AINED AND TO HAVE BEEN MADE OUT OF MATURITY PROCEEDS OF EARLIER INVESTMENTS, RECEIPTS. (3) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CAS E, THE LD CIT (A) ERRED IN CONFIRMING THE ADDITION OF RS.3,08,886/- & RS.99,525/- (AS PAR T OF RS.25,81,443/-) BEING INVESTMENTS IN THE NAMES OF NEHA PURI & DIVYA PURI, DAUGHTERS OF T HE APPELLANT WITHOUT ANY FINDING THAT THOSE INVESTMENTS WERE MADE BY THE FATHER (THE APPE LLANT). THE ADDITIONS WERE SUSTAINED SIMPLY BECAUSE THE DAUGHTERS WERE MINOR. (4) THE LD CIT (A) ERRED IN CONFIRMING THE ADDITIO NS MADE BY THE LD AO LISTED AGAINST SERIAL 9 - RS. 2,48,327/-, SERIAL 10 - RS. 32,000, SERIAL 14 - RS.40,000/- DESPITE THESE RECEIPTS / INVESTMENTS WERE FOUND IN THE REMAND REPORT FROM AP PELLANTS SOURCE OF INCOME AND THEREFORE ADDITION IS UNJUSTIFIED, UNWARRANTED AND UNCALLED FOR. (5) THE LD CIT (A), AS PART OF THE ADDITION OF RS. 25,81,443/-, ERRED IN CONFIRMING THE ADDITION MADE BY AO LISTED AGAINST SERIAL AMOUNT 11 RS. 1,48,450/- 7 RS. 48,000/- 8 RS. 40,000/- 18 RS.40,000/- 22 RS. 40,000/- 27 RS. 65,361/- THESE ADDITIONS WERE FOUND IN THE REMAND REPORT DAT ED 14/03/2012 EITHER NOT RELATABLE TO THE YEAR UNDER APPEAL OR INADVERTENTLY REPEATED, OR ERRONEOUSLY MENTIONED. THE ADDITION, ARE THEREFORE, WHIMSICAL, ARBITRARY AND LIABLE TO BE DE LETED. (6) ON THE FACTS & CIRCUMSTANCES OF THE CASE, THE L D CIT(A) ERRED IN CONFIRMING THE ADDITION OF RS. 2,06,514/- BEING INTEREST ACCRUED @ 8% ON THE INVESTMENTS, DESPITE THE LD AO IN THE REMAND REPORT DATED 14/03/2012 FOUND MOST OF THE INVESTMENTS IN THE NAMES OF APPELLANT & TWO MINOR DAUGHTERS BELONGING TO THE WI FE, MRS. AMITA PURI, AND WHICH WERE REFLECTED IN HER STATEMENT OF AFFAIRS AND THE INCOM E THEREON WAS ALREADY INCLUDED IN HER RETURN. (7) THE LD CIT (A) ERRED IN CONFIRMING THE ADDITIO N RS. 2,06,514/- MADE BY THE LD AO ON THE BASIS OF 8% ACCRUED INTEREST ON THE ALLEGED INVESTMENTS, DESPITE INCOME WAS ORDERED TO BE DETERMINED BY THE ITAT, MUMBAI ON MATURITY OF DEPOSITS IN THE HANDS OF AMITA PURI WHERE CORRESPONDING INVESTMENTS WERE REFLECTED. MOR EOVER FURTHER ADDITION OF INTEREST INCOME AT THE HAND OF THE APPELLANT WILL TANTAMOUNT TO DOUBLE TAXATION. (8) THAT THE CIT(A) WAS WRONG IN RELYING ON THE 3RD REMAND REPORT DATED 12/09/2012 WHICH WAS FRAMED WITHOUT DETAILED EXAMINATION OF TH E VARIOUS DOCUMENTARY EVIDENCE & SUBMISSIONS AND THEREFORE SUFFERS FROM INJURY, ILLE GALITY AND IRREVERENCE. THE LD CIT(A) 3 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) ERRED IN MENTIONING AT PAGE 18 OF HIS ORDER THAT AP PELLANT REQUESTED FOR REMAND REPORT, DESPITE NO SUCH REQUEST WAS EVER MADE FOR THE YEAR UNDER APPEAL. (9) THAT THE LD CIT(A) ERRED IN COMING TO THE CONC LUSION THAT THE APPELLANT DID NOT FILE THE PAPER BOOK BEFORE THE LD AO WHEREAS THE SAME W AS SUBMITTED VIDE LETTER DT. 04/12/2006 BEFORE COMPLETION OF ASSESSMENT, AND THE LD AO IN REMAND REPORT DT. 14/03/2012 CONFIRMED THE SAID SUBMISSION, THEREFORE THE ORDER SO MADE BY THE LD CIT(A) IS ARBITRARY, IRRELEVANT AND WHIMSICAL. ITA NO. 1858/KOL/2012 : (1) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CA SE, THE INITIATION OF PROCEEDING U/S 147 READ WITH SEC. 148 OF THE I.T. ACT IS VAGUE, ARBITR ARY, BAD IN LAW AND BEYOND THE PROVISION OF LAW AND THEREFORE REOPENING PROCEEDING IS LIABLE TO BE QUASHED. (2) THAT UNDER THE FACTS & CIRCUMSTANCE OF THE CASE , THE LD CIT (A) ERRED IN CONFIRMING THE ADDITION OF RS. 24,75,882/- OF THOSE INVESTMENT S / DEPOSITS ETC IN BANKS COMPANIES, ETC. HOLDING THAT NO EVIDENCE WAS PRODUCED TO ESTABLISH THE NEXUS OR IMMEDIATE CONNECTION BETWEEN MATURITY VALUES OF EARLIER INVESTMENTS TO P URCHASE THE LISTED ALLEGED INVESTMENTS, DESPITE AO IN BOTH REMAND REPORTS DT. 26/10/2010 &D T. 14/03/2012 FOUND THAT THOSE INVESTMENTS / DEPOSITS ETC. IN BANKS ETC. WERE EXPL AINED AND TO HAVE BEEN MADE OUT OF MATURITY PROCEEDS OF EARLIER INVESTMENTS, RECEIPTS. (3) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CAS E, THE LD CIT (A) ERRED IN CONFIRMING THE ADDITION OF RS. 7,28,573/- & RS. 5,74,885/- (AS PART OF RS. 24,75,882/-) BEING INVESTMENTS IN THE NAMES OF NEHA PURI& DIVYA PURI, DAUGHTERS OF THE APPELLANT WITHOUT ANY FINDING THAT THOSE INVESTMENTS WERE MADE BY THE FATHER (THE APPE LLANT). THE ADDITIONS WERE SUSTAINED SIMPLY BECAUSE THE DAUGHTERS WERE MINOR. (4) LD CIT (A) ERRED IN CONFIRMING THE ADDITION MA DE BY AO LISTED AGAINST SERIAL 12 RS.45,000/-, SERIAL 20 RS. 45,000/- DESPITE THOSE I NVESTMENTS WERE FOUND IN A REMAND REPORT FROM APPELLANT SOURCE OF INCOME AND THEREFORE ADDIT ION IS UNJUSTIFIED, UNWARRANTED AND UNCALLED FOR. (5) THE LD CIT (A), AS PART OF THE ADDITION OF RS. 24,75,882/-, ERRED INCONFIRMING THE ADDITION MADE BY AO LISTED AGAINST SERIAL AMOUNT 5 RS. 48,000*2 = RS.96,000/- 6 RS. 50,000/- 13 RS. 48,000*3 = RS.1,44,000/- 17 RS.49,000*2= RS.98,000/- 20 RS. 45,000/- 21 RS. 86,374/-, RS. 25,156/-& RS. 8844/- 4 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) THESE ADDITIONS WERE FOUND IN THE REMAND REPORT DA TED 14/03/2012 EITHER NOT RELATABLE TO THE YEAR UNDER APPEAL OR INADVERTENTLY REPEATED, OR ERRONEOUSLY MENTIONED. THE ADDITION, ARE THEREFORE, WHIMSICAL, ARBITRARY AND LIABLE TO BE DE LETED. (6) ON THE FACTS & CIRCUMSTANCES OF THE CASE, THE L D CIT(A) ERRED IN CONFIRMING THE ADDITION OF RS. 1,98,068/- BEING THE INTEREST ACCRU ED @ 8% ON THE INVESTMENTS, DESPITE THE LD AO IN THE REMAND REPORT DATED 14/03/2012 FOUND MOST OF THE INVESTMENTS IN THE NAMES OF APPELLANT AND DIVYA PURI, THE DAUGHTER BELONGING TO THE WIFE, AMITA PURI AND WHICH WERE REFLECTED IN HER STATEMENT OF AFFAIRS AND THE INCOM E THEREON WAS REFLECTED IN HER RETURN. NEHA PURI, THE OTHER DAUGHTER, MAJOR, HAD FILED INDEPEND ENTLY HER IT RETURN AND WAS ASSESSED TO TAX ON SUBSTANTIVE BASIS. (7) THE LD CIT (A) ERRED IN CONFIRMING THE ADDITIO N RS. 1,98,068/- MADE BY THE LDAO ON THE BASIS OF 8% ACCRUED INTEREST ON THE ALLEGED INVESTMENTS, DESPITE INCOME WAS ORDERED TO BE DETERMINED BY THE ITAT, MUMBAI ON MATURITY OF DEPOSITS IN THE HANDS OF AMITA PURI WHERE CORRESPONDING INVESTMENTS WERE REFLECTED AND INTEREST INCOME OF NEHA PURI WAS ACCEPTED ON RECEIPT BASIS BY HER AO. MOREOVER FURTH ER ADDITION OF INTEREST INCOME AT THE HAND OF THE APPELLANT WILL TANTAMOUNT TO DOUBLE TAX ATION. (8) THAT THE CIT(A) WAS WRONG IN RELYING ON THE 3RD REMAND REPORT DATED 12/09/2012 WHICH WAS FRAMED WITHOUT DETAILED EXAMINATION OF TH E VARIOUS DOCUMENTARY EVIDENCE & SUBMISSIONS AND THEREFORE SUFFERS FROM INJURY, ILLE GALITY AND IRREVERENCE. THE LD CIT(A) ERRED IN MENTIONING AT PAGE 18 OF HIS ORDER THAT AP PELLANT REQUESTED FOR REMAND REPORT, DESPITE NO SUCH REQUEST WAS EVER MADE FOR THE YEAR UNDER APPEAL. (9) THAT THE LD CIT(A) ERRED IN COMING TO THE CONC LUSION THAT THE APPELLANT DID NOT FILE THE PAPER BOOK BEFORE THE LD AO WHEREAS THE SAME W AS SUBMITTED VIDE LETTER DT. 04/12/2006 BEFORE COMPLETION OF ASSESSMENT, AND THE LD AO IN REMAND REPORT DT. 14/03/2012 CONFIRMED THE SAID SUBMISSION, THEREFORE THE ORDER SO MADE BY THE LD CIT(A) IS ARBITRARY, IRRELEVANT AND WHIMSICAL. ITA NO. 1859/KOL/2012 : (1) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CA SE, THE INITIATION OF PROCEEDING U/S 147 READ WITH SEC. 148 OF THE I.T. ACT IS VAGUE, ARBITR ARY, BAD IN LAW AND BEYOND THE PROVISION OF LAW AND THEREFORE REOPENING PROCEEDING IS LIABLE TO BE QUASHED. (2) THAT UNDER THE FACTS & CIRCUMSTANCE OF THE CASE , THE LD CIT (A) ERRED IN CONFIRMING THE ADDITION OF RS. 9,42,160/- OF THOSE INVESTMENTS / DEPOSITS ETC IN BANKS, COMPANIES, ETC. HOLDING THAT NO EVIDENCE WAS PRODUCED TO ESTABLISH THE NEXUS OR IMMEDIATE CONNECTION BETWEEN MATURITY VALUES OF EARLIER INVESTMENTS TO P URCHASE THE LISTED ALLEGED INVESTMENTS, DESPITE AO IN BOTH REMAND REPORTS DT. 26/10/2010 &D T. 14/03/2012 FOUND THAT THOSE 5 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) INVESTMENTS / DEPOSITS ETC. IN BANKS ETC. WERE EXPL AINED AND TO HAVE BEEN MADE OUT OF MATURITY PROCEEDS OF EARLIER INVESTMENTS, RECEIPTS. (3) THAT UNDER THE FACTS & CIRCUMSTANCES OF THE CAS E, THE LD CIT (A) ERRED IN CONFIRMING THE ADDITION OF RS. 1,41,849/- & RS. 1,15,502/- (AS PART OF RS. 9,42,160/-) BEING INVESTMENTS IN THE NAMES OF NEHA PURI & DIVYA PURI, DAUGHTERS O F THE APPELLANT WITHOUT ANY FINDING THAT THOSE INVESTMENTS WERE MADE BY THE FATHER (THE APPE LLANT). THE ADDITIONS WERE SUSTAINED SIMPLY BECAUSE THE DAUGHTERS WERE MINOR. (4) LD CIT (A) ERRED IN CONFIRMING THE ADDITION MA DE BY AO LISTED AGAINST SERIAL 5 RS.40,000/-, DESPITE THOSE INVESTMENTS WERE FOUND I N A REMAND REPORT FROM APPELLANT SOURCE OF INCOME AND THEREFORE ADDITION IS UNJUSTIFIED, UN WARRANTED AND UNCALLED FOR. (5) LD CIT (A) ERRED IN CONFIRMING THE ADDITION MA DE BY AO LISTED AGAINST SERIAL 19 RS.23,433/- & SERIAL 20 RS.42,000/-. THOSE ADDITIO NS WERE FOUND IN REMAND REPORT 14/03/2012 EITHER NOT RELATABLE TO THE YEAR UNDER A PPEAL OR INADVERTENTLY REPEATED, OR ERRONEOUSLY MENTIONED. THE ADDITION, THEREFORE, AR E WHIMSICAL, ARBITRARY AND LIABLE TO BE DELETED. (6) ON THE FACTS & CIRCUMSTANCES OF THE CASE, THE L D CIT(A) ERRED IN CONFIRMING THE ADDITION OF RS. 75,371/- BEING THE INTEREST ACCRUED @ 8% ON THE INVESTMENTS, DESPITE THE LD AO IN THE REMAND REPORT DATED 14/03/2012 FOUND MOST OF THE INVESTMENTS IN THE NAMES OF APPELLANT AND DIVYA PURI, THE DAUGHTER BELONGING TO THE WIFE, AMITA PURI AND WHICH WERE REFLECTED IN HER STATEMENT OF AFFAIRS AND THE INCOM E THEREON WAS REFLECTED IN HER RETURN. NEHA PURI, THE OTHER DAUGHTER, MAJOR, HAD FILED INDEPEND ENTLY HER IT RETURN AND WAS ASSESSED TO TAX ON SUBSTANTIVE BASIS. (7) THE LD CIT (A) ERRED IN CONFIRMING THE ADDITIO N RS. 75,371/- MADE BY THE LD AO ON THE BASIS OF 8% ACCRUED INTEREST ON THE ALLEGED INV ESTMENTS, DESPITE INCOME WAS ORDERED TO BE DETERMINED BY THE ITAT, MUMBAI ON MATURITY OF DEPOS ITS IN THE HANDS OF AMITA PURI WHERE CORRESPONDING INVESTMENTS WERE REFLECTED AND INTERE ST INCOME OF NEHA PURI WAS ACCEPTED ON RECEIPT BASIS BY HER AO. MOREOVER FURTHER ADDITION OF INTEREST INCOME AT THE HAND OF THE APPELLANT WILL TANTAMOUNT TO DOUBLE TAXATION. (8) THAT THE CIT(A) WAS WRONG IN RELYING ON THE 3RD REMAND REPORT DATED 12/09/2012 WHICH WAS FRAMED WITHOUT DETAILED EXAMINATION OF TH E VARIOUS DOCUMENTARY EVIDENCE & SUBMISSIONS AND THEREFORE SUFFERS FROM INJURY, ILLE GALITY AND IRREVERENCE. THE LD CIT(A) ERRED IN MENTIONING AT PAGE 18 OF HIS ORDER THAT AP PELLANT REQUESTED FOR REMAND REPORT, DESPITE NO SUCH REQUEST WAS EVER MADE FOR THE YEAR UNDER APPEAL. (9) THAT THE LD CIT(A) ERRED IN COMING TO THE CONC LUSION THAT THE APPELLANT DID NOT FILE THE PAPER BOOK BEFORE THE LD AO WHEREAS THE SAME W AS SUBMITTED VIDE LETTER DT. 04/12/2006 BEFORE COMPLETION OF ASSESSMENT, AND THE LD AO IN REMAND REPORT DT. 14/03/2012 CONFIRMED 6 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) THE SAID SUBMISSION, THEREFORE THE ORDER SO MADE BY THE LD CIT(A) IS ARBITRARY, IRRELEVANT AND WHIMSICAL. 2. ALL THESE APPEALS RELATE TO THE SAME ASSESSEE, T HEREFORE, THEY ARE DISPOSED OFF BY THIS COMMON ORDER. ITA NO. 1857/KOL/2012 (A.Y 1999-2000) : 3. GROUND NO. 1 SINCE NOT PRESSED STANDS DISMISSED AS NOT PRESSED. 4. THE ONLY ISSUE IN GROUND NOS. 2 TO 5 RELATES TO ADDITION OF RS.25,81,443/- BY THE AO AND SUSTAINED BY THE CIT(A). THE BRIEF F ACTS RELATING TO THESE GROUNDS ARE THAT THE ASSESSEE SUBMITTED RETURN ON 2 9.6.1999 AT AN INCOME OF RS.3,20,809/-. SUBSEQUENTLY, THE PROCEEDINGS U/S 1 47 WERE INITIATED AND ASSESSMENT WAS COMPLETED U/S 147 R.W.S 144 AT AN IN COME OF RS.31,08,770/- BY MAKING THE IMPUGNED ADDITION OF RS.25,81,443/- AND THE ACCRUED INTEREST ON UNEXPLAINED INVESTMENT AMOUNTING TO RS.2,06,514/-. THE ADDITIONS HAVE BEEN MADE ON THE BASIS OF THE INVESTMENTS UNEARTHED BY T HE CBI AND AS INFORMED TO THE DEPARTMENT. CBI NOTED THE FOLLOWING INVESTMENT S HELD BY THE ASSESSEE : SL. NO. DESCRIPTION V K PURI AMITA PURI DIVYA PURI NEHA PURI 1 D-142 UTI BANK LTD. PUNE FDR DT 24.03.1999 48,000 48,000 48,000 2 D-219 SYNDICATE BANK LTD. A/C NO 36516 FD 43726 DATED 02.07.1998 1,02,144 3 03.03.1998 148 4 03.03.1998 68,123 5 D-295 VCC NO. 87296 21.08.1998 35,000 6 D-330 PAGE 1949 HDFC 31.07.1998 40,000 7 D - 330 PAGE 1956 09.09.1998 48,000 8 D-330 PAGE 1899 31.07.1998 40,000 9 D-225 BANK A/C SBI FROM 01.07.1998 TO 31.03.1999 2,48,327 1,10,152 10 - DO - 32,000 72,609 11 -DO- 1,48,450 12 D - 331 PAGE 1907 48,000 7 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 13 D-473 PAGE 1911 HDFC 9,07,315 14 D-38 MMDC CENTRAL BANK OF INDIA DATE 02.05.1998 R. NO. 136538, 136539 40,000 40,000 16 D-170 PAGE 1411/1417 GLOBAL TRUST BANK LTD, DT. 18.4.1998 55,000 55,000 17 D-177 PAGE 1462, 1466, 1479 DO- DT. 10.09.1998 48,000 48,000 48,000 18 D - 177 DATED 10.09.1998 40,000 19 PAGE NO 1483, 1470 DT. 10.03.1999 515510, 515539, 515538 48,000 48,000 48,000 20 D-139 INDUS IND BANK DT. 12.9.98 48,000 21 HDFC BANK PAGE 1264 10.9.98 48,000 48,000 22 D-622 SRF LTD 20.7.98 40,000 23 TATA IRON & STEEL 525 525 525 525 24 D-332 HDFC DEPOSIT FROM 09.09.1998 48,000 25 D-666 PAGE 1664 BLOW PLAST LTD, FDR 20216, 15, 17, 14 11,000 11,000 11,000 11,000 26 PAGE 1320 SYNDICATE BANK 26.3.99 55,354 27 D-243 HDFC PAGE 1217 DT. 5.9.98 48,000 48,000 6 5,361 28 D-237 PNB A/C NO 7223 DT. 9.2.1999 13,000 29 D-116/D-119/D-120 PAGE NO. 1551 MIS A/C NO 23870, 23869, 2387123868 48,000 48,000 48,000 48,000 TOTAL 3261983 22,13,032 640,540 99,525 308,886 THE AO WAS NOT SATISFIED WITH THE SOURCE OF THE INV ESTMENTS AND THEREFORE HE MADE THE ADDITION OF RS.25,81,443/- EXCEPT THE SUM OF RS. 40,000/-. THE ASSESSEE WENT IN APPEAL BEFORE CIT(A). CIT(A) CONF IRMED THE SAID ADDITION AS UNEXPLAINED INVESTMENTS EVEN IGNORING THE REMAND RE PORT DT. 26.10.2010 AND 14.3.2012 OF THE AO. 4.1 THE LD. AR BEFORE US DREW OUR ATTENTION TOWARDS THE REMAND REPORT AND CONTENDED THAT THE ASSESSEE HAS DULY SUBMITTED THE SOURCE OF EACH AND EVERY INVESTMENT. EXPLANATION WAS ALSO FILED BEFORE US I N THE FORM OF CHART IN THE FOLLOWING MANNER : SL. NO. PARTICULARS OF INVESTMENTS/RECEIPTS AMOUNT (RS.) PARTICULARS OF INVESTMENT/ RECEIPT AT SOURCE/REMARKS 8 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) PAGENO. OF PAPER BOOK I 1 INVESTMENT IN TWO FDS AT UTI BANK J M ROAD, PUNE BOTH DATED 24.03.1999 (A) 48,000 V K PURI (B) 48,000 NEHA PURI 59 50 (A) THE 1ST INVESTMENT OF RS. 48,000/- IN THE NAME OF V.K.PURI WAS THROUGH DEBIT IN SAVING A/C 980680 WITH COSMOS BANK, PUNE ON 26.03.99-SEE BANK STATEMENT AT PAGE 63 (B) THE 2ND INVESTMENT OF RS. 48,000/- IN THE NAME OF NEHA PURI WAS THROUGH DEBIT IN SB A/C NO. 980677, COSMOS BANK, PUNE ON 26.03.99 SEE BANK STATEMENT AT PAGE 65 THESE INVESTMENTS MADE OUT OF RECEIPTS FROM EARLIER MATURED FDS/INTEREST ETC. DETAILS OF THESE AMOUNTS CREDITED IN COSMOS BANK MAY BE SEEN AT PAGE 198 RECEIPT OF INTEREST ON CASH BASIS ON THESE INVESTMENTS WAS OFFERED TO TAX BY AMIT PURI & NEHA PURI IN A.Y.2002-03 AND ASSESSED ACCORDINGLY. 2 MATURITY AMOUNT OF FD NO. 43726 DATED 2.7.93 IN SYNDICATE BANK, NEW DELHI OF RS.60,000/- ON 2.7.98 102,144 REFLECTED BY AMITA PURI IN HER STATEMENT OF AFFAIRS BEFORE I. TAX MUMBAI PAGE 67 (S.14) IT IS MATURITY AMOUNT OF FD NO. 43726 DATED 02.07.1993 FOR RS.60,000/-.FD MATURED ON 2.7.98. INTEREST OF RS 42,144/- OFFERED TO TAX BY AMITA PURI IN A.Y. 1999-00 (SEE PAGE 286 OF PAPERBOOK PT II) AND ASSESSED ACCORDINGLY. SEE PAGES 79-80 3 INTEREST RECD IN SB A/C NO 36516 ON 04.07.1998 148 87 OFFERED TO TAX BY AMITA PURI IN A.Y. 1999-00 AND ASSESSED ACCORDINGLY PAGE 287 OF PAPERBOOK PT II 4 DEPOSIT MADE IN SB A/C 36516 ON 03.09.1998 68,123 87 FD NO. 43726 DATED 2.7.93 MATURED ON 2.7.98 FOR RS 102144/-. THIS AMOUNT OF 9 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) RS.102144/- WAS REINVESTED FOR 50 DAYS ON 2.7.98 HAVING FD NO 44983-REFER S NO. 2 ABOVE OF THIS CHART. COPY OF FD AT PAGE 81. MATURITY VALUE OF THIS FD ON 21.8.98 WAS RS 103,123/-. OUT OF THIS, RS 68,123/- DEPOSITED IN SB A/C NO 36516 ON 3.9.98. INTEREST AMT OF RS 979/- FOR 50 DAYS FD OFFERED TO TAX BY AMITA PURI IN A.Y. 1999-00 AND ASSESSED ACCORDINGLY-SEE PAGE 286 OF PAPERBOOK II. SEE PAGES 82, 87 5 INVESTMENT IN FD NO 45546 DATED 21.8.98 IN SYNDICATE BANK 35,000 88 FD FOR RS 35,000/ - MADE OUT OF MATURITY AMT RS. 103,123/- OUT OF FDS AT S.NOS. 2 & 4 ABOVE CHART PAGE 82 & 88. RECEIPT OF INTEREST ON CASH BASIS ON THIS INVESTMENT HAS BEEN OFFERED TO TAX BY AMITA PURI IN A.Y. 2002-03 AND ASSESSED ACCORDINGLY. 6 DOCUMENT D-330 REPRESENTS OPENING OF SAVING A/C NO 61063 IN HDFC BANK ON 31.7.1998 40,000 92 CASH DEPOSITED IN BANK IN OPENING SB A/C 61063 ON 31.7.98. REFER TO CASH FLOW STATEMENT AT PAGE 100(S. NO.25) WITH SUPPORTING DOCUMENTS AT PAGES 103-115 OF WITHDRAWING/ DEPOSITING CASH FROM/IN VARIOUS SB A/CS. 7 D - 330 DATED 9.9.1998 48,000 91 - 94 NO SUCH DEPOSIT MADE ON 9.9.1998 OF RS 48,000 UNDER D- 330 8 D - 330 DATED 31.7.1998 40,000 92 DUPLICATION OF DEPOSIT AMT. FOR OPENING SB A/C 61063-REFER S.NO. 6 ABOVE 9 SALARY, TA, RENT ETC DEPOSITED IN SBI, PUNE SB A/C NO 34214 FROM 1/7/98 TO 31/3/99 248,327 116-118 DETAILS OF EACH ENTRY OF DEPOSIT MADE IN SB A/C NO. 34214 IN SBI PUNE FROM 1.7.98 TO 31.3.99 GIVEN AT PAGE 122. DETAILED PARTICULARS OF SALARY, DA & TA GIVEN AT PAGES 123-125. 10 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 10 - DO - 32,000 (TOTAL 248,327+ 32,000) 120 MONTHLY RENT OF RS 8750/9750 P.M. RECEIVED IN PUNJAB NATIONAL BANK, DEHRADUN NO 64921 DURING THE SAID PERIOD-PAGES 127-8. CASH WITHDRAWALS MADE FROM THIS SB A/C AND DEPOSITED IN SBI PUNE. ALSO CASH WITHDRAWAL FROM SB A/C IN BANK OF INDIA MUMBAI (PAGE 126) AND DEPOSITED IN SBI PUNE (SEE PAGE 122) 11 SALARY, TA, RENT ETC DEPOSITED IN SBI, PUNE SB A/C NO 34214 FROM 1/4/99 TO 1/9/99 (RELATES TO A.Y. 2000-01) 148,450 130-131 DETAILS OF EACH ENTRY OF DEPOSIT MADE IN SB A/C NO. 34214 IN SBI PUNE DURING 1.4.99 TO 1.9.99 GIVEN AT PAGE 132. DETAILED PARTICULARS/SALARY SLIPS OF SALARY, DA & TA GIVEN AT PAGES 133- 138. NOT RELEVANT FOR THIS ASSESSMENT YEAR. RELATABLE TO AY 2000-01. 12 FD IN HDFC BANK, PUNE DATED 9.9.98 48,000 95 (D-331) AMOUNT DEBITED ON 11/9/98 FROM SB A/C NO. 61063 SEE PAGE 139 OUT OF RS 7.85 LAKHS DEPOSITED S.NO. 13 OF THIS CHART. 13 AMOUNTS DEPOSITED IN HDFC BANK, PUNE SB A/C NO 61063 FROM 31/7/98 TO 1/4/99 907315 139 DETAILS OF EACH ENTRY OF DEPOSIT MADE IN SB A/C NO. 61063 IN HDFC BANK GIVEN AT PAGE 140. RS.7.85 LAKHS REPRESENTS THREE DEMAND DRAFTS DEPOSITED IN THIS ACCOUNT, BREAK UP OF WHICH IS RS.3.40 LAKHS OF BANK OF MAHARASHTRA, DEHRADUN OUT OF MATURITY OF EARLIER DEPOSITS PAGES 141-2; RS.2.95 LAKHS OF PUNJAB NATIONAL BANK, DEHRADUN OUT OF MATURITY OF EARLIER DEPOSITS PAGES 143-4; RS.1.50 LAKHS OF INDIAN OVERSEAS BANK, DEHRADUN OUT OF MATURITY OF EARLIER DEPOSITS PAGES 145- 8; THREE CASH DEPOSITS OF RS.40,000, RS. 50,000 & RS.30,000 SEE CASH FLOW STATEMENT PAGES 100-101 (S NOS. 25,53 & 55) AND WITH SUPPORTING DOCUMENTS AT PAGES 11 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 103-115 GIVING DEPOSIT/WITHDRAWAL OF CASH; DIVIDEND OF RS 650/- FROM L&T: PAGES 149-152; AND BALANCE SB INTEREST CREDITED 14 INVESTMENT IN FD IN THE NAME OF DIVYA PURI IN CENTRAL BANK, DEHRADUN DATED 01.05.98 40,000 154 - 5 TWO FDS OF RS.40,000/ - EACH WERE MADE IN CENTRAL BANK BY DEBIT OF RS 80,000/- ON 1.5.98 FROM PUNJAB NATIONAL BANK SB A/C 64921. A.O GAVE BENEFIT OF ONE FD FOR RS 40,000/- IN ASSESSMENT ORDER IN THE NAME OF VK PURI. INTEREST OFFERED TO TAX BY DIVYA PURI IN AY 2002-03. 16 FD IN GLOBAL TRUST BANK LTD, NARIMAN POINT, MUMBAI DATED 18.4.98 55,000 156-158 FD OF RS. 55,000/- MADE WITH GLOBAL TRUST BANK LTD, NARIMAN POINT, MUMBAI ON 18.4.98 BY CASH. AMT REFERRED IN CASH FLOW STATEMENT PAGES 100 (S.NO. 3- WHICH IS FOR DEBIT OF TWO FDS OF RS. 55000X2=RS 110000/-) & SUPPORTING DOCUMENTS AT PAGES 103-115 OF WITHDRAWING/ DEPOSITING CASH FROM/IN VARIOUS SB A/CS. FD CLOSED IN THE SAME YEAR ON 18.7.98 AND INTEREST OFFERED TO TAX BY AMITA PURI IN AY 1999-00 PAGE 286 OF PAPERBOOK II AND ASSESSED ACCORDINGLY. 17 FDS IN GLOBAL TRUST BANK FC RD PUNE ON 10/9/98 AND 10/3/99, RESPECTIVELY (A) 48,000 V K PURI (B) 48,000 NEHA PURI 161-2 163 (A) 1 ST INVESTMENT RS.48,000/- IN THE NAME OF V.K. PURI MADE THROUGH DEBIT IN SAVING A/C 61063 WITH HDFC BANK, PUNE (PART OF RS.96,000/-) ON 10/9/98 SEE PAGE 139 OUT OF RS 7.85 LAKHS DEPOSITED IN SB A/C S.NO. 13 OF THIS CHART. (B) 2 ND INVESTMENT OF RS.48,000/- MADE IN CASH ON 10.3.99. SEE CASH FLOW STATEMENT AT PAGE 101(S.NO. 60) AND SUPPORTING DOCUMENTS AT PAGES 103- 115 OF WITHDRAWING/ 12 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) DEPOSITING CASH FROM/IN VARIOUS SB A/CS. RECEIPT OF INTEREST ON CASH BASIS ON THESE INVESTMENTS WAS OFFERED TO TAX BY AMITA PURI & NEHA PURI IN A.Y 2002-03 AND ASSESSED ACCORDINGLY. 18 NON-EXISTENT FD IN NAME OF NEHA PURI 40,000 A.O. IN THE REMAND REPORT HAS VERIFIED AT PAGE 283 THAT NO SUCH FD EXISTED 19 FDS IN GLOBAL TRUST BANK MG RD PUNE BOTH DATED 10/3/99 (A) 48,000 V K PURI (B) 48,000 NEHA PURI (A) 1 ST INVESTMENT RS.48,000/- IN THE NAME OF V.K. PURI MADE IN CASH ON 10.3.99. SEE CASH FLOW STATEMENT AT PAGE 101 (S.NO. 59) AND SUPPORTING DOCUMENTS AT PAGES OF WITHDRAWING/ DEPOSITING CASH FROM/IN VARIOUS SB A/CS 103-115. (B) 2 ND INVESTMENT OF RS.48,000/- MADE IN CASH ON 10.3.99. SEE CASH FLOW STATEMENT AT PAGE 101(S.NO. 58) AND 103-115 RECEIPT OF INTEREST ON CASH BASIS ON THESE INVESTMENTS WAS OFFERED TO TAX BY AMITA PURI & NEHA PURI IN A.Y 2002-03 AND ASSESSED ACCORDINGLY. 20 FD IN INDUSIND BANK PUNE DATED 11.9.98 48000 166 - 8 RS. 48,000/- DEBITED IN SAVING ON 10.9.98 A/C 61063 WITH HDFC BANK, PUNE (PART OF RS.96,000/-) PAGE 139 OUT OF RS. 7.85 LAKHS DEPOSITED IN SB A/C S.NO. 13 OF THIS CHART. RECEIPT OF INTEREST ON CASH BASIS ON THIS INVESTMENT WAS OFFERED TO TAX BY AMITA PURI IN A.Y. 2002- 13 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 03 AND ASSESSED ACCORDINGLY. 21 FD IN HDFC BANK, SS ROAD, PUNE DATED 10.9.98 48,000 169 RS. 48,000/- DEBITED IN SAVING A/C 61063 WITH HDFC BANK, PUNE ON 12.9.98 (PART OF RS.192000/- DEBITED FOR FDS IN TIMES (HDFC) BANK SEE PAGE 139 OUT OF RS 7.85 LAKHS DEPOSITED IN SB A/C S. NO. 13 OF THIS CHART. RECEIPT OF INTEREST ON CASH BASIS ON THESE INVESTMENTS WAS OFFERED TO TAX BY AMITA PURI A.Y 2004- 05 AND ASSESSED ACCORDINGLY. 22 D - 622 SRF 40,000 170 - 171 NO SUCH FD OF RS. 40,000/ - IN M/S.SRF. D-622 RELATES TO A.Y 2000-01 23 INTEREST RECEIVED FROM TATA BONDS ON 1.11.98 525 525 525 172-174 INTEREST IN THE NAMES OF V K PURI, NEHA PURI AND DIVYA PURI OFFERED TO TAX BY AMITA PURI IN A.Y 1999-00 AND ASSESSED ACCORDINGLY. ALSO FIGURES IN STATEMENT OF AFFAIRS OF AMITA PURI PAGE 69 (S. NO. 14) 25 RE - INVESTMENT FDS WITH BLOW PLAST ON 17/03/99 11,000 11,000 11,000 175 - 77 LETTER FROM BLOW PLAST DATED 17.09.2004 ENCLOSING STATEMENTS SHOWING THAT THESE ARE RENEWALS OF EARLIER INVESTMENTS OF RS.11,000/- EACH ON 17.3.99. INTEREST ON THESE DEPOSITS OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI AND DIVYA PURI WHEN PRINCIPAL AMOUNT INCLUDING INTEREST APPROPRIATED BY INCOME TAX. 27 FD WITH HDFC (TIMES) BANK FC ROAD, PUNE DATED 5.9.98 (A) 48,000 V K PURI (B)65,361 NEHA PURI 179 (A) INVESTMENTOF RS.48,000/- IN THE NAME OF V.K. PURI MADE IN CASH ON 5/9/98. SEE CASH FLOW STATEMENT AT PAGE 100 (S.NO. 33) AND SUPPORTING DOCUMENTS AT PAGES 103- 14 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 115 OF WITHDRAWING/DEPOSITING CASH FROM/IN VARIOUS SB A/CS. INTEREST ON CASH BASIS PAID BY AMITA PURI IN AY 2004-05 AND ASSESSED ACCORDINGLY. (B) NO SUCH INVESTMENT OF RS.65,361/- MADE BY NEHA PURI DURING A.Y 1999-00. AO IN REMAND REPORT ALSO CONFIRMED THIS AFTER VERIFICATION. 28 ACCRUED INTEREST ON FD NO 7223 IN PUNJAB NATIONAL BANK, CLOCK TOWER, DEHRADUN DURING FY 1998-99 13,000 180 - 81 THIS IS ACCRUED INTEREST ON FD NO. 7223 OF RS 50,000/- DURING 1998-99 WHICH MATURED ON 14.03.2000 FOR RS.71,288/- . INTEREST OF RS.21,288/- (INCLUDING RS.13,000/-) OFFERED TO TAX BY AMITA PURI DURING AY 2000-01 AND ASSESSED ACCORDINGLY. 29 POST OFFICE DEPOSIT MIS DEPOSITS DATED 17.3.99 (A) 48,000 V K PURI (B)48,000 NEHA PURI (C) 48,000 DIVYA PURI 192 188 194 (A) THE 1 ST INVESTMENT RS.48,000/- IN THE NAME OF V.K. PURI THROUGH DEBIT IN SAVING A/C 980680 WITH COSMOS BANK, PUNE ON 17.3.99 PAGE 63. (B) THE 2 ND INVESTMENT RS. 48,000/- WAS MADE THROUGH DEBIT IN PASS BOOK OF COSMOS BANK PUNE, A/C NO. 980679 ON 17.3.99 PAGE 64. (C) THE 3 RD INVESTMENT RS.48,000/- WAS MADE THROUGH DEBIT IN PASS BOOK OF COSMOS BANK PUNE, A/C NO. 980677 PAGE 65. THESE INVESTMENTS MADE OUT OF RECEIPTS FROM EARLIER MATURED FDS/INTEREST ETC. DETAILS OF THESE AMOUNTS CREDITED IN COSMOS BANK MAY BE SEEN AT PAGE 198. RECEIPT OF INTEREST ON CASH BASIS ON THESE INVESTMENTS WAS OFFERED TO TAX BY AMITA PURI, NEHA PURI 15 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) & DIVYA PURI IN A.Y. 2007-08 AND ASSESSED ACCORDINGLY. TOTAL RS. 25,81,443/- NO ACCRUED INTEREST PAYABLE AS INTEREST INCOME IS B EING OFFERED TO TAX ON CASH RECEIPT BASIS. NOTE : SERIAL NOS AS IN THE ASSESSMENT ORDER OUR ATTENTION WAS ALSO DRAWN TOWARDS THE REMAND REP ORT DT. 26.10.2010 WHICH IS AVAILABLE AT PG. 258-267 OF THE PAPER BOOK AS WE LL AS REMAND REPORT DT. 14.3.2012 WHICH IS AVAILABLE AT PG. 270-285 OF THE PAPER BOOK. THUS, IT WAS CONTENDED THAT IF CIT(A) HAD LOOKED INTO THE REMAND REPORTS, NO ADDITION IS SUPPOSED TO BE MADE. ATTENTION WAS ALSO DRAWN TOWA RDS THE PROVISIONS OF SEC. 69 AND IT WAS CONTENDED THAT THE ASSESSEE HAS DULY SUBMITTED THE EXPLANATION ABOUT THE NATURE AND SOURCE OF THE INVESTMENTS TO T HE EXTENT THE INVESTMENTS WERE MADE BY THE ASSESSEE. THE INVESTMENTS CAN BE REGARDED TO BE THE INCOME OF THE ASSESSEE IF THE ASSESSEE FAILS TO EXPLAIN TH E SOURCE OF THE INVESTMENTS. THUS, IT WAS CONTENDED THAT THE ADDITION BE DELETED . 4.2 THE LD. DR ON THE OTHER HAND RELIED ON THE ORDE R OF THE AUTHORITIES BELOW BUT WHEN HIS ATTENTION WAS DRAWN TOWARDS THE REMAND REPORT, HE COULD NOT EXPLAIN ANYTHING FURTHER. 4.3 WE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY CO NSIDERED THE SAME. UNDER SEC. 69 THE AO CAN TREAT THE VALUE OF THE INVESTMEN TS AS THE INCOME OF THE ASSESSEE IF HE FINDS THAT IN THE FINANCIAL YEAR IMM EDIATELY PRECEDING THE ASSESSMENT YEAR, THE ASSESSEE HAD MADE INVESTMENTS WHICH ARE NOT RECORDED IN THE BOOKS OF ACCOUNTS, IF ANY, MAINTAINED BY THE AS SESSEE FOR ANY SOURCE OF INCOME AND THE ASSESSEE OFFERS NO EXPLANATION ABOUT THE NATURE AND SOURCE OF THE INVESTMENTS OR THE EXPLANATION OFFERED BY HIM I S NOT IN THE OPINION OF THE AO SATISFACTORY. WE NOTED THAT DURING THE COURSE O F THE SEARCH, CERTAIN INVESTMENTS WERE UNEARTHED BY THE CBI. THE ASSESSE E SUBMITTED THE EXPLANATION EXPLAINING THE NATURE OF THE SOURCE, BU T THE AO ADDED THE SAME AS, 16 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) IN HIS OPINION, THE SOURCE OF ALL INVESTMENTS ON TH E BASIS OF WHICH THE ADDITIONS ARE BEING PROPOSED ARE TO BE TRACED TO THE VARIOUS JEWELLERY STARTING FROM 14.9.1992 AND ENDING ON 23.1.1995. THE AO ASKED TH E ASSESSEE TO PRODUCE THE PASSBOOK FROM A.Y 1993-94 ONWARDS SO THAT THE INVES TMENTS BEING RENEWED FROM YEAR TO YEAR COULD BE VERIFIED AND IT COULD BE ASCERTAINED WHEN THE SOURCE OF THE INVESTMENTS WAS GENERATED. THIS OBSERVATION OF THE AO ON THE BASIS OF WHICH THE ADDITION IS MADE ITSELF PROVES THAT SO FA R THE IMPUGNED ASSESSMENT YEAR IS CONCERNED, THE NATURE AND SOURCE OF THE INV ESTMENTS WERE DULY EXPLAINED. THE AO HIMSELF TOOK THE VIEW THAT THE INVESTMENTS O RIGINATE FROM A.Y 1993-94 TO A.Y 1995-96, THEREFORE, IF ANY ADDITION COULD HA VE BEEN MADE, THAT COULD HAVE BEEN MADE IN THE A.Y 1993-94 TO 1995-96. UNDER THE INCOME TAX ACT, EACH ASSESSMENT YEAR IS AN INDEPENDENT ASSESSMENT Y EAR. IF THE SOURCE OF THE INVESTMENT IS EXPLAINED IN THE EARLIER YEAR, IN OUR OPINION, IT CANNOT BE TREATED AS THE INCOME OF THE ASSESSEE IN THE SUBSEQUENT YEAR. DURING THE YEAR, AS IS APPARENT FROM THE EXPLANATION GIVEN BY THE ASSESSEE AND THE REMAND REPORTS OF THE AO DT. 26.10.2010 AND 14.3.2012, THE NATURE AND SOURCE OF THE INVESTMENTS AS EXPLAINED BY THE ASSESSEE HAS DULY BEEN ACCEPTED BY THE AO AS PER THE VERIFICATION CARRIED OUT BY HIM IN A MAJORITY OF TH E CASES. CIT(A), WE NOTED, DID NOT BOTHER TO LOOK INTO THE REMAND REPORTS DT. 26.1 0.2010 AND 14.3.2012 ALREADY ON RECORD BUT WENT ON CALLING ANOTHER REMAND REPORT FROM THE AO. CIT(A) PASSED HIS ORDER ON THE BASIS OF THE REMAND REPORT OF THE AO DT. 12.9.2012 RE- PRODUCING THE SAME. THE SAID REMAND REPORT NOWHERE DEALS WITH THE EXPLANATION OF THE ASSESSEE BUT WAS MADE IN A SUMMA RY MANNER SO THAT ADDITION MADE BY THE AO COULD BE SUSTAINED. CIT(A) WHILE CO NFIRMING THE ADDITION HAS ALSO NOT EXAMINED THE EXPLANATION OF THE ASSESSEE, WHETHER THE EXPLANATION GIVEN BY THE ASSESSEE IS A PLAUSIBLE ONE OR NOT. W E WOULD LIKE TO DEAL WITH EACH OF THE ADDITION AS UNDER FOR EACH OF THE A. YE AR : 17 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 1) FDR OF RS.48,000/- IN THE NAME OF V.K. PURI AND RS. 48,000/- IN THE NAME OF NEHA PURI, D-142 UTI BANK LTD. PUNE DT. 24. 3.1999 - WE NOTED THAT THE FDR IN THE NAME OF V.K. PURI HAS BEEN MADE OUT OF SAVINGS A/C NO. 980680 WITH COSMOS BANK VIDE CHEQUE NO. 690535 DEBITED ON 26.3.1999. ONE FDR HAS BEEN MADE OUT OF SAVINGS BANK ACCOUNT NO. 68067 9 BELONGING TO NEHA PURI VIDE CHEQUE NO. 690624. THE COPY OF THE PASSBOOKS ARE AVAILABLE AT PG. 63-64 AND 65. IN NONE OF THE BANK ACCOUNTS, WE NOTED, NO CASH HAS BEEN DEPOSITED BY THE ASSESSEE PRIOR TO MAKING OF THE FDR. IN OUR OP INION, THE SOURCE AND NATURE OF THE FDRS STANDS EXPLAINED. THE INTEREST ON THES E FDRS WAS DULY SHOWN IN A.Y 2002-03 ON RECEIPT BASIS IN THE INCOME OF AMITA PURI & NEHA PURI. WE ACCORDINGLY DELETE THE ADDITION OF THESE FDRS OF RS . 48,000/- EACH. 2) FDR WITH SYNDICATE BANK - THE AO MADE ADDITION OF RS.1,02,144/- IN RESPECT OF THIS FDR DT. 2.7.1998. THIS FDR, WE NOT ED, MADE OUT OF THE MATURITY AMOUNT OF FDR NO. 43726 DT. 2.7.1993 OF RS. 60,000/ - WHICH MATURED ON 2.7.1998 AND SUM OF RS.1,02,144/- WAS RECEIVED. TH IS HAS DULY BEEN SHOWN BY THE ASSESSEE IN HIS PAPER BOOK AT PG. 79-80. THE A O DULY ACCEPTED IN THE REMAND REPORT THAT THE INTEREST ON THIS FD HAS BEEN OFFERED TO TAX BY SMT. AMITA PURI AND HAS BEEN ACCEPTED BY HER AO. WE ACC ORDINGLY DELETE THIS ADDITION. 3) RS. 148/-DT. 3.3.1998 THE AO IN THE REMAND REP ORT AT PG. 258 TREATED IT TO BE INTEREST CREDITED TO SB A/C 31656. WE, THERE FORE, SUSTAIN THIS ADDITION. 4) RS. 68,123/- DT. 3.3.1998 - WE NOTED THAT IN H IS REMAND REPORT AT PG. 258 THE AO HAS ACCEPTED THAT THIS REPRESENTS THE AM OUNT DEPOSITED ON 3.9.1998 IN SB A/C NO. 36516, SYNDICATE BANK, DELHI OUT OF M ATURED AMOUNT OF RS.1,03,123/- AT SR. NO. 2. WE NOTED THAT THE MATU RED AMOUNT OF FDR OF RS.60,000/- AMOUNTING TO RS.1,02,144/- WAS PLACED I N FDR FOR 550 DAYS BEING 18 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) FDR NO. 44983 (COPY IN PAPER BOOK AT PG. 81) WHICH WAS ENCASHED AMOUNTING TO RS.1,03,123/-. OUT OF THIS, RS.68,123/- DEPOSIT ED IN SB A/C NO. 36516. THEREFORE, WE NOTED THAT THIS AMOUNT IS GENERATED O UT OF THE SUM OF RS.1,02,144/-. THEREFORE, WE DELETE THIS ADDITION. 5) RS.35,000/- DT. 21.8.1998 - THE AO IN THE REMA ND REPORT AT PG. 259 DULY ACCEPTED THAT THE FDR FOR RS.35,000/- WAS MADE OUT OF THE MATURITY AMOUNT OF RS.1,03,123/- WHICH WAS LEFT OUT AFTER DE POSITING RS. 68,123/- IN THE SB A/C. WE, THEREFORE, DELETE THIS ADDITION ALSO. 6) RS. 40,000/- DT. 31.7.1998 - THIS AMOUNT HAS B EEN DEPOSITED BY THE ASSESSEE IN CASH WHILE OPENING THE SB ACCOUNT NO. 6 1063 WITH HDFC BANK. THE ASSESSEE SUBMITTED THAT THIS AMOUNT IS DULY EXP LAINED IN THE CASH FLOW STATEMENT AT PG.100. WE PERUSED THE SAME AND WE NO TED THAT BEFORE DEPOSITING THIS AMOUNT, THE ASSESSEE HAS WITHDRAWN A SUM OF RS . 25,000/-, RS. 5,000/- AND RS. 20,000/- FROM UNION BANK ACCOUNT ON 22.5.1998, 29.5.1998 AND 6.7.1998 AND THE ASSESSEE HAS SHOWN THE ACCUMULATED BALANCE PRIOR TO THIS AT RS.2,94,650/-. THIS EXPLANATION OF CASH FLOW STATE MENT OF THE ASSESSEE WAS NOT REJECTED BY THE AO EVEN IN THE REMAND REPORT AV AILABLE AT PG. 259. WE, THEREFORE, DELETE THIS ADDITION. 7) RS.48,000/- DT. 3.3.2000 - THE ASSESSEE CLAIMS THAT NO SUCH DEPOSIT WAS MADE ON 9.9.1998. IN THE REMAND REPORT AT PG. 259 THE AO AGREED THAT THIS APPEARS TO BE THE CASE. WE, THEREFORE, DELETE THIS ADDITION. 8) RS. 40,000/- DT. 31.7.1998 - THE ASSESSEE CLAI MS THAT THIS IS DUPLICATION OF THE AMOUNT FOR OPENING SB ACCOUNT NO. 61063 AS S HOWN AT SR. NO. 6. THE AO HAS AGREED IN THE REMAND REPORT AT PG. 259 THAT IT APPEARS TO BE A REPETITION OF THE DEPOSIT. WE, THEREFORE, DELETE THIS ADDITION. 19 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 9) RS.2,48,327/- FROM 1.7.1998 TO 31.3.1999 (SBI BA NK ACCOUNT) THE ASSESSEE CLAIMS THAT DETAILS OF EACH ENTRY OF DEPOS IT MADE IN SB ACCOUNT NO. 34214 FROM 1.7.1998 TO 31.3.1999 ARE GIVEN AT PG. 1 22. THE AO IN HIS REMAND REPORT AT PG. 259, WE NOTED, AGREED THAT THIS SUM R EPRESENTS THE DEPOSIT MADE OUT OF SALARY ARREARS, DA, TA AND REFUND OF SECURITY DE POSIT. WE PERUSED PG. 122. WE NOTED THAT THE ASSESSEE HAS GIVEN EXPLANATION IN RESPECT OF EACH OF THE AMOUNT INCLUDED IN THE SUM OF RS.2,48,327/-. MOST OF THE AMOUNTS ARE OUT OF SALARY, DA. ONLY A SUM OF RS. 500/-, RS. 6,000/-, RS. 48,000/- AND RS. 11,000/- REPRESENTS CASH WHICH ASSESSEE CLAIMS TO HAVE BEEN WITHDRAWN FROM SBI. AT PG. 122 WE ALSO NOTED THAT THE ASSESSEE HAS GIVEN S UMMARY OF THE CASH WITHDRAWAL EVERY MONTH FROM SBI. THE TOTAL OF THE CASH WITHDRAWAL REPRESENTS RS. 2,07,000/- WHICH, IN OUR OPINION, IS SUFFICIENT TO EXPLAIN THE CASH DEPOSIT OF RS. 500/-, RS. 6,000/-, RS. 48,000/- AND RS. 11,000 /-. WE, THEREFORE, DELETE THE ADDITION OF RS. 2,48,327/-. 10) RS. 32,000/- DEPOSITED IN SBI FROM 15.3.1999 TO 17.3.1999 - RS. 10,000/- ASSESSEE CLAIMS IS OUT OF TA WHILE RS. 20, 000/- REPRESENTS CASH DEPOSIT OUT OF WITHDRAWAL OF RENT FROM PNB. THE AO IN THE REMAND REPORT AGREED WITH THE CONTENTION OF THE ASSESSEE ON PG.25 9. WE, THEREFORE, DELETE THE SAID AMOUNT. 11) RS. 1,48,450/- DEPOSITED IN SBI FROM 1.4.1999 T O 1.9.1999 - THE ASSESSEE CLAIMS THAT THIS AMOUNT DOES NOT RELATE TO THE SAID FINANCIAL YEAR. THE AO ALSO AGREED AT PG. 259 OF THE REMAND REPORT. TH EREFORE, IN OUR OPINION, THIS CANNOT BE ADDED IN THE IMPUGNED ASSESSMENT YEAR. T HEREFORE, WE DELETE THE SAME. 20 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 12) RS. 48,000/- DT. 9.9.98 - THE ASSESSEE CLAIMS THAT THIS INVESTMENT OF FDR IN HDFC BANK IS MADE OUT OF SB ACCOUNT NO. 6106 3, COPIES OF WHICH IS AVAILABLE AT PG. 139. WE VERIFIED PG. 139 OF THE P APERBOOK WHICH CONSISTS OF COPY OF HDFC BANK ACCOUNT OF THE RELEVANT PERIOD. WE NOTED THAT RS. 48,000/- HAS BEEN TRANSFERRED TO FD ON 11.9.98 OUT OF THE SA ID SB ACCOUNT AND PRIOR TO THAT ON 5.9.98 WE FIND A CREDIT OF RS.7,85,000/- TH ROUGH CHEQUE DEPOSIT. THIS FDR HAS NOT BEEN MADE AGAINST CASH DEPOSIT. WE, TH EREFORE, DELETE THE SAME. 13) RS.9,07,315/- FROM 31.7.98 TO 1.4.99 - THE AS SESSEE CLAIMS THAT THIS AMOUNT REPRESENTS THE FOLLOWING AMOUNTS : S.NO. DATE AMOUNT DETAILS OF CREDITS SUPPORTING DOCUMENT 1 31.07.1998 40000 CASH DEPOSITED TO OPEN THE SB A/ C I : CASH FLOW STATEMENT 2 05.09.1998 650 L&T DIVIDEND OF AMITA PURI II : BA NK OF MAHARASHTRA III : PUNJAB NATIONAL BANK IV : INDIAN OVERSEAS BANK 3 05.09.1998 785000 THREE DEMAND DRAFTS DEPOSITED; RS 3.40 LAKHS OF BANK OF MAHARASHTRA, DEHRA DUN; RS 2.95 LAKHS OF PUNJAB NATIONAL BANK, DELHI AND RS 1.50 LAKHS OF INDIAN OVERSEAS BANK, DEHRA DUN 4 01.10.1998 545 INTT 5 01.01.1999 422 INTT 6 23.01.1999 50000 CASH I : CASH FLOW STATEMENT 7 25.01.1999 30000 CASH I : CASH FLOW STATEMENT 8 01.02.1999 132 INTT 9 01.02.1999 132 INTT 10 01.02.1999 132 INTT 11 01.02.1999 132 INTT 907145 12 01.04.1999 170 INTEREST RELATES TO 1.4.99 I.E. AY 00-01 907315 THE AO IN HIS REMAND REPORT APPEARING AT PG. 259 AG REED THAT RS.7,85,000/- ARE MADE OUT OF PROCEEDS OF OTHER FDRS AND INTEREST AND OFFERED TO TAX BY AMITA PURI AND RS. 1,20,000/- REPRESENTS CASH DEPOSIT INC LUDED IN THE CASH FLOW STATEMENT. WE ALSO NOTED THAT THE ASSESSEE HAS GIV EN THE FULL DETAILS OF THE 21 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) DEPOSIT; THAT RS. 3,40,000/- IS OUT OF MATURITY OF EARLIER DEPOSIT, RS. 2.95 LACS OUT OF MATURITY OF EARLIER DEPOSIT WITH PNB, RS. 1.5 LA C OUT OF MATURITY OF EARLIER DEPOSIT WITH INDIAN OVERSEAS BANK. DETAILS ARE AVA ILABLE AT PG. 141-148. THEREFORE, IN OUR OPINION, THE SOURCE OF RS.7,85,00 0/- STANDS DULY EXPLAINED. SUM OF RS. 1,20,000/- HAS BEEN DEPOSITED IN CASH, R S. 650/- REPRESENTS THE DIVIDEND OF AMITA PURI. WE DELETE THIS ADDITION OF THE DIVIDEND ALSO. REST OF THE AMOUNTS REPRESENTS BANK INTEREST WHICH HAS TO B E TAKEN AS THE INTEREST INCOME OF THE ASSESSEE. SO FAR THE SUM OF RS. 1.2 LACS IS CONCERNED, NO DOUBT, THE ASSESSEE HAS SUBMITTED THE CASH FLOW STATEMENT WHICH IS APPEARING AT PG. 100-101. THE SUM OF RS. 40,000/- WE HAVE ALREADY CO NSIDERED WHILE DELETING THE ADDITION OF RS. 40,000/- AT SR. NO. 6 ON 31.7.9 8. THEREFORE, THIS CANNOT BE CONSIDERED TO BE THE SOURCE. SO FAR AS THE SUM OF RS. 50,000/- AND RS. 30,000/- ARE CONCERNED, WE NOTED THAT THE ASSESSEE HAS SUBMI TTED THE CASH FLOW. PRIOR TO DEPOSIT OF THIS AMOUNT, THE ASSESSEE WAS HAVING CASH IN HAND IN CASH FLOW OF RS. 3,89,800/-. THEREFORE, OUT OF SUM OF RS. 1.2 L ACS WE DELETE ADDITION OF RS.80,000/- AND CONFIRM THE ADDITION OF RS. 40,000/ -. WE ALSO CONFIRM THE ADDITION OF THE AMOUNT WHICH REPRESENTS THE INTERES T. REST OF THE ADDITION OF RS.8,65,650/- THEREFORE STANDS DELETED OUT OF SUM O F RS.9,07,315/-. 14) RS. 40,000/- DT. 1.5.98 - THIS REPRESENTS INV ESTMENT IN FD IN THE NAME OF DIVYA PURI IN CENTRAL BANK. ASSESSEE EXPLAINED THA T THE 2 FDRS OF RS. 40,000/- WAS MADE IN CENTRAL BANK ON 1.5.98 FROM PN B. BENEFIT OF RS. 40,000/- WAS GIVEN IN THE ASSESSMENT ORDER IN THE N AME OF V.K. PURI. INTEREST IS OFFERED TO TAX BY DIVYA PURI IN 2002-03. WE NOTED UNDER NOTE (B) AT PG. 261 IN THE REMAND REPORT, THE AO HAS ACCEPTED THAT THIS DE POSIT IS FOUND TO ORIGINATE FROM THE ASSESSEES BANK ACCOUNT NO. 64921 WITH PNB , DEHRADUN. WE, THEREFORE, DELETE THIS ADDITION. 22 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 16) RS. 55,000/- DT. 18.4.98 - THIS REPRESENTS FD R MADE WITH GLOBAL TRUST BANK, NARIMAN POINT, MUMBAI. THE ASSESSEE CLAIMS T HAT THIS AMOUNT IS MADE AND SHOWN IN THE CASH FLOW STATEMENT, INTEREST IS O FFERED IN THE CASE OF AMITA PURI IN A.Y 1999-00. WE NOTED THAT THE AO AGREED T HAT THE AMOUNT HAS BEEN SHOWN IN THE CASH FLOW STATEMENT BUT DID NOT EXPRES S ANY OPINION ABOUT THE ACCEPTANCE OF THE SOURCE. WE PERUSED THE CASH FLOW WHICH IS AVAILABLE AT PG. 100-101 OF THE PAPER BOOK RELATING TO THE IMPUGNED ASSESSMENT YEAR. WE NOTED THAT THE ASSESSEE HAS SHOWN THE OPENING BALANCE OF RS.3,74,650/- AND CLAIMED THE AMOUNT IS UTILIZED OUT OF THIS AMOUNT. NO EVID ENCE HAS BEEN PRODUCED BEFORE US THAT THE SAID AMOUNT HAS BEEN SHOWN IN TH E WEALTH TAX RETURN. WE, THEREFORE, DO NOT ACCEPT THE EXPLANATION OF THE ASS ESSEE AND TREAT IT TO BE THE UNDISCLOSED INCOME AND SUSTAIN THE ADDITION OF RS.5 5,000/- AS HAS BEEN ADDED BY THE AO. 17) RS.48,000/- & RS. 48,000/- DT. 10.9.98 - THIS REPRESENTS THE FDR OF RS.48,000/- IN THE NAME OF V.K. PURI AND NEHA PURI EACH RESPECTIVELY DT. 10.9.98 MADE IN GLOBAL TRUST BANK, PUNE THROUGH SB ACCOUNT NO. 61063. TWO AMOUNTS OF RS. 48,000/- HAVE BEEN DULY DEBITED IN S B A/C NO. 6106 WITH HDFC BANK ON 10.9.98 AND THEREFORE THIS AMOUNT REPRESENT S THE FDR BEING MADE OUT OF THE SUM OF RS. 7.85 LACS CREDITED IN THE SB ACCO UNT WHICH HAS BEEN CONSIDERED AT SR. NO. 13. WE, THEREFORE, DELETE TH E ADDITION OF RS. 48,000 X 2 = RS. 96,000/-. 18) RS. 40,000/- - THE ASSESSEE CLAIMS THIS FDR I S NOT IN EXISTENCE. WE NOTED THAT THE AO IN THE REMAND REPORT AT PG. 261 A LSO AGREED THAT NO SUCH FDR DT. 10.9.98 EXISTS. WE, THEREFORE, DELETE THE SAID ADDITION. 19) THREE FDRS OF RS. 48,000/- EACH IN GLOBAL TRUST BANK IN THE NAMES OF V.K. PURI, AMITA PURI & NEHA PURI. WE NOTED THAT T HESE TWO FDRS DT. 10.3.99. 23 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) THESE FDRS HAVE BEEN MADE OUT OF CASH ALTHOUGH THE ASSESSEE CLAIMS THAT THESE FDRS HAVE BEEN MADE OUT OF CASH FLOW STATEMEN T AT PG. 101 OUT OF CASH IN HAND OF RS.2,79,100/-. WE NOTED THAT IN THE CAS H FLOW STATEMENT THE ASSESSEE HAS DULY SHOWN THIS FDR BUT IN THE REMAND REPORT THE AO HAS NOT GIVEN ANY COMMENT. SINCE WE HAVE ALREADY DOUBTED T HE OPENING CASH BALANCE OF RS. 3,74,650/- AND THE SUM OF RS. 2,79,100/- NAT URALLY REPRESENTS THE BALANCE OPENING BALANCE, WE, THEREFORE, ARE NOT SATISFIED W ITH THE EXPLANATION OF THE ASSESSEE AND SUSTAIN THE ADDITION IN RESPECT OF THE SE TWO FDRS OF RS. 48,000/- EACH AMOUNTING TO RS. 96,000/-. 20) RS. 48,000/- DT. 12.9.98 - THIS REPRESENTS FD R BEING MADE WITH INDUSIND BANK, PUNE. THIS FDR, WE NOTED, HAS BEEN MADE OUT OF SB A/C NO. 61063 AND DEBITED ON 10.9.98. THE AO ALSO AGREED WI TH THIS AT PG. 260 OF THE PAPER BOOK. THEREFORE, WE DELETE THIS ADDITION. 21) RS. 48,000/- EACH - THIS REPRESENTS 2 FDRS OF RS. 48,000/- WITH HDFC BANK DT. 10.9.98. WE NOTED THAT THESE FDRS ARE ALS O MADE OUT OF HDFC BANK ACCOUNT, PUNE BEING A/C NO. 61063 ON 12.9.98 OUT OF THE PROCEEDS OF RS. 7.85 LACS AS HAS BEEN CONSIDERED AT SR. NO. 17. WE, THE REFORE, DELETE THIS ADDITION. 22) RS. 40,000/- DT. 20.7.98 - THE ASSESSEE CLAIM S NO SUCH FDR WITH SRF WAS MADE BY THE ASSESSEE DURING THE YEAR BUT WE COU LD NOT FIND ANY SUCH FDR DT. 20.7.98. THIS FDR RELATES TO A.Y 2000-01. THE AO ALSO CONFIRMED THE SAME IN THE REMAND REPORT. WE ACCORDINGLY DELETE THIS A DDITION. 23) RS. 525/-, RS.525/- AND RS. 525/- - THIS REPR ESENTS INTEREST RECEIVED ON TATA BONDS ON 1.11.98. THE ASSESSEE CLAIMS THAT IN TEREST IN THE NAMES OF V.K. PURI, NEHA PURI & DIVYA PURI WAS ALSO OFFERED TO TA X BY AMITA PURI AND ALL THE FIGURES ARE INCLUDED IN THE STATEMENT OF AFFAIRS OF AMITA PURI. THE AO ALSO 24 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) AGREED THAT THE INTEREST HAS BEEN SHOWN IN THE HAND S OF AMITA PURI IN THE REMAND REPORT AT PG. 260. WE ACCORDINGLY DELETE TH IS ADDITION. 24) RS. 48,000/- DT. 9.9.98 - THIS REPRESENTS FIX ED DEPOSIT IN HDFC DT. 9.9.98. THIS ACCOUNT SINCE HAS NOT BEEN ADDED IN T HE HANDS OF THE ASSESSEE, WE, THEREFORE, HAVE NOT GIVEN ANY FINDING. 25) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- - THIS REPRESENTS THREE FDRS OF RS. 11,000/- WITH BLOW PLAST LTD. THE ASSESSEE HAS SUPPLIED THE LETTER FROM BLOW PLAST AVAILABLE AT PG. 175-177 SHOWING THAT TH ESE ARE RENEWALS OF THE EARLIER INVESTMENT DT. 17.3.96. SINCE INVESTMENTS ARE NOT MADE DURING THE YEAR, WE, THEREFORE, DELETE THIS ADDITION. 26) RS.55,354/- - THIS REPRESENTS DEPOSIT IN SYND ICATE BANK DT. 26.3.99. THIS HAS NOT BEEN ADDED IN THE HANDS OF THE ASSESSE E. 27) RS. 48,000/- AND RS. 65,361/- DT. 5.9.98 - SO FAR INVESTMENT OF RS.65,361/- IS CONCERNED, NO SUCH INVESTMENT HAS BE EN MADE. THIS REPRESENTS THE MATURITY AMOUNT ON 10.2.2002 AGAINST ORIGINAL I NVESTMENT OF RS. 48000/-. WE, THEREFORE, DELETE ADDITION OF RS. 65,361/-. SO FAR THE SUM OF RS. 48,000/- IS CONCERNED, THIS FDR HAS BEEN MADE BY THE ASSESSEE I N CASH ON 5.9.98. THE ASSESSEE CLAIMS IT TO HAVE BEEN MADE OUT OF CASH FL OW STATEMENT. BEFORE MAKING THIS FDR WE NOTED THAT THE ASSESSEE WAS HAVI NG CASH IN HAND OF RS.4,37,800/- IN THE CASH FLOW STATEMENT WHICH WAS MORE THAN THE OPENING BALANCE OF RS. 3,74,650/-. WE, THEREFORE, DELETE T HIS ADDITION. 28) RS. 13,000/- DT. 9.2.99 - WE NOTED THAT IN TH E REMAND REPORT AT PG. 260 THE AO CLEARLY STATED THAT THIS APPEARS TO BE PART OF THE TOTAL INTEREST OF 25 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) RS.21,288/- ACCRUED ON FDR NO. 7223 WITH PNB, DEHRA DUN AND DECLARED IN THE HANDS OF SMT. AMITA PURI. WE ACCORDINGLY DELETE THI S ADDITION. 29) RS. 48,000/-, RS. 48,000/- AND RS. 48,000/- DT. 17.3.99 - WE NOTED THAT THESE 3 INVESTMENTS HAVE BEEN MADE OUT OF THE RESPE CTIVE SAVINGS ACCOUNT NO. 980680, 980679 AND 980677 OF V.K. PURI, NEHA PURI A ND DIVYA PURI. THESE AMOUNTS HAVE BEEN DEPOSITED IN THE POST OFFICE MIS AND DULY BEEN DEBITED IN THE RESPECTIVE SB ACCOUNT COPY OF WHICH IS AVAILABL E AT PGS. 63-65. THE AO ALSO ACCEPTED THIS FACT IN HIS REMAND REPORT AT PG. 260. WE ACCORDINGLY DELETE THIS ADDITION. 4.4 THUS, GROUND NOS. 2 TO 5 RELATING TO ADDITION O F RS. 25,81,443/- ARE PARTLY ALLOWED. 5. GROUND NOS. 6 TO 9 RELATES TO THE SUSTENANCE OF THE ADDITION OF RS.2,06,514/- BEING THE INTEREST ACCRUED @ 8% ON TH E INVESTMENTS. WE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY CONSIDERED THE SAME. WE PERUSED THE REMAND REPORT DT. 14.3.2012 AS HAS BEEN VEHEMENTLY RELIED BY THE LD. AR. WE NOTED THAT THE ASSESSEE WAS SHOWING THE INTEREST IN COME ON CASH BASIS. THIS HAS NOT BEEN DISPUTED BY THE REVENUE. WE ACCORDING LY DELETE THE ADDITION MADE BY THE REVENUE IN RESPECT OF THE INTEREST ON A CCRUAL BASIS. THUS, GROUND NOS. 6 TO 9 ARE ALSO ALLOWED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. ITA NO. 1858/KOL/2012 (A.Y : 2000-2001) : 7. GROUND NO. 1 SINCE NOT PRESSED, DISMISSED AS NOT PRESSED. 26 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 8. GROUND NOS. 2 TO 5 RELATES TO THE ADDITION OF RS . 24,75,882/-. AFTER HEARING THE RIVAL SUBMISSIONS, WE NOTED THAT THE AO HAD MADE THE ADDITION OF THE SAID AMOUNT OF 24,75,882/- IN RESPECT OF FDR/DE POSITS FOUND IN THE FOLLOWING NAMES : V.K. PURI RS. 11,72,424/- NEHA PURI RS. 7,28,573/- DIVYA PURI RS. 5,74,885/- TOTAL RS. 24,75,882/- THE AO ON THE BASIS OF THE DETAILS OF THE INVESTMEN TS UNEARTHED BY THE CBI AS DETAILED BELOW MADE THESE ADDITIONS. SL. NO. DESCRIPTION V K PURI AMITA PURI DIVYA PURI NEHA PURI 1 D-419 DD NO. 313721 BOM TRAVEL SYSTEM LTD. 60,621 2 D-67 PAGE 1793 A/C 36050 11.11.99 TO 29.3.2000 CENTRAL BANK OF INDIA, NEW DELHI 18,263 3 D-144 ICICI BANK DATED 21/4/99 FDR NO 533788, 533782 48,000 48,000 4 D-332 CANARA BANK 0318492 DT. 23/2/2000 75,778 5 D-149 PAGE 1721, 1727, 1732 ICICI BANK LTD., PUNE DT. 15/4/99 48,000 48,000 48,000 48,000 6 D-156 PAGE 1573 FDR 8/8/99 17/8/99 SYNDICATE BANK, DELHI 8/9/99 (23392 - 21696) VCC 44,988 22,666 50,000 7 D-297, D-296 VCC 265163, 265162, 6/5/99 D-298 VCC 265167 DT. 8/5/99 15,000 50,000 45,000 8 D-473 HDFC BANK DEPOSITS 3/5/99 TO 31/3/2000 2,95,471 9 D-169 PAGE 1266 A/C NO. 18738 HDFCBL DT. 8/4/99358 IDBI BOND 18/3/98 48,000 10 D-622 SRF LTD TDR NO. 710214, 15, 16, 17 DT. 6/10/99 11,000 11,000 11,000 11,000 11 TATA IRON & STEEL 525 525 525 525 12 D-418 CDR BANK OF MAHARASHTRA DT. 16/3/2000 45,000 13 D-122 MIS POST OFFICE TERM DEPOSIT DT. 1/4/99 1564, 1565, 1568, 1566 48,000 48,000 48,000 48,000 14 D-58 CENTRAL BANK PAGE 1509 50,000 23,000 27 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) MMDC 724140/724142 18/5/99 & 8/5/1999 15 D-668 IL & FSL FDR NO. 57954, 57952, 57958 DT. 14,000 14,000 14,000 14,000 16 PAGE 1307 SYNDICATE BANK A/C NO. 12587, 12586, 12588 & 12589 VCC DT. 8/12/99 49,000 49,857 49,000 17 PAGE 1285 SBI DEPOSITS FROM 10/9/99 TO 31/3/2000 1,16,000 18 PAGE NO. 1277, 1275, 1271, 1273 THE CCBK LTD, PUNE, DT. 10/6/99 50,000 50,000 50,000 50,000 19 PAGE 1220 BANK OF MAHARASHTRA TERM D 6/8/99, 18/8/99, 16/3/200 45,000 50,000 45,000 45,000 20 22/7/99 86,374 5,089 25,156 8,844 21 D-558 PAGE 1200, 1999, 1201, 1202 ION EXCHANGE (INDIA) LTD. KOTAK SECURITIES 12,000 12,000 12,000 12,000 22 D-553 PAGE 1178, 1176, 1179, 1180 ROOFIT INDIA LTD 27/8/99 11,000 11,000 11,000 11,000 23 D-530 TITAN INDIA LTD. 1/12/99 880, 883, 881 & 882 15,000 15,000 15,000 15,000 24 D-522 BAJAJ TEMPO LTD. PAGE 814, 812, 813 & 814 DT. 16 - 21/8/99 12,000 12,000 12,000 12,000 25 D-517 MUKUND ENGINEERS LTD. PAGE 790 DT. 5/1/2000 A-941. 943, 944 & 942 12,000 12,000 12,000 12,000 26 PAGE 785 A 27078, 075, 077 & 076 DT. 2/9/99 12,000 12,000 12,000 12,000 27 D-576 RPG CABLE LTD. PAGE 461 FDR NO. 104529, 30, 27, 28 10/2/00 12,000 12,000 12,000 12,000 28 D-575 PAGE 450 MOREPEN LABORATORIES LTD. BOMDX 6372, 02000, 1996, 1999 11,000 11,000 11,000 11,000 29 D-574 CAMPHOR & ALLIED PRODUCTS LTD. PAGE 441 DATED 23/6/99 FDR NO. 32388, 32390, 32387, 32389 11,000 11,000 11,000 11,000 30 D-573 SRI ADHIKARI BROS TELEVISION NET WORK LTD. PAGE 436 FDR NO. 50186, 185, 188, 187 11,000 11,000 11,000 11,000 31 D-572 PAGE 407 M/S. NAGARJUNNA FERTILIZERS & CHEMICALS LTD. 26/4/99 FDR NO. C-036160, 23809, 3810, 23807, 23808 12,000 12,000 12,000 12,000 32 D-569 PAGE 362 DT. 5-9/4/99 ASHIMA LIMITED FDR NO. C-37057, 55, 56, 58 11,000 11,000 11,000 11,000 33 D-566/PAGE 315/20/8/99 BERGER PAINTS INDIA LTD. CM 3/36/8296, 99,97,98 12,000 12,000 12,000 12,000 34 D-565/PAGE 308 DT. 31/12/99/6/1/00 USHA BELTRON LTD. FDR NO. 0509468, 67, 66, 69 11,000 11,000 11,000 11,000 35 D-564 PAGE 302 31/12/99/ 13,000 13,000 13,000 13 ,000 28 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 7/1/00 ZUARI INDUSTRIES LIMITED FDR NO. 7453040, 41, 39, 42 36 D-608 PAGE-784 DT. 11/11/99 CAMCO CORPORATE S. LTD. FDR SPIC 505190, 191, 193, 192 INTT. 6,204 6,204 6,204 6,204 37 D-605 STEELAGE INDUSTRIES LTD. PAGE 732, 10/4/99 FDR NO. 7593, 7591, 7590, 7591 12,000 12,000 12,000 12,000 38 S-604 PAGE NO. 726 1/12/99 KALYANI STEELS LTD. FDR NO. 48859, 860, 861, 858 12,000 12,000 12,000 12,000 39 D-603 THE ALLIANCE BUY INDIA FUND PAGE 717 31/12/99 ANM 01892, 1776, 1891, 1890 10,000 10,000 10,000 10,000 40 D-PAGE 575 DATAMATIC LTD., 1- 6/11/99 FDR NO. 25921, 926, 927, 922 12,000 12,000 12,000 12,000 41 D-618 PAGE 134 THE DHARAMSI MORARJI CHEMICALS CO. LTD. 19/8/99 FDR NO. 96C 02889, 2902 11,000 11,000 42 D-596 APCOTEX LATTICES LTD. PAGE 679 22/11/99/ 3/12/999 FDR 352, 354, 353, 351 12,000 12,000 12,000 12,000 43 PAGE 712 BALLARPUR INDUSTRIES LTD 16/8/99 FDR BOM/FD/975, 976, 977, 978/ 185283, 284, 285, 286 12,000 12,000 12,000 12,000 44 D-27(II) ANZ GRINDLAYS BANK PAGE 1233 24/4/99, 277(II) 59,663 59,663 45 1,241 11,390 46 278(II) 1242, 1243, 1244 1/4/99/ 24/4/99 64,578 64,578 47 FDR PNB A/C NO. 7223 11/3/00 71,228 48 FDR INTT. 8,288 49 D-544 PAGE 1074 EXCEL INDUSTRIES LTD. 17/8/99 FDR NO. 115316, 17, 424, 319 12,000 12,000 12,000 12,000 50 D-543 PAGE 1070 BHARAT BIJLEE LIMITED FDR NO. 302653, 653, 650, 651 11,000 11,000 11,000 11,000 TOTAL 36,70,471/- 12,17,424 11,49,589 5,74,885 7,28,573 FROM THIS CHART, IT IS APPARENT THAT THE AO HAS NOT MADE ANY ADDITION IN RESPECT OF DEPOSIT/FDR FOUND IN THE NAME OF AMITA PURI. TH E ASSESSEE SUBMITTED THE FOLLOWING EXPLANATION : SL. NO. PARTICULARS AMOUNT (RS.) PAPER BOOK I (PAGE NO.) SOURCE/REMARKS 1 DEMAND DRAFT DATED 60621 46-47 AMOUNT OF RS.60743 /- DEBITED 29 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 07.09.1999 MADE FAVOURING TRAVEL AGENT BANGALORE FROM SB A/C NO. 3 OF AMITA PURI IN BANK OF MAHARASHTRA, PUNE ON 7/9/99 PAGE 47. RS.122/- IN DD COMMISSION PAGE 46. OUT OF AMOUNTS BELONGING TO AMITA PURI WHO IS ASSESSED INDEPENDENTLY. 3 D - 144; FD IN ICICI BANK, BUND GARDEN, PUNE DATED 21.4.99 48,000 49 - 50, 55 THE INVESTMENT (D - 144) IS IN THE NAME OF AMITA PURI &IS MADE IN CASH ON 21.4.99. SEE CASH FLOW STATEMENTS (S.NO. 9) PAGE 57 AND SUPPORTING DOCUMENTS AT PAGES 58-62 GIVING DETAILS OF WITHDRAWAL/DEPOSIT OF CASH. INTEREST OFFERED TO TAX BY AMITA PURI IN AY 2002-03. 5 FDS IN ICICI BANK, SHIVAJI NAGAR, PUNE DATED 15.4.99 IN THE NAME OF V K PURI. NO SUCH FDS IN THE NAMES OF NEHA PURI AND DIVYA PURI (A) 48,000 V K PURI (B)48,000 NEHA PURI (C) 48,000 DIVYA PURI 78-83 (A) THE INVESTMENT IN THE NAME OF V K PURI MADE IN CASH ON 15.4.99. SEE CASH FLOW STATEMENTS (S.NO. 6) PAGE 57 AND SUPPORTING DOCUMENTS AT PAGES 58-62 GIVING DETAILS OF WITHDRAWAL/DEPOSIT OF CASH. INTEREST OFFERED TO TAX BY AMITA PURI IN AY 2002-03 AND ASSESSED ACCORDINGLY. (B) & (C) THERE ARE NO SUCH FDS OF RS.48,000/- EACH IN THE NAMES OF NEHA PURI & DIVYA PURI. EVEN A.O IN HIS REMAND REPORTS HAS VERIFIED THAT NO SUCH FDS EXIST. 6 RS.44,988/ - IS INTEREST RECEIVED ON 8.5.99 FROM TWO FDS IN SYNDICATE BANK, DELHI IN SB A/C 36516, SYNDICATE BANK, DELHI NO FD OF NEHA PURI (A) 44,988 V K PURI (B) 50,000 NEHA PURI 86 - 87 (A) RS.44,988 (RS.23,392/ - + RS. 21,696/-). RS. 23,392/- IS THE INTEREST RECEIVED FROM FD NO 42183, DATED 6.5.96 OF RS.50,000/- AND RS.21,696/- IS THE NET AMOUNT RECD. FROM FD NO. 42182, DATED 6.5.96 OF RS. 25,000/-. BOTH FDS IN SYNDICATE BANK, DELHI MATURED ON 6.5.99 SEE PAGES 86-87. THE SAME WERE DEPOSITED IN SB A/C 36516 ON 8.5.99 SEE SB A/C AT PAGE 92. THE INTEREST ON THESE FDS WERE OFFERED TO TAX BY AMITA PURI IN 30 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) AY 2000-01 AND ASSESSED ACCORDINGLY SEE PAPERBOOK PART II. (B) NO SUCH FD OF NEHA PURI EXISTED FOR RS.50,000. A.O IN REMAND REPORT HAS ALSO CONFIRMED NON-EXISTENCE OF SUCH FD AFTER VERIFICATION. 7 FDS IN SYNDICATE BANK, NEW DELHI DATED 6.5.99 AND 8.5.99, RESPECTIVELY (A) 15,000 V K PURI (B) 45,000 NEHA PURI 90-91 92 (A) THIS FD REPRESENTS THE INVESTMENT IN FD FOR RS.15,000/- NO. 47972, DATED 6.5.99 OUT OF MATURITY AMOUNT OF RS.36696/- RECEIVED OF THIS EARLIER DEPOSIT OF RS.25000/- (REFERRED AT S.NO. 6 ABOVE) PAGES 86-87. COPY OF FD AT PAGE 90. INTEREST OF RS 4586/- ON THIS FD OF RS.15,000/- OFFERED TO TAX BY AMITA PURI IN AY 2002-03 SEE PAGE 91. (B) THIS FD INVESTMENT OF RS.45,000/- NO 47977 IN THE NAME OF NEHA PURI WAS MADE ON 8.5.99 VIDE DEBIT IN SB A/C 36516 AND USING RS.44,988/- DEPOSITED IN THE SAID A/C AS REFERRED TO ABOVE INTEREST ON THIS FD OFFERED TO TAX BY NEHA PURI IN AY 2002-03 SEE PAGES 90-92. 8 DEPOSIT IN HDFC BANK, PUNE FROM 3/5/99 TO 31/3/00 295,471 93 - 95 RS. 295,471/ - IS THE SUM OF VARIOUS CREDIT ENTRIES IN SB A/C NO 61063 FROM 5/5/99 TO 31/3/00. DETAILS OF AMOUNTS CREDITED ARE GIVEN AT PAGE 96 AND GIVES DETAILS OF ANNEXURES. THE SUPPORTING DOCUMENTS ARE IN ANNEXURES WHICH ARE LETTERS FROM COMPANIES/BANKS, FD RECEIPTS, REDEMPTION OF MUTUAL FUNDS, INTEREST FROM IDBI BONDS, CHEQUE RETURNED ETC. PAGES 97- 116. THE SAME ARE ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI SUBMITTED TO I.TAX, MUMBAI AT PAGES 64-72. INTEREST RECEIVED IN ALL THESE CASES HAVE 31 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) BEEN OFFERED TO TAX BY AMITA PURI OR NEHA PURI IN THIS ASSESSMENT YEAR . RS. 50,000/- + RS.6,000/- DEPOSITED IN CASH ARE REFLECTED IN CASH FLOW STATEMENTS (S. NOS. AT 15 & 31) AT PAGE 57. ALL THESE DETAILS HAVE BEEN VERIFIED BY A.O BEFORE SUBMITTING REMAND REPORTS. 9 FD DEPOSIT IN IDBI BANK PUNE IN THE NAME OF NEHA PURI DATED 9.4.99 48,000 58 THIS FD IN THE NAME OF NEHA PURI MADE IN CASH, OUT OF CASH WITHDRAWAL OF RS. 48,000 ON 7.4.99 IN HER NAME FROM SB A/C NO 980680, COSMOS BANK, PUNE . SEE PAGE 58 (REVERSE). ALSO REFLECTED IN CASH FLOW STATEMENT AT PAGE 57 (S NO. 4). INTEREST ON THIS FD OFFERED TO TAX IN AY 2002-03 BY NEHA PURI. 10 FD IN SRF LTD DATED 5.10.99 11,000 11,000 11,000 118 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 5.10.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 118, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 11 INTEREST RECEIVED FROM TATA IRON & STEEL BONDS DATED 1.11.99 525 525 525 125-127 INTEREST IN THE NAMES OF V K PURI, NEHA PURI AND DIVYA PURI OFFERED TO TAX BY AMITA PURI AND NEHA PURI IN A.Y 2000-01 AND ASSESSED ACCORDINGLY. ALSO FIGURES IN STATEMENT OF AFFAIRS OF AMITA PURI PAGE 67 (S. NO. 11) 12 FD IN BANK OF MAHARASHTRA, PUNE DATED 16.3.2000 45,000 149 THIS INVESTMENT IN THE NAME OF DIVYA PURI FOR RS. 45,000/- WAS MADE ON 16.03.2000 THROUGH DEBIT IN THE SB A/C NO. 2 OF THE V K PURI WITH BANK OF MAHARASHTRA, PUNE. SUCH DEBIT IS REFLECTED IN BANK STATEMENT AT PAGE 149 OF PAPERBOOK. OUT OF 32 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) SALARY OF V K PURI. 13 POST OFFICE MIS TERM DEPOSIT DATED 17.3.99 RELATES TO A.Y 1999- 00 48,000 48,000 48,000 SEE PAGES 192, 188, 194 OF PAPER BOOK FOR AY 1999- 00 THESE INVESTMENTS MADE ON 17.3.1999. THESE ARE ALREADY REFLECTING AT S.NO 29 OF CHART FOR AY 1999-00. THESE HAVE BEEN WRONGLY SHOWN ONCE AGAIN IN THIS AY. THE DEPOSITS HAVE BEEN MADE IN AY 1999-00 BY DEBIT IN SB A/CS IN COSMOS BANK, PUNE. 14 FD IN CENTRAL BANK, NEW DELHI DATED 8.5.99 23,000 144 RS 23,000/ - IS AN INVESTMENT WITH CENTRAL BANK, DELHI MADE IN THE NAME OF NEHA PURI ON 08.05.1999 BY DEBIT OF SB A/C NO. 32577 IN THE SAID BANK AND OUT OF INTEREST AMOUNT OF RS.23,390/- CREDITED IN SB A/C ON 8.5.99. REFLECTED AT PAGE 144 OF PAPERBOOK. ON MATURITY NEHA PURI HAS PAID TAX ON INTEREST INCOME. 16 FDS IN ILFS RENEWAL OF FDS DATED 31.3.00 14,000 14,000 14,000 136-141 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN RENEWED ON 31.3.2000. THIS IS CLEAR FROM ORIGINAL AND RENEWAL FORMS AT PAGES 136-141. INTEREST ON THESE RENEWED FDS NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. EARLIER TAX RECEIVED OFFERED TO TAX BY AMITA PURI & NEHA PURI AND ASSESSED ACCORDINGLY. 17 INVESTMENTS IN FDS IN SYNDICATE BANK, MUMBAI DATED 6.3.99 AND 26.3.99, RESPECTIVELY 49,000 49,000 142 143 FD NO. 7609, DATED 6.3.96 OF RS.41,544/- MATURED ON 6.3.99 FOR RS.60,980/-. THE FIRST OF THIS FD IS MADE ON 6.3.99 OUT OF THIS AMOUNT OF RS.60,980/-. PLEASE REFER TO LETTER OF BANK DATED 24.10.2002 AT PAGE 142. RELATES TO AY 1999-00. SECOND FD FOR RS.49,000/- IN THE NAME OF NEHA PURI WAS MADE ON 26.03.1999 BY DEBIT IN SB A/C NO. 9538 WITH SYNDICATE BANK, MUMBAI. THIS WAS OUT OF AMOUNTS OF RS.11,980/-, 33 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) RS.28,696/- AND RS.14,678/- CREDITED IN SB A/C ON 21.3.99 PAGE 143. RELATES TO AY 1999- 00. 19 FDS IN COSMOS BANK, PUNE ALL DATED 10.6.99 50,000 50,000 50,000 145 - 148 THE INVESTMENTS ARE REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGE 71 OF PAPER BOOK THESE ARE INVESTMENTS OF RS.50,000/- EACH MADE ON 10.06.1999 IN THE NAMES OF V K PURI, NEHA PURI AND DIVYA PURI BY DEBIT ON 10.6.99 OF SB A/CS 980680, 980677 AND 980679 IN COSMOS BANK, PUNE PAGE 145- 148. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGE 197. INTEREST INCOME OFFERED TO TAX BY AMITA PURI, NEHA PURI AND DIVYA PURI IN AY 2002-03. 20 BANK OF MAHARASHTRA DATED 16.3.2000 AND 6.8.99, RESPECTIVELY 45,000 45,000 152 THE FIRST OF THESE INVESTMENTS FOR RS.45,000/- DATED 16.03.2000 IN THE NAMES OF DIVYA PURI IN THE BANK OF MAHARASHTRA, PUNE IS A REPETITION OF INVESTMENT OF SAME AMOUNT AND DATE IN THE NAME OF DIVYA PURI SHOWN AT SL. NO. 12 ABOVE. THE SECOND INVESTMENT IN THE NAME OF NEHA PURI DATED 06.08.1999 HAS BEEN MADE THROUGH DEBIT IN THE SB A/C NO. 226/34214 AT STATE BANK OF INDIA, PUNE, IN FAVOUR OF THE BANK OF MAHARASHTRA, PUNE PAGE 152 (OUT OF RS.90,000/- DEBITED AND THE OTHER FD OF RS.45,000/- IS IN THE NAME OF V K PURI OF WHICH BENEFIT HAS BEEN EXTENDED BY THE A.O). NEHA PURI HAS PAID TAX ON INTEREST INCOME IN AY 2004-04. 21 22/7/99 86,374 25,156 8,844 - IT IS NOT UNDERSTOOD WHAT THESE AMOUNTS ARE AS NO DETAILS HAVE BEEN PROVIDED EXCEPT DATE 22/7/99. NO SUCH INVESTMENTS HAVE BEEN MADE ON 22/7/99. EVEN A.O. HAS CONFIRMED IN 34 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) REMAND REPORTS NON-EXISTENCE OF SUCH INVESTMENTS/RECEIPTS AT PAGE 278 OF PAPERBOOK PT II. 22 FDS IN ION EXCHANGE INDIA LTD. DATED 4.11.99 12,000 12,000 12,000 119 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 4.11.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 23 FDS IN ROOFIT LTD. DATED 1.11.99 11,000 11,000 11,000 157-58 154-56 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 1.11.99 BY DEBIT OF THE AMOUNTS IN SB A/C NO. 1019 WITH HDFC BANK, MUMBAI REFER PAGES 157-58. THE COPIES OF APPLICATION FORMS ARE AT PAGES 154-56 OF THE PAPERBOOK. THE CHEQUE AND BANK DETAILS GIVEN IN THE APPLICATION FORMS TALLY WITH THE CHEQUE DETAILS MENTIONED IN THE BANK STATEMENT. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 198-99. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 24 FDS IN TITAN INDUSTRIES DATED 8.12.99 15,000 15,000 15,000 158 160-62 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 8.12.99 BY DEBIT OF THE AMOUNTS IN SB A/C NOS. 1019 WITH HDFC BANK, MUMBAI REFER PAGES 158. THE COPIES OF APPLICATION FORMS ARE AT PAGES 160-62 OF THE PAPERBOOK. THE CHEQUE AND BANK DETAILS GIVEN IN THE APPLICATION FORMS TALLY WITH THE CHEQUE DETAILS MENTIONED IN THE BANK STATEMENT. DETAILS OF CORRESPONDING AMOUNTS 35 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 198-99. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 25 FDS IN BAJAJ TEMPO DATED 21.8.99 12,000 12,000 12,000 118 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 21.8.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NO. 6583 WITH UNION BANK, MUMBAI REFER PAGE 118. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 26 FDS IN MUKUND ENGINEERS DATED 5.1.00 12,000 12,000 12,000 119 123 120 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 5.01.00 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 120. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 27 FDS IN MUKUND LTD. RENEWAL ON 2.9.99 12,000 12,000 12,000 163 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN RENEWED ON 2.9.99. LETTER FROM COMPANY MAY BE SEEN AT PAGE 163. INTEREST ON THESE RENEWED FDS NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. EARLIER INTEREST RECEIVED OFFERED TO TAX BY AMITA PURI & NEHA PURI AND ASSESSED ACCORDINGLY. 28 FDS IN RPG CABLES DATED 1.2.00 12,000 12,000 12,000 159 164-65 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 1.02.00 BY DEBIT OF THE AMOUNTS IN SB A/C NO. 1019 WITH HDFC BANK, MUMBAI REFER PAGE 159. THE COPIES OF APPLICATION FORMS ARE AT PAGES 164-65 OF THE 36 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) PAGES 64-72 PAPERBOOK. THE CHEQUE AND BANK DETAILS GIVEN IN THE APPLICATION FORMS TALLY WITH THE CHEQUE DETAILS MENTIONED IN THE BANK STATEMENT. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 198-99. INTEREST HAS BEEN OFFERED TO TAX BY AMITA PURI, NEHA PURI & DIVYA PURI IN RESPECTIVE ASSESSMENT YEARS THE INTEREST WAS RECEIVED. 29 FDS IN MOREPEN LABORATORIES LTD DATED 10.5.99 11,000 11,000 11,000 117 123 121 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 10.5.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 117, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 30 FDS IN CAMPHOR & ALLIED PRODUCTS DATED 23.6.99 11,000 11,000 11,000 117 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 23.6.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 117, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST HAS BEEN OFFERED TO TAX BY AMITA PURI, NEHA PURI & DIVYA PURI IN RESPECTIVE ASSESSMENT YEARS THE INTEREST WAS RECEIVED. 31 FDS IN ADHIKARI BROTHERS TELEVISION NETWORK LTD. DATED 8.10.99 11,000 11,000 11,000 118 123 158 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF THESE THREE FDS IN THE NAMES OF V K PURI & NEHA PURI HAVE BEEN MADE ON 8.10.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583 AND 6663 WITH UNION BANK, MUMBAI REFER PAGES 118 & 123. FD IN THE NAME OF DIVYA PURI MADE BY DEBIT HDFC BANK, 37 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) AMITA PURI AT PAGES 64-72 MUMBAI A/C NO 1019 PAGE 159. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195-96 AND 199. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI & DIVYA PURI RESPECTIVELY. 32 FDS IN NAGARJUN FERTILISERS AND CHEMICALS LTD DATED 29.4.99 12,000 12,000 12,000 117 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 29.4.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 117, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 33 FD IN ASHIMA LTD DATED 8.4.99 11,000 11,000 11,000 117 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 8.4.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 117, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI & DIVYA PURI RESPECTIVELY. 34 FDS IN BERGER PAINTS DATED 21.8.99 12,000 12,000 12,000 118 124 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 21.8.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583 AND 6581 WITH UNION BANK, MUMBAI REFER PAGES 118 & 124. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195-96. INTEREST OFFERED TO TAX IN AY 2012-13 BY AMITA PURI, NEHA PURI & DIVYA PURI RESPECTIVELY. 38 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 35 FDS IN USHA BELTRON DATED 6.1.00 11,000 11,000 11,000 119 123 120 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 6.01.00 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 120. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 36 FDS IN ZUARI INDUSTRIES LTD DATED 7.1.00 13,000 13,000 13,000 119 123 120 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 7.01.00 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 120. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST OFFERED TO TAX IN AY 2003-04 BY AMITA PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY. 37 FDS IN SPIC-CAMEO INTEREST RECEIVED AS ON 11.11.99 6,204 6,204 6,204 216-220 239-241 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THIS IS INTEREST RECEIVED FROM THREE FDS IN SPIC-CAMEO DATED 11.11.99 IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI. INTEREST OFFERED TO TAX BY AMITA PURI & NEHA PURI IN AY 1999- 00. 38 FDS IN STEELAGE LTD DATED 10.4.99 12,000 12,000 12,000 117 123 120 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 10.4.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 117, 123 & 120. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA 39 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) PURI AND DIVYA PURI RESPECTIVELY. 39 FDS IN KALYANI LTD 8.12.99 12,000 12,000 12,000 119 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 8.12.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY. 40 INVESTMENTS IN ALLIED INDIA FUNDS LTD. DATED 6.1.00 10,000 10,000 10,000 119 123 120 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE INVESTMENTS IN MUTUAL FUND THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 6.01.00 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 120. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. DIVIDEND NOT RECEIVED TILL DATE. 41 FDS IN DATAMATICS LTD DATED 6.11.99 12,000 12,000 12,000 119 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 6.11.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 119, 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195- 96. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY. 43 FDS IN APROTEX LATTICES DATED 3.12.99 12,000 12,000 12,000 158 167-70 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 3.12.99 BY DEBIT OF THE AMOUNTS IN SB A/C 40 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 NO 1019 IN HDFC BANK, MUMBAI REFER PAGES 158. THE COPIES OF APPLICATION FORMS ARE AT PAGES 167-70 OF THE PAPERBOOK. THE CHEQUE AND BANK DETAILS GIVEN IN THE APPLICATION FORMS TALLY WITH THE CHEQUE DETAILS MENTIONED IN THE BANK STATEMENT DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 198-99. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 44 FDS IN BALARPUR INDUSTRIES LTD., NEW DELHI DATED 20.8.99 12,000 12,000 12,000 123 121 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 20.08.99 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 123 & 121. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 195-96. INTEREST OFFERED TO TAX IN AY 2007-08 BY AMITA PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY. 45 FD IN GRINDLAYS BANK, SANSAD MARG, NEW DELHI VALUE ON 24.4.99 59,663 171 THIS IS THE BOOK VALUE ON 24.04.1999 OF FD FOR RS.55,000/-, NO 23588799 DATED 01.05.1998 AS SEEN AT PAGES 171. IT MATURED ON 1.5.01 FOR RS.76163/-. THE INVESTMENT WAS MADE IN A.Y. 1999-00 AND IS REFLECTED IN THE CASH FLOW STATEMENT OF THAT YEAR. DOCUMENTS PLACED AT PAGES 171- 180. THE DEPOSIT MATURED IN A.Y. 2002-03 AND TAX PAID ON RS 21,163/- BY AMITA PURI IN THAT YEAR. SAME IS REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 66 AND 70 OF THE PAPERBOOK. INVESTMENT RELATES TO AY 1999-00. 47 FD IN GRINDLAYS BANK, CONNAUGHT 64,578 182 183-185 THIS IS THE BOOK VALUE ON 24.04.1999 OF FD FOR 41 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) PLACE, NEW DELHI VALUE ON 24.4.99 187 RS.50,000/-, NO 24529975, DATED 13.03.1997 MADE IN CASH WITH GRINDLAYS BANK, CONNAUGHT PLACE, DELHI AND REFLECTED IN CASH FLOW STATEMENT OF THAT YEAR. MATURITY AMOUNT OF FD WAS RS. 85,355/- ON 12.3.02. THE INVESTMENT WAS MADE IN A.Y. 1997-98 AS SEEN AT PAGES 181-91 OF THE PAPERBOOK. THE SAME IS REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 66 AND 70 OF THE PAPERBOOK. THE INTEREST ON THIS WAS OFFERED TO TAX BY AMITA PURI IN THE AY WHEN INTEREST RECD. 50 FDS IN EXCEL INDUSTRIES DATED 16.8.99 12,000 12,000 12,000 193 157-58 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 64-72 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 16.08.99 BY DEBIT OF THE AMOUNTS IN SB A/C NO. 1019 WITH UNION BANK, MUMBAI REFER PAGES 157- 58. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 198- 99. INTEREST OFFERED TO TAX IN AY 2003-04 BY AMITA PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY. 51 FDS IN BHARAT BIJLEE DATED 10.4.97. THESE RELATES TO A.Y. 1998-99 11,000 11,000 11,000 194 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGES 65 (S NO. 67) AS INVESTED IN AY 1998-99 THESE INVESTMENTS MADE IN FIXED DEPOSITS WITH M/S BHARAT BIJLEE LTD ON 10.04.1997 WERE IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI; HENCE THESE RELATES TO A.Y 1998-99. THIS IS CONFIRMED BY THE COMPANY-PAGE 194 OF THE PAPERBOOK. THE DEPOSITS MATURED IN THE A.Y 2001-02 AND THE INTEREST ARISING OUT OF THESE WERE OFFERED TO TAX ON CASH BASIS BY AMITA PURI AND NEHA PURI. TOTAL RS.24,75,882/- INTEREST, WHEREVER RECEIVED, IS OFFERED TO TAX ON C ASH RECEIPT BASIS. NOTE : SERIAL NOS. AS IN THE ASSESSMENT ORDER. 42 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) WE NOTED THAT WHEN THE MATTER WENT BEFORE THE CIT(A ), CIT(A) IGNORED THE REMAND REPORT OF THE AO DT. 26.10.2010 AND 24.3.201 2. THE REMAND REPORT DT. 26.10.2010 IS AVAILABLE AT PG. 261-265 WHILE THE RE MAND REPORT DT. 24.3.2012 IS AVAILABLE AT PG. 271-277. 8.1 AS WE HAVE DEALT WITH THE ADDITIONS FOR A.Y 199 9-2000 IN THE AFORESAID PARAGRAPHS, IN THIS YEAR ALSO WE GIVE OUR FINDING I N RESPECT OF EACH DEPOSIT AS UNDER : 1) RS. 60,621/- DT. 7.9.1999 - THIS REPRESENTS TH E DEMAND DRAFT DT. 7.9.99 MADE FAVOURING TRAVEL AGENT, BANGALORE. THE AO IN T HE REMAND REPORT AT PG. 261 CLEARLY STATED THAT THIS APPEARS TO BE PAYMENT BY D.D TO TRAVEL AGENT FOR THE PURPOSE OF FOREIGN VISIT MADE BY AMITA PURI OUT OF HER OWN FUNDS. SMT. AMITA PURI IS ASSESSED INDEPENDENTLY. WE, THEREFOR E, DELETE THIS ADDITION. 2) RS.18,263/- RELATES TO AMITA PURI. NO ADDITION IS MADE BY THE AO. 3) RS. 48,000/- DT. 21.4.99 IN THE NAME OF V.K. PUR I - THIS REPRESENTS FDR NO. 533788 WITH ICICI BANK. ASSESSEE CLAIMS IT TO HAVE BEEN MADE OUT OF THE OPENING CASH IN HAND. WE NOTED DURING THE YEAR THE ASSESSEE HAS OPENING CASH IN HAND OF RS.1,96,600/- WHICH IS ARISING FROM OPEN ING CASH IN HAND WHICH WE OBSERVED DURING THE A.Y 1999-00 AMOUNTING TO RS.3,7 4,650/-. WE, THEREFORE, REJECT THE EXPLANATION OF THE ASSESSEE AND SUSTAIN THE ADDITION IN THIS REGARD. 4) RS.75,778/- - THIS BELONGS TO AMITA PURI. NO ADDITION IS MADE BY THE AO. 5) RS. 48,000/- EACH DT. 15.4.99 OF V.K. PURI, NEHA PURI & DIVYA PURI - THESE INVESTMENTS NO DOUBT THE ASSESSEE HAS SHOWN A S MADE IN THE FDR IN THE CASH FLOW STATEMENT AT PG. 57. THESE INVESTMENTS S INCE MADE OUT OF CASH, SO FAR 43 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) IT RELATES TO V.K. PURI, SINCE WE HAVE REJECTED THE EXPLANATION OF THE ASSESSEE IN RESPECT OF FDR OF RS. 48,000/- AT SR. NO. 3, ON THE SAME ANALOGY WE CONFIRM THE ADDITION OF RS. 48,000/-. SO FAR THE OTHER 2 FDRS OF RS. 48,000/- IN THE NAMES OF NEHA PURI & DIVYA PURI ARE CONCERNED, THE ASSESS EE CLAIMS THAT NO SUCH FDRS ARE THERE. THE LD. DR COULD NOT BRING TO OUR KNOWLEDGE THAT THESE FDRS EXISTS IN THE NAME OF NEHA PURI & DIVYA PURI. WE, THEREFORE, DELETE THE ADDITION IN RESPECT OF THESE TWO FDRS OF RS. 48,000 /- EACH. THUS, WE SUSTAIN THE ADDITION ONLY IN RESPECT OF RS. 48,000/- IN RES PECT OF FDR IN THE NAME OF V.K. PURI. 6) FDR OF RS.44,988/- DT. 8.8.99 AND RS. 50,000/- I N THE NAME OF NEHA PURI DT. 8.9.99 THE ASSESSEE CLAIMS THAT THE SUM OF RS. 44,988/- IS INTEREST RECEIVED ON 8.5.99 FROM 2 FDRS IN SYNDICATE BANK; RS. 23,392 /- INTEREST RECEIVED ON FDR NO. 42183 DT. 6.5.96 OF RS. 50,000/- AND RS. 21 ,696/- NET AMOUNT RECEIVED FROM FDR NO. 42812 DT. 6.5.96 OF RS. 25,000/-. BOT H FDRS IN SYNDICATE BANK MATURED ON 6.5.99 WHICH IS APPARENT FROM PG. 86-87 OF THE PAPER BOOK. THESE ARE DEPOSITED IN SB A/C NO. 36516 ON 8.5.99. THIS INTEREST HAS DULY BEEN SHOWN IN THE CASE OF AMITA PURI IN A.Y 2000-01 AND HAS BE EN ASSESSED ACCORDINGLY. WE VERIFIED THE EXPLANATION OF THE ASSESSEE FROM TH E EVIDENCE IN THE PAPERBOOK. WE, THEREFORE, DELETE THE ADDITION OF RS.44,988/-. IN RESPECT OF SUM OF RS.50,000/-, THE ASSESSEE DISPUTES THAT THERE IS NO SUCH FDR IN THE NAME OF NEHA PURI. REVENUE COULD ALSO NOT BRING TO OUR KNO WLEDGE ANY SUCH FDR BEING IN EXISTENCE AND SEIZED. WE, ACCORDINGLY, DELETE T HIS ADDITION. 7) RS. 15,000/- AND RS. 45,000/- IN THE NAME OF ASS ESSEE AND NEHA PURI RESPECTIVELY IN FDR DT. 6.5.99 AND 8.5.99 - THE A SSESSEE CLAIMS THAT THE FDR FOR RS. 15,000/- DT. 6.5.99 IS MADE OUT OF MATURITY AMOUNT OF RS.36,696/- RECEIVED ON MATURITY OF RS. 25,000/- FDR WHICH HAS BEEN DISCUSSED AT SR. NO. 6. INTEREST OF RS. 4,586/- IS OFFERED TO TAX BY AMITA PURI IN A.Y 2002-03. WE 44 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) NOTED AT PG. 261 OF THE REMAND REPORT THAT THE AO H AS DULY VERIFIED THIS CONTENTION. WE ALSO VERIFIED FROM THE PAPER BOOK. WE, THEREFORE, DELETE THE ADDITION OF RS. 15,000/- IN RESPECT OF RS. 45,000/- DT. 8.5.99 IN THE NAME OF NEHA PURI. THIS HAS BEEN MADE BY DEBITING THE SB A/C NO . 36516 AND INTEREST ON THIS FDR HAS BEEN OFFERED BY NEHA PURI IN A.Y 2002-03 ON MATURITY. THIS HAS BEEN MADE BY USING THE AMOUNT OF RS.44,988/- WHICH WAS E ARLIER DELETED BY US AT SR. NO. 6. WE ACCORDINGLY DELETE THIS ADDITION. 8) RS.2,95,471/- OF HDFC BANK DEPOSITS FROM 3.5.99 TO 31.3.2000 - DETAILS OF THE DEPOSITS MADE ON VARIOUS DATES IN HD FC BANK ARE GIVEN AT PG. 96 OF THE PAPER BOOK WHICH WE PERUSED. WE NOTED THAT IN RESPECT OF EACH AND EVERY DEPOSIT, THE ASSESSEE HAS EXPLAINED THE SOURC E OF THE DEPOSIT. THIS CONSISTS OF RS. 50,000/- AND RS. 6,000/- AS CASH DE POSIT ON 5.5.99 AND 7.1.2000 ALTHOUGH THE ASSESSEE CLAIMS HE HAS SHOWN IT IN CAS H FLOW STATEMENT WHICH IS AVAILABLE AT PG. 57. WE ACCEPT THE CONTENTION OF T HE ASSESSEE IN RESPECT OF SUM OF RS. 56,000/- AS PRIOR TO THESE DEPOSITS, THERE A RE AMOUNTS WITHDRAWN FROM OTHER BANKS. THESE AMOUNTS ALSO CONSIST OF INTERES T OF RS. 6,203/-, RS. 506/-, RS. 6,204/-, RS. 12,312/-, RS. 960/-, RS. 6,204/-, RS. 2,100/-, RS. 2,100/- AND RS.605/- TOTALLING TO RS.37,914/-. IN THE EXPLANAT ION ALSO WE NOTED THAT SUM OF RS. 17,204/- RECEIVED FROM SEIMENS, IT INCLUDES PRI NCIPAL AND INTEREST OF RS.17,109/- FROM CLARIANT, INCLUDES PRINCIPAL AND I NTEREST OF RS. 26,186/- FROM KIRLOSKAR PNEUMATIC, INCLUDES PRINCIPAL AND INTERES T OF RS.17,110/- FROM SNOWCHEM, INCLUDES PRINCIPAL AND INTEREST OF RS.17, 105/- FROM IDL INDUSTRIES. TO THE EXTENT THESE AMOUNTS CONTAINS INTEREST, IT W ILL BE THE INCOME OF THE ASSESSEE. TO RESOLVE THE DISPUTE WE ESTIMATE THE I NTEREST ON THESE AMOUNTS AT RS. 15,000/- AND THE REST AMOUNT REPRESENTS THE PRI NCIPAL. THE INTEREST, IN ANY CASE, WILL BE THE INCOME OF THE ASSESSEE. WE ACCOR DINGLY SUSTAIN THE ADDITION OF RS. 52,194/- OUT OF SUM OF RS. 2,95,471/- AND DE LETE THE BALANCE ADDITION. 45 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 9) RS. 48,000/- DT. 18.3.98 IN THE NAME OF NEHA PUR I THIS AMOUNT REPRESENTS FDR IN IDBI BANK OUT OF CASH WITHDRAWAL ON 7.4.99 FROM COSMOS BANK OF NEHA PURI SB A/C NO. 980680. WE VERIFIED T HIS FACT. SINCE THE SOURCE STANDS EXPLAINED, WE DELETE THIS ADDITION. 10) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- DT. 5.10.99 IN SRF LTD. - THESE FDRS HAVE BEEN MADE OUT OF SB A/C NO. 6583, 6 663 & 6664 WITH UNION BANK OF INDIA, MUMBAI. WE GAVE VERIFIED THE COPY O F STATEMENT. WE ACCORDINGLY DELETE THESE ADDITIONS. 11) RS. 525/-, RS. 525/- AND RS. 525/- OF TATA IRON & STEEL - THIS REPRESENTS INTEREST RECEIVED FROM TISCO BONDS. THE ASSESSEE C LAIMS THAT THIS HAS BEEN OFFERED TO TAX BY AMITA PURI AND APPEARS IN THE STA TEMENT OF AFFAIRS OF AMITA PURI WHICH ARE VERIFIED FROM PG. 67. WE ACCORDINGL Y DELETE THE INTEREST. 12) RS. 45,000/- DT. 16.3.2000 - THIS REPRESENTS FDR IN BANK OF MAHARASHTRA IN THE NAME OF DIVYA PURI MADE ON 16.3. 2000. THIS HAS BEEN MADE AS CONTENDED AND VERIFIED BY US, OUT OF SB A/C NO. 2 OF V.K. PURI, COPY OF WHICH IS AVAILABLE AT PG. 149, OUT OF SALARY OF V.K . PURI. WE, THEREFORE, DELETE THIS ADDITION. 13) RS.48,000/-, RS.48,000/- AND RS.48,000/- DT. 1. 4.99 IN POST OFFICE MIS - THESE DEPOSITS ARE ACTUALLY DT. 17.3.99 AND ARE NOT DT. 1.4.99. THESE HAVE ALREADY BEEN CONSIDERED BY US IN A.Y 1999-00. WE, THEREFORE, DELETE THESE ADDITIONS. 14) RS. 23,000/- FDR IN NAME OF NEHA PURI IN CENTRA L BANK - AFTER GOING THROUGH THE EXPLANATION OF THE ASSESSEE AS WELL AS THE PAPER BOOK WE NOTED THAT 46 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) THIS HAS BEEN MADE OUT OF SB A/C NO. 32577 AND INTE REST AMOUNT OF RS. 23,390/- CREDITED IN THE SAME BANK ACCOUNT ON 8.5.99. WE, T HEREFORE, DELETE THIS ADDITION. 15) RS. 14,000/- EACH IN FDR WITH ILFS - WE NOTED AFTER GOING THROUGH THE EXPLANATION AND THE REMAND REPORT THAT THESE 3 FDRS IN THE NAMES OF V.K. PURI, NEHA PURI & DIVYA PURI HAVE BEEN RENEWED ON 31.3.20 00. THIS IS APPARENT FROM PG. 136-141 WHICH WE VERIFIED. WE, THEREFORE, DELETE THE ADDITIONS. 16) RS. 49,000/- AND RS. 49,000/- WITH SYNDICATE BA NK DT. 8.12.99 -WE NOTED FROM THE CONFIRMATION FROM THE BANK THAT ORIGINALLY THE FD NO. 7609 DT. 6.3.96 OF RS. 41,544/- MATURED ON 6.3.99 FOR RS. 60,980/- AND THIS FD IS MADE OUT OF THIS MATURED AMOUNT. WE, THEREFORE, DELETE THE ADD ITION OF RS. 49,000/-. SO FAR AS THE SECOND FDR OF RS. 49,000/- IS CONCERNED, WE NOTED THAT THIS FDR IS ALSO MADE, AS CONTENDED BY THE ASSESSEE AND EVIDENCE AVA ILABLE ON RECORD, OUT OF SB A/C NO. 9538 WITH SYNDICATE BANK. THIS FACT IS DULY STATED IN THE REMAND REPORT AT PG. 262 BY THE AO. THIS ADDITION ALSO STANDS DE LETED. 17) RS. 1,16,000/- - NO ADDITION IS MADE IN THIS REGARD. 18) RS. 50,000/-, RS. 50,000/- AND RS. 50,000/- IN THE NAMES OF V.K. PURI, DIVYA PURI & NEHA PURI DT. 10.6.99 - THESE DEPOSI TS HAVE BEEN MADE BY DEBITING SB A/C NO. 980680, 980679 AND 980677 WITH COSMOS BANK, PUNE. FROM THE COPY OF THE PASSBOOK AVAILABLE IN THE PAPE R BOOK WE NOTED THAT THE ASSESSEE HAS NOT DEPOSITED ANY CASH PRIOR TO THESE FDRS BEING MADE OUT OF THESE ACCOUNTS. WE, THEREFORE, DELETE THE ADDITION S IN RESPECT OF ALL THE 3 FDRS OF RS. 50,000/- EACH. 19) RS. 45,000/-, RS. 45,000/- AND RS. 45,000/- IN THE NAMES OF V.K. PURI, DIVYA PURI & NEHA PURI DT. 6.8.99 & 16.3.2000 - WE NOTED THAT SO FAR THE 47 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) INVESTMENT OF RS. 45,000/- IN THE NAME OF DIVYA PUR I IS CONCERNED, IT IS A DUPLICATE ADDITION. THIS HAS ALREADY BEEN DEALT WI TH BY US UNDER PARA 12 AND THIS HAS BEEN MADE OUT OF SB ACCOUNT. WE, THEREFOR E, DELETE THE ADDITION OF RS.45,000/- RELATING TO DIVYA PURI. SO FAR AS REST TWO FDRS ARE CONCERNED, THE ONE IN THE NAME OF NEHA PURI HAS BEEN MADE THROUGH DEBIT IN SB A/C NO. 226/34214 OF SBI AND THE OTHER FDR IN THE NAME OF V .K. PURI HAS ALSO BEEN MADE OUT OF DEBIT TO ACCOUNT IN SBI WHICH WE VERIFI ED FROM PG. 152. THEREFORE, THESE ADDITIONS ARE ALSO DELETED. 20) RS.86,374/-, RS. 25,156/- AND RS. 8,844/- DT. 2 2.7.99 - WE NOTED THAT THE ASSESSEE CLAIMED THAT NO SUCH AMOUNTS AND NO DETAIL S WERE PROVIDED HOW THESE HAVE BEEN INVESTED BY THE ASSESSEE. WE NOTED THAT IN THE REMAND REPORT AT PG. 262 ALSO THE AO DID NOT POINT OUT ABOUT THE DETAILS OF THESE ADDITIONS. SINCE NO SUCH INVESTMENTS ARE IN EXISTENCE, WE DELETE THE AD DITION OF RS.86,374/-, RS. 25,156/- AND RS. 8,844/- . 21) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- WIT H ION EXCHANGE INDIA LTD. - WE NOTED FROM THE REMAND REPORT AT PG. 262 THAT THE AO DULY VERIFIED THAT THE AMOUNT HAS BEEN INVESTED WITH ION EXCHANGE INDI A LTD. BY DEBITING SB A/C NO. 653, 6663 AND 6664 WITH UNION BANK, MUMBAI. THE REFORE, WE DELETE THE ADDITIONS SO MADE. 22) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- DT. 27.8.1999 DEPOSIT WITH ROOFIT INDIA - THESE DEPOSITS WERE MADE ON 1.9.99 AND DEBITED BY THE BANK IN SB A/C NO. 1019 WITH HDFC BANK AND IN RESPECT OF NE HA PURI AND DIVYA PURI THIS HAS BEEN DEBITED TO THEIR RESPECTIVE SB ACCOUN T. WE, THEREFORE, DELETE THESE ADDITIONS ALSO. 48 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 23) RS. 15,000/-, RS. 15,000/- AND RS. 15,000/- FD IN TITAN INDIA DT. 8.12.99 - THESE DEPOSITS ARE ALSO MADE OUT OF BANK ACCOUNT OF V.K. PURI, NEHA PURI AND DIVYA PURI RESPECTIVELY BY DEBITING SB ACCOUNT WITH HDFC BANK. THE ASSESSEE DULY SUBMITTED COPY OF THE PASSBOOK WHICH IS NOT DOUBTED BY THE AO EVEN IN THE REMAND REPORT. WE, THEREFORE, DELETE A LL THESE ADDITIONS. 24) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH BAJAJ TEMPO LTD. - THESE INVESTMENTS HAVE ALSO BEEN MADE AND ENCASHED FROM THE BANK ACCOUNT OF THE ASSESSEE AND HIS DAUGHTERS BEARING NOS. 6583, 6 663 AND 6664 ON 28.8.99 WITH UNION BANK OF INDIA. WE, THEREFORE, DELETE TH ESE ADDITIONS. 25) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH MUKUND ENGINEERS DT. 5.1.2000 - THESE INVESTMENTS ALSO BEING MADE OUT OF SB A/C NO. 6583, 6663 & 6664 OF ASSESSEES DAUGHTERS WITH UNION BANK OF INDIA WHICH IS DULY VERIFIED AND VERIFIABLE FROM THE EVIDENCE FILED BY THE ASSESSEE. WE, THEREFORE, DELETE THIS ADDITIONS. 26) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS DT. 2.9.99 - THESE REPRESENTS RENEWAL OF EARLIER FDR WITH MUKUND ENGIN EERS LTD. THEREFORE, WE DELETE THESE ADDITIONS. 27) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH RPG CABLES - THESE THREE FDS ARE MADE ON 1.2.2000. THE AMOUNT H AS BEEN DULY DEBITED WITH SB A/C NO. 1019 WITH HDFC BANK AS APPEARING AT PG. 159 AND HAS IS CLEAR FROM THE APPLICATION FORM AVAILABLE ON RECORD. SINCE TH E SOURCE STANDS EXPLAINED, WE, THEREFORE, DELETE THESE ADDITIONS. 28) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- FDS WITH MOREPEN LABORATORIES - THESE THREE FDRS HAVE ALSO BEEN MA DE IN THE NAMES OF V.K. 49 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) PURI, NEHA PURI AND DIVYA PURI BY DEBITING THE ACCO UNT NO. 6583, 6663 AND 6664 WITH UNION BANK. SINCE THE SOURCE STANDS EXP LAINED, WE, THEREFORE, DELETE THESE ADDITIONS. 29) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- FDS DT. 26.9.99 WITH CAMPHOR & ALLIED PRODUCTS - IN RESPECT OF THESE FDS ALSO I T IS APPARENT THAT THESE FDS HAVE BEEN MADE BY DEBITING SB A/C NO. 6583, 6663 & 6664 WITH UNION BANK OF INDIA. AS THE SOURCE STANDS EXPLAINED, WE, THEREFO RE, DELETE THESE ADDITIONS. 30) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- FDS DT. 8.10.99 WITH SRI ADHIKARI BROTHERS TELEVISION - THESE THREE FDS IN THE NAMES OF ASSESSEE AND HIS DAUGHTERS HAVE ALSO BEEN MADE BY DEBITING ACCOU NT NOS. 6583 AND 6663 WITH UNION BANK AND 1019 WITH HDFC BANK. THEREFORE, AS THE SOURCE STANDS EXPLAINED, WE DELETE THESE ADDITIONS. 31) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH NAGARJUN FERTILISERS & CHEMICALS LTD. THESE FDS HAVE ALSO BEEN MADE OU T BY DEBITING SB A/C NO. 6583, 6663 & 6664 WITH UNION BANK. THE SOURCE SINC E STANDS EXPLAINED, WE DELETE THE ADDITIONS. 32) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- FDS WITH ASHIMA LTD. - THESE FDS HAVE ALSO BEEN MADE BY DEBITING SB A/C NO S. 6583, 6663 & 6664 WITH UNION BANK. THEREFORE, AS THE SOURCE STANDS E XPLAINED, WE DELETE THE ADDITIONS. 33) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH BERGER PAINTS INDIA LTD. - SINCE THESE FDS HAVE ALSO BEEN MADE OUT BY DEBITING SB A/C NO. 6583, 6663 & 6664 WITH UNION BANK, MUMBAI, WE, THEREFORE, DELETE THESE ADDITIONS. 50 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 34) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- FDS WITH USHA BELTRON DT. 6.1.2000 - SINCE THESE FDS ARE ALSO MADE BY DEBIT ING SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, THEREFORE, THE SOURCE STA NDS EXPLAINED. WE, THEREFORE, DELETE THESE ADDITIONS. 35) RS. 13,000/-, RS. 13,000/- AND RS. 13,000/- FDS WITH ZUARI INDUSTRIES LTD. 7.1.2000 - THESE THREE FDS SINCE ALSO MADE BY DEB ITING SB A/C NOS. 6583, 6663 & 6664 WITH UNION BANK, WE, THEREFORE, DELETE THE ADDITIONS MADE IN THIS REGARD. 36) RS. 6,204/-, RS. 6,204/- AND RS. 6,204/- DT. 11 .11.99 - THESE REPRESENT THE INTEREST ON THREE FDS WITH SPIC-CAMEO. IT IS N OT DENIED BY THE REVENUE THAT THESE INTERESTS HAVE BEEN OFFERED TO TAX BY AM ITA PURI & NEHA PURI IN A.Y 1999-2000. WE, THEREFORE, DELETE THESE ADDITIONS. 37) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH STEELAGE LTD. - SINCE THESE THREE FDS ARE MADE OUT OF SB A/C NOS. 6 583, 6663 & 6664 WITH UNION BANK, THE SOURCE STANDS EXPLAINED. WE, THEREF ORE, DELETE THE ADDITIONS. 38) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH KALYANI STEELS LTD. SINCE THESE THREE FDS MADE ON 8.12.99 OUT OF SB A/ C NOS. 6583, 6663 & 6664WITH UNION BANK, WE, THEREFORE, DELETE THE ADDI TIONS MADE IN THIS REGARD. 39) RS. 10,000/-, RS. 10,000/- AND RS. 10,000/- DT. 6.1.2000 - SINCE THESE THREE FDS ARE MADE OUT OF SB A/C NOS. 6583, 6663 & 6664 WITH UNION BANK, WE, THEREFORE, DELETE THE ADDITIONS. 51 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 40) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- FDS WITH DATAMATICS LTD. DT. 6.11.99 - SINCE ALL THE THREE FDS ARE MADE ON 6.1 1.99 OUT OF SB A/C NOS. 6583, 6663 & 6664, WE, THEREFORE, DELETE THE ADDITIONS. 41) RS. 11,000/- AND RS. 11,000/- DT. 19.8.99 - SIN CE IN RESPECT OF THESE FDS THE ASSESSEE HAS NOT SUBMITTED ANY EXPLANATION FROM DHARAMSI MORARJI CHEMICALS CO. LTD., WE CONFIRM ADDITIONS IN THIS RE GARD. 42) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- DT. 22.11.99 - THESE ARE MADE OUT OF SB A/C NO. 1019 WITH HDFC BANK. THEREFO RE, WE DELETE THE ADDITIONS. 43) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- WIT H BALLARPUR INDUSTRIES LTD. DT. 16.8.99 - SINCE THESE FDS ARE MADE OUT OF SB A/C NOS. 6663 & 6664 WITH UNION BANK, WE, THEREFORE DELETE THE ADDITIONS. 44) RS. 59,663/- FD WITH ANZ GRINDLAYS BANK DT. 24. 4.99 - AS PER EXPLANATION OF THE ASSESSEE AND THE REMAND REPORT O F THE AO AT PG. 264 WE NOTED THAT THESE REPRESENTS THE BOOK VALUE ON 24.4. 99 OF FDR NO. 23588799 DT. 1.5.98. THIS INVESTMENT WAS MADE IN THE EARLIER YE AR. THEREFORE, WE DELETE THE ADDITION MADE DURING THE IMPUGNED YEAR. 45) RS. 1,241/- AND RS. 11,390/- - NO ADDITION MA DE IN THIS REGARD IN THE CASE OF THE ASSESSEE. 46) RS. 64,578/- WITH GRINDLAYS BANK - THIS ALSO REPRESENTS THE BOOK VALUE AS ON 24.4.99 AS PER EXPLANATION OF THE ASSESSEE AN D THE REMAND REPORT AT PG. 264. THE FDR WAS MADE IN THIS REGARD ON 13.3.97 BY CASH DEPOSIT WITH 52 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) GRINDLAYS BANK. SINCE THE INVESTMENT WAS MADE IN A .Y 1997-98, WE, THEREFORE, DELETE THE ADDITION DURING THE IMPUGNED ASSESSMENT YEAR. 47) RS. 71,228/- - NO ADDITION IS MADE IN THE HAN DS OF THE ASSESSEE BY THE AO. 48) FDR INTEREST RS. 8,288/- - NO ADDITION IN THI S REGARD MADE IN THE HANDS OF THE ASSESSEE. 49) RS. 12,000/-, RS. 12,000/- AND RS. 12,000/- DT. 17.8.99 - THESE REPRESENTS FDR MADE IN EXCEL INDUSTRIES LTD. IN THE NAMES OF V.K. PURI, NEHA PURI & DIVYA PURI. THESE FDRS SINCE MADE OUT OF SB A/C NO. 1019 AS APPEARING AT PG. 157, THEREFORE, THE SOURCE STANDS EXPLAINED. WE, THEREFORE, DELETE THESE ADDITIONS. 50) RS. 11,000/-, RS. 11,000/- AND RS. 11,000/- WIT H BHARAT BIJLEE LTD. - THE ASSESSEE CONTENDED THAT THESE DEPOSITS WERE MADE ON 10.4.97. THE AO IN THE REMAND REPORT AT PG. 264 ALSO CONFIRMS THE SAME. W E, THEREFORE, DELETE THE ADDITIONS AS THE FDRS DO NOT BELONG TO THE IMPUGNED ASSESSMENT YEAR. 8.2 THUS, GROUND NOS. 2 TO 5IS PARTLY ALLOWED. 9. GROUND NOS. 6 TO 9 - THESE RELATE TO THE SUSTENA NCE OF ADDITION OF RS.1,98,068/- BY THE AO BEING THE INTEREST ACCRUED IN THE INCOME OF THE ASSESSEE. WE HEARD THE RIVAL SUBMISSIONS AND CAREF ULLY CONSIDERED THE SAME. WE PERUSED THE REMAND REPORT DT. 14.3.2012 AS HAS B EEN VEHEMENTLY RELIED BY THE LD. AR. WE NOTED THAT THE ASSESSEE WAS SHOWING THE INTEREST INCOME ON CASH BASIS. THIS HAS NOT BEEN DISPUTED BY THE REVE NUE. WE ACCORDINGLY DELETE 53 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) THE ADDITION MADE BY THE REVENUE IN RESPECT OF THE INTEREST ON ACCRUAL BASIS. THUS, GROUND NOS. 6 TO 9 ARE ALSO ALLOWED. 10. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. ITA NO. 1859/KOL/2012 (A.Y : 2001-02) : 11. GROUND NO. 1 SINCE NOT PRESSED, DISMISSED AS NO T PRESSED. 12. GROUND NOS. 2 TO 5 RELATES TO THE ADDITION OF R S. 9,42,160/-. AFTER HEARING THE RIVAL SUBMISSION, WE NOTED THAT THE AO HAD MADE THE SAID ADDITION AMOUNTING TO RS.9,42,160/- IN RESPECT OF FDR DEPOSI T FOUND IN THE FOLLOWING NAMES : V.K. PURI - RS.7,51,809/- DIVYA PURI - RS.1,15,502/- NEHA PURI - RS.1,14,849/- THE AO ON THE BASIS OF THE DETAILS OF INVESTMENTS U NEARTHED BY THE CBI AS DETAILED BELOW MADE THESE ADDITIONS. SL. NO. DESCRIPTION V K PURI AMITA PURI DIVYA PURI NEHA PURI 1 D-436 TO 446, 449 PNB, FDR 195632 DT. 17.4.2000 40,000 2 195, 633, PNB FDR 40,000 3 1840, 1841, PNB FDR 40,000 4 PAGE NO. 1842 UNION BANK OF INDIA 1.4.2000 TO 31.03.2001 6,82,017 5 D-116 KVP PAGE 1547 10961, 10960 25.4.2000 10,000 10,000 10,000 6 D-115 KVP PAGE 1542 10964, 10959 D-114 KVP 10965, 10958 10,000 10,000 10,000 10,000 7 D-115 KVP PAGE 1545 10.07.200 11385 D-114 1540 11386 40,000 40,000 8 D-588 PAGE-633 CEAT LTD 10.5.2000 FDR NO 304926, 927, 928, 929 12,000 12,000 12,000 12,000 9 D-142 UTI BANK LTD PUNE 5.10.200 TO 31.03.2001 INTT. 9347 9347 9347 10 D-532 9.4.2000 FDR NO 739277, 280, 278, 279 11,000 11,000 11,000 11,000 54 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 11 -DO- 5977 5977 5977 5977 12 D-579 MAHINDRA & MAHINDRA LTD. D 318567, 66, 68, 69 16,000 16,000 16,000 16,000 13 D-D331 PAGE 1913 HDFC BANK LTD 1.4.2000 TO 31.03.2001 271,515 14 -DO- 137,436 15 D-170 PAGE 1436 75,582 75,582 16 D-622 PAGE 96 TATA IRON & STEEL 525 525 525 525 17 D162 HKSB CORPN. LTD, TDR 10.4.2000 22721/22739 79,594 79,594 18 D-167 PAGE NO 1793 CBI NEW 580 19 D-303 PAGE 1874 CANARA BANK A/C 6706 27.3.2001 23,433 20 -DO- 1875 42,000 21 D-113 PAGE 1513, 1515, 1517, 18.4.200 7.7.200 SRF LTD 20.7.1998 60,000 22 PAGE 1285 SBI STATEMENT 1.4.2000 TO 31.3.2001 TATA IRON & STEEL 6,51,558 23 D-237 PNB A/C 7223 INTT. 7400 26,66,340 7,51,809 16,84,180 1,15,502 1,14,849 FROM THIS CHART IT IS APPARENT THAT THE AO HAS NOT MADE ANY ADDITION IN RESPECT OF DEPOSIT/FDR FOUND IN THE NAME OF AMITA PURI. TH E ASSESSEE SUBMITTED THE FOLLOWING EXPLANATION. SL. NO. PARTICULARS AMOUNT (RS.) PAPER BOOK I (PAGE NO.) SOURCE/REMARKS 5 KISAN VIKAS PATRA 10961, 10960 DATED 25.4.2000 10,000 10,000 59-62 INVESTMENTS OF RS.10,000/- EACH IN KISAN VIKAS PATRA IN THE NAMES OF V K PURI AND NEHA PURI IN CASH ON 25.4.2000. REFER TO CASH FLOW STATEMENT (S.NO. 8) AT PAGE 73 AND SUPPORTING DOCUMENTS PAGES 74- 78. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 6 KISAN VIKAS PATRA 10964, 10965, 10958, 10959 DATED 25.4.2000 10,000 10,000 10,000 48, 50, 54 - 55 INVESTMENTS OF RS. 10,000/ - EACH IN KISAN VIKAS PATRA IN THE NAMES OF V K PURI, DIVYA PURI AND NEHA PURI IN CASH. REFER TO CASH FLOW STATEMENT (S. NO. 8) AT PAGE 73 AND SUPPORTING DOCUMENTS PAGES 74- 78. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 55 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 7 KISAN VIKAS PATRA 11386 DATED 10.7.2000 40,000 52-53 57-58 CASH OF RS.1,20,000/- WAS WITHDRAWN ON 6.7.2000 FROM SB A/C NO 2 IN BANK OF MAHARASHTRA, PUNE OF V K PURI PAGE 88 (REVERSE). THREE KISAN VIKAS PATRA OF RS. 40,000/- EACH WERE PURCHASED IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI ON 10.7.2000. THIS WAS ALSO INTIMATED TO THE DEPARTMENT. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 8 FDS IN CEAT LTD DATED 9.5.2000 12,000 12,000 12,000 89-91 ALSO REFLECTED IN THE STATEMENT OF AFFAIRS OF AMITA PURI AT PAGE 85 THESE THREE FDS IN THE NAMES OF V K PURI, NEHA PURI & DIVYA PURI HAVE BEEN MADE ON 9.05.00 BY DEBIT OF THE AMOUNTS BY NAME IN SB A/C NOS. 6583, 6663 AND 6664 WITH UNION BANK, MUMBAI REFER PAGES 89-91. DETAILS OF CORRESPONDING AMOUNTS DEPOSITED IN THESE BANKS ARE GIVEN AT PAGES 156. INTEREST NOT RECEIVED TILL DATE HENCE INTEREST NOT OFFERED TO TAX. 9 ACCRUED INTEREST FROM 5/10/2000 TO 31/3/01 ON FDS IN UTI BANK LTD, JM ROAD, PUNE 9,347 9,347 93-93 95, 103 THESE ARE AMOUNTS REPRESENTING ACCRUED INTEREST FROM 5.10.00 TO 31.3.01 ON FIXED DEPOSITS OF RS.48,000/- EACH (PAGES 95 AND 103) IN THE NAMES OF V K PURI AND NEHA PURI IN UTI BANK, JM ROAD, PUNE PAGES 93-94 OF THE PAPERBOOK. THE DEPOSITS WERE MADE ON 27.03.1999 AND MATURED ON 27.03.2002. INTEREST INCOME OF RS.20,469/- EACH (INCLUDING RS.9,347/-) WAS OFFERED TO TAX ON CASH BASIS BY AMITA PURI AND NEHA PURI IN AY 2002-03 AND WERE ASSESSED ACCORDINGLY. 10 FDS IN ACC LTD RENEWALS ON 9.4.2000 11,000 11,000 11,000 107-08 THESE ARE RENEWALS ON 09.04.2000 OF FIXED DEPOSITS OF RS.11,000/- EACH WITH M/S ACC LTD. IN THE NAMES OF V K PURI, DIVYA PURI AND NEHA PURI 56 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) HAVING NOS. 726542, 726541 AND 726543, ALL DATED 09.04.1997. PL REFER TO LETTER OF M/S ACC AT PAGES 107-08. 11 INTEREST PAID ON MATURITY OF ABOVE FDS ON 9.4.2000 5,977 5,977 5,977 108 PAGES 241- 243 (PART-II PAPERBOOK) THESE AMOUNTS REPRESENT THE INTEREST RECEIVED ON 09.04.2000 ON MATURITY OF FIXED DEPOSITS OF RS.11,000/- EACH WITH M/S. ACC LTD. IN THE NAMES OF V K PURI, DIVYA PURI AND NEHA PURI HAVING NOS. 726542, 726541 AND 726543 AND AS REFERRED TO IN THE PREVIOUS SERIAL NO. PAGE 108. THESE INTERESTS WERE OFFERED TO TAX ON CASH BASIS BY AMITA PURI AND NEHA PURI IN THIS AY AND WERE ASSESSED ACCORDINGLY. 12 FDS IN MAHINDRA & MAHINDRA RENEWALS ON 9.4.2000 16,000 16,000 16,000 114-15 THESE ARE RENEWALS ON 09.04.2000 OF FIXED DEPOSITS OF RS.16,000/- EACH WITH M/S. MAHINDRA & MAHINDRA LTD. IN THE NAMES OF V K PURI, DIVYA PURI AND NEHA PURI HAVING NOS. 015184, 015190 AND 015198, ALL DATED 09.04.1997 PAGES 114- 15. 13 14 AMOUNTS CREDITED IN HDFC BANK LTD, PUNE FROM 1-4-00 TO 31-3-01 271515 137,436 121-22 THE SUM OF THESE TWO AMOUNTS, THAT IS, RS.4,08,951/- REPRESENTS AMOUNTS CREDITED IN HDFC BANK, PUNE SB A/C 61063 FROM 01.04.2000 TO 31.3.2001 PAGES 121-22. SUMMARY OF CREDITS MAY SEEN AT PAGE 123. OF THIS AMOUNT RS.3,35,404/- REPRESENTS CASH DEPOSIT. PL REFER TO CASH FLOW STATEMENT PAGE 73 (S. NOS. 14, 15, 18, 19, 31, 32, 40, 41 & 46) AND SUPPORTING DOCUMENTS PAGES 74- 78. BALANCE AMOUNT REPRESENTS RS.9000/- THAT WAS RETURNED AS LOAN BY KALMADI; GIFT OF RS.10,000/- BY THE APPELLANTS FATHER-IN-LAW TO HIS GRAND- CHILDREN DEPOSIT SLIP BY FATHER- IN-LAW ENCLOSED. BALANCE RS 54,547/- REPRESENTS THE PRINCIPAL 57 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) AMOUNTS AND INTEREST/DIVIDEND RECEIVED WHICH ARE SUPPORTED BY DOCUMENTS AT PAGES 124- 135. A.O HAS VERIFIED EACH AND EVERY DETAIL IN HIS REMAND REPORTS. 15 MATURING AMT OF FD IN GLOBAL TRUST BANK LTD. FORT, MUMBAI ON 9.4.2000 75,582 138 PAGES 241- 243 (PART-II PAPERBOOK) THIS AMOUNT REPRESENTS THE MATURITY VALUE ON 09.04.2000 OF FIXED DEPOSIT NO. 190051773 FOR RS. 50,000/- AND DATED 09.04.1997 WITH GLOBAL TRUST BANK LTD. FORT, MUMBAI PAGE 138. INTEREST AMOUNT OF RS 25,582/- WAS OFFERED TO TAX ON CASH BASIS IN A.Y 2001-02 BY AMITA PURI AND ASSESSED ACCORDINGLY. 16 INTEREST RECEIVED FROM TISCO BONDS ON 1.11.2000 525 525 525 139-141 INTEREST IN THE NAMES OF V K PURI, NEHA PURI AND DIVYA PURI RECEIVED ON 1.11.2000 AND OFFERED TO TAX BY AMITA PURI IN A.Y 2001-02 AND ASSESSED ACCORDINGLY. ALSO FIGURES IN STATEMENT OF AFFAIRS OF AMITA PURI PAGE 87 (S. NO. 8) 17 MATURITY AMT OF FD IN HONGKONG BANK LTD. FORT, MUMBAI ON 08.04.2000 79,594 142 - 48 PAGES 241- 243 (PART-II PAPERBOOK) THIS AMOUNT REPRESENTS ON 08.04.2000 THE MATURITY VALUE OF FIXED DEPOSIT NO. 002-022739- 051 FOR RS.55,000/- WITH HSBC, MUMBAI, DATED 08.04.1 997. INTEREST AMOUNT OF RS 24,594/- WAS OFFERED TO TAX ON CASH BASIS IN A.Y 2001-02 BY AMITA PURI AND ASSESSED ACCORDINGLY PAGES 142-48. 19 BALANCE IN SB A/C 6706, CANARA BANK, GOI MARKET, DELHI AS ON 27.8.2001 RELATABLE TO AY 2002-03 23,433 149 THIS IS THE BALANCE IN SB A/C 6706, CANARA BANK, GOI MARKET, DELHI AS ON 27.8.2001 OF WHICH RS. 21,231/- WAS DEPOSITED ON 27.8.2001 (RELATABLE TO AY 2002- 03). ONLY RS. 89/- WAS DEPOSITED IN AY 2001-02. 20 FD DATED 17.8.2001 IN CANARA BANK, GOI MARKET, DELHI RELATABLE TO AY 42,000 149 - 151 THIS IS A FIXED DEPOSIT IN CANARA BANK, GOI MARKET, DELHI, WHICH WAS MADE ON 17.8.2001 BY PART RENEWAL OF THE EARLIER FIXED 58 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 2002-03 DEPOSIT AND OUT OF ITS MATURITY AMOUNT OF RS 63,231/-. THE BALANCE AMOUNT OF RS.21,231/- WAS CREDITED IN THE SB A/C 6706 ON 27.08.2001. IT THUS RELATES TO A.Y 2002-03 PAGE 149-151. 23 ACCRUED INTEREST ON FD NO 7223 DURING FY 2000-01 IN PUNJAB NATIONAL BANK, CLOCK TOWER, DEHRADUN 7,400 152 - 53 THIS IS ACCRUED INTEREST ON FD NO. 7223 DATED 14.3.2000 OF RS. 71,258/- DURING FY 2000-01, WHICH MATURED ON 14.03.2003. INTEREST OF RS.21,288/- (INCLUDING RS.7,400/-) OFFERED TO TAX ON CASH BASIS BY AMITA PURI DURING AY 2003-04 AND ASSESSED ACCORDINGLY. TOTAL RS. 942,160/- INTEREST, WHEREVER RECEIVED, HAS BEEN OFFERED TO TA X ON CASH BASIS. NOTE : SERIAL NOS. AS IN THE ASSESSMENT ORDER. WE NOTED THAT WHEN THE MATTER WENT BEFORE CIT(A), C IT(A) IGNORED THE REMAND REPORT OF THE AO DT. 26.10.2010 AND 24.3.201 2. THE REMAND REPORT DT. 26.10.2010 IS AVAILABLE AT PG. 261-265. THE REMAND REPORT DT. 24.3.2012 IS AVAILABLE AT PG. 271-277. AS WE HAVE DEALT WITH ADDITION FOR A.Y 1999-2000 & 2000-2001 IN THE AFORESAID PARAGRAPHS, IN THIS YEAR ALSO WE GIVE OUR FINDING IN RESPECT OF EACH DEPOSIT AS UNDER : 1 TO 4) AS PER THE DETAILS OF INVESTMENTS OF V.K. P URI AND FAMILY MEMBERS, SINCE RELATE TO AMITA PURI AND NOT ADDED IN THE CAS E OF THE ASSESSEE, IT DOES NOT REQUIRE ANY FINDING. 5 & 6) KISAN VIKAS PATRA OF RS. 10,000/- EACH TOTAL LING TO RS. 50,000/- - THESE REPRESENTS KISAN VIKAS PATRA BEARING NOS. 109 58 TO 10961, 10964 & 10965 DT. 25.4.2000. THE CONTENTION OF THE ASSESSE E IS THAT IT IS INCLUDED IN THE CASH FLOW STATEMENT AND INTEREST IS NOT OFFERED TO TAX DURING THE IMPUGNED 59 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) ASSESSMENT YEAR AS INTEREST IS OFFERED ON RECEIPT B ASIS. AFTER HEARING THE RIVAL SUBMISSIONS, WE PERUSED PGS. 73, 74 TO 78 OF THE PA PER BOOK. WE NOTED THAT THE INVESTMENTS IN 6 KISAN VIKAS PATRA OF RS. 50,000/- WERE MADE AND HAS BEEN SHOWN BY THE ASSESSEE IN THE CASH FLOW STATEMENT AN D PRIOR TO THIS, THE ASSESSEE HAD MADE WITHDRAWAL FROM 3.4.2000 TO 23.4.2000 AMOU NTING TO RS. 1,00,100/- FROM UNION BANK, BANK OF MAHARASHTRA AND HDFC BANK. THESE WITHDRAWALS ARE DULY REFLECTED IN THE PASSBOOK AT PG. 74-78 OF THE PAPER BOOK. WE, THEREFORE, DELETE THESE ADDITIONS. 7) RS. 40,000/- - THIS REPRESENTS INVESTMENTS IN KISAN VIKAS PATRA BERAING NO. 11386 DT. 10.7.2008. WE NOTED FROM PG. 88 OF T HE PAPER BOOK THAT SUM OF RS. 1,20,000/- HAS BEEN WITHDRAWN FROM ACCOUNT NO. 50720000000002, BANK OF MAHARASHTRA ON 6.7.2000 AND THIS WITHDRAWAL, IN OUR OPINION, IS SUFFICIENT TO COVER UP THE INVESTMENT OF RS. 40,000/- EACH IN THE NAMES OF V.K. PURI AND NEHA PURI. WE, ACCORDINGLY, DELETE THIS ADDITION. 8) FD OF RS. 12,000/- EACH IN CEAT LTD. - THE ADD ITION WAS MADE FOR 3 FDRS MADE BY THE ASSESSEE IN THE NAMES OF V.K. PURI , NEHA PURI AND DIVYA PURI ON 9.5.2000. WE NOTED THAT THESE FDRS HAVE BE EN MADE OUT OF SB A/C NO. 6853, 6663 & 6664 WITH UNION BANK, BOMBAY, COPY OF WHICH IS AVAILABLE AT PG. 89-91 OF THE PAPER BOOK. WE, ACCORDINGLY, DELE TE THESE ADDITIONS. 9) INTEREST FROM UTI BANK LTD. OF RS.9,347/- EACH - TWO ADDITIONS OF RS.9,347/- WERE MADE IN RESPECT OF INTEREST ACCRUED ON FDR OF RS. 48,000/- EACH IN THE NAMES OF V.K. PURI AND NEHA PURI WITH U TI BANK FOR THE PERIOD 5.10.2000 TO 31.3.2001. THIS IS A FACT THAT THE AS SESSEE WAS OFFERING INTEREST INCOME ON RECEIPT BASIS AND THESE INTERESTS HAVE BE EN ASSESSED ON RECEIPT BASIS IN THE INCOME OF AMITA PURI & NEHA PURI IN A.Y 2002 -03 BUT SINCE ONE FDR OF RS.48,000/- RELATES TO THE ASSESSEE, WE, THEREFORE, SUSTAIN THE ADDITION OF 60 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) RS.9,347/- AND DELETE THE OTHER ADDITION OF RS.9,34 7/- IN THE NAME OF NEHA PURI AS NO CONTRARY EVIDENCE WAS BROUGHT TO OUR KNOWLEDG E BY THE LD. DR THAT THE INTEREST HAS NOT BEEN ASSESSED IN A.Y 2002-03 IN TH E HANDS OF NEHA PURI. 10) 3 FDRS OF RS. 11,000/- EACH - 3 FDRS DT. 9.4.2 000 WITH M/S. ACC LTD. BEARING NOS. 739277, 739278 AND 739279 IN THE NAMES OF V.K. PURI, DIVYA PURI AND NEHA PURI WERE ADDED. WE NOTED FROM PG. 107-10 8 OF THE PAPER BOOK THAT ORIGINALLY THE FDRS WERE MADE ON 9.4.1997 IN THE NA MES OF V.K. PURI, DIVYA PURI AND NEHA PURI AND DURING THIS YEAR THESE FDRS MERELY REPRESENT THE RENEWALS AND THEREFORE WE DELETE THESE ADDITIONS. 11) INTEREST ON ABOVE FDRS AMOUNTING TO RS.5,977/- EACH - INTEREST RECEIVED ON MATURITY ON 9.4.2000 ON THESE FDRS OF RS. 11,000 /- EACH DT. 9.4.1997. ASSESSEE CONTENDS WERE BROUGHT TO TAX ON CASH BASIS BY AMITA PURI & DIVYA PURI. NO EXPLANATION HAS BEEN GIVEN HOW MUCH INTER EST HAS BEEN SHOWN IN EACH CASE. ONUS IS ON THE ASSESSEE TO PROVE AND ADDUCE EVIDENCE IN THIS REGARD. IN THE ABSENCE OF EVIDENCE, WE SUSTAIN THE ADDITION OF RS.5,977/- IN THE HANDS OF V.K. PURI. 12) FDR OF RS.16,000/- EACH WITH MAHINDRA & MAHINDR A LTD. AFTER VERIFYING PGS. 114-115 WE NOTED THAT THIS MERELY RE PRESENTS RENEWAL OF FDRS MADE ON 9.4.1997. THEREFORE, THE ADDITIONS DURING THE IMPUGNED ASSESSMENT YEAR STAND DELETED IN RESPECT OF ALL THE THREE FDRS OF RS. 16,000/- EACH. 13 & 14) RS.2,71,515/- AND RS.1,37,436/- - THIS R EPRESENTS VARIOUS CREDITS MADE IN THE BANK ACCOUNT OF THE ASSESSEE FROM 1.4.2 000 TO 31.3.2001 WITH HDFC BANK, PUNE BEARING ACCOUNT NO. 61063. EXPLANA TION GIVEN BY THE ASSESSEE IS AVAILABLE AT PG. 123. OUT OF THIS, SUM OF RS.3,35,404/- REPRESENTS CASH DEPOSIT WHICH ASSESSEE CLAIMS OUT OF CASH IN H AND AS SHOWN IN THE CASH FLOW STATEMENT. WE NOTED THAT IN THE CASH FLOW STA TEMENT ASSESSEE HAS NOT 61 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) SHOWN ANY OPENING BALANCE BUT THE VARIOUS WITHDRAWA LS OF RS. 50,000/-, RS.40,000/-, RS.50,000/-, RS. 6,404/-, RS. 40,000/- , RS. 40,000/-, RS.50,000/- AND RS.900/- HAS DULY BEEN SHOWN BY THE ASSESSEE IN THE CASH FLOW STATEMENT ON THE RESPECTIVE DATES WHEN THE MONEY HAS BEEN DEP OSITED WITH THE BANKER I.E. 16.5.2000, 27.5.2000, 12.6.2000, 18.6.2000, 21.12.2 000, 26.12.2000 AND PRIOR TO THESE DATES THERE ARE WITHDRAWALS FROM OTHER BAN K ACCOUNT WHICH ARE DULY REFLECTED IN THE CASH FLOW STATEMENT. IT IS NOT A CASE WHERE AS ON A PARTICULAR DATE THERE REPRESENTS EXCESS DEPOSITS THAN WITHDRAW ALS. WE, THEREFORE, DELETE THE ADDITION OF RS.3,35,404/-. SO FAR AS BALANCE A MOUNT IS CONCERNED, WE NOTED THAT THE ASSESSEE HAS GIVEN EXPLANATION THAT THEY R EPRESENT BANK INTEREST, BANK AND OTHER INTEREST, KALMADI REPAYMENT, RS. 10,000/- RECEIVED FROM ASSESSEES FATHER IN LAW TO THE GRANDCHILDREN THROUGH CHEQUE. THESE FACTS HAVE BEEN VERIFIED IN THE REMAND REPORT ALSO. THE BALANCE AM OUNT OF RS.54,547/- REPRESENTS INTEREST AND DIVIDEND. THE DIVIDEND THE REON IS ONLY RS.1,530/-. THEREFORE, WE CONFIRM THE ADDITION OF RS.53,017/- W HICH REPRESENTS INTEREST AS THE INTEREST IS CHARGEABLE TO TAX AND IT IS NOT THE CONTENTION OF THE ASSESSEE THAT THE INTEREST HAS DULY BEEN SHOWN BY THE ASSESSEE IN ITS INCOME TAX RETURN. 15) RS.75,582/- DT. 9.4.2000 - SINCE THIS AMOUNT REPRESENTS THE MATURITY AMOUNT OF THE FD DEPOSIT DT. 9.4.1997 WHICH THE ASS ESSEE HAD WITH GLOBAL TRUST BANK, MUMBAI, WE, THEREFORE, DELETE THE ADDIT ION OF RS. 50,000/-. RS.25,582/- WAS OFFERED BY AMITA PURI AS INTEREST A ND TAXED ACCORDINGLY. THEREFORE, THIS ALSO STANDS DELETED. 16) INTEREST ON TISCO BONDS OF RS. 525/- EACH - A SSESSEE CLAIMS THAT THIS INTEREST HAS BEEN SHOWN AND OFFERED TO TAX IN THE C ASE OF AMITA PURI. THE AO IS DIRECTED TO VERIFY THIS FACTAS TISCO BONDS HAVE BEE N SHOWN IN THE STATEMENT OF AFFAIRS OF AMITA PURI. IN CASE AO DOES NOT FIND TH AT THIS INTEREST HAS BEEN OFFERED IN THE CASE OF AMITA PURI, THE ADDITION STA NDS SUSTAINED. 62 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 17) RS.79,594/- MATURITY AMOUNT OF FD WITH HONGKONG BANK - WE NOTED THAT OUT OF SAID AMOUNT, RS.55,000/- REPRESENTS THE FD WHICH WAS MADE WITH HSBC, MUMBAI ON 8.4.1997. IN RESPECT OF BALANCE AM OUNT OF RS.24,594/- THE ASSESSEE CLAIMS THAT THIS HAS BEEN SHOWN AND ASSESS ED AS INTEREST IN THE CASE OF AMITA PURI. THE AO IS DIRECTED TO VERIFY THIS FACT AND IN CASE THIS INTEREST HAS BEEN ASSESSED IN THE CASE OF AMITA PURI, THE SAME M AY BE DELETED. 19) BALANCE IN SB A/C NO. 23433 - THIS REPRESENTS BALANCE WITH CANARA BANK, DELHI IN SB A/C NO. 6706. OUT OF THIS RS.21, 231/- SINCE DEPOSITED ON 27.8.2001, THEREFORE, CANNOT BE ADDED DURING THIS Y EAR AND ACCORDINGLY WE DELETE THE SAME BUT CONFIRM THE ADDITION OF RS. 89/ - DEPOSITED DURING THE YEAR. 20) FD WITH CANARA BANK OF RS. 42,000/- - THIS RE PRESENTS FDR MADE ON 27.8.2001 WITH CANARA BANK. SINCE THIS DOES NOT RE LATE TO THE IMPUGNED ASSESSMENT YEAR, WE, THEREFORE, DELETE THIS ADDITIO N. 23) RS. 7,400/- - ASSESSEE CLAIMS THAT THIS REPRE SENTS INTEREST ON FDR DT. 14.3.2000 OF RS.71,258/- AND FDR GOT MATURED ON 14. 3.2003. THIS INTEREST SINCE HAS BEEN OFFERED TO TAX ON CASH BASIS BY AMIT A PURI DURING THE A.Y 2003- 04 AND ASSESSED ACCORDINGLY, WE DIRECT THE AO TO VE RIFY THIS FACT. IN CASE THE AO FINDS THAT INTEREST HAS BEEN SHOWN BY AMITA PURI IN A.Y 2003-04 AND ASSESSED IN HER HANDS, THE SAID INTEREST BE DELETED . THUS, GROUND NOS. 2 TO 5 ARE PARTLY ALLOWED. 13. GROUND NOS. 6 TO 9 RELATE TO THE SUSTENANCE OF THE ADDITION OF RS.75,371/- BY THE AO BEING INTEREST ACCRUED ON THE INVESTMENTS AND ADDED IN THE INCOME OF THE ASSESSEE. 63 ITA NOS. 1857 TO 1859/KOL/2012 (A.Y : 1999-2000 TO 2001-2002) 13.1 WE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY C ONSIDERED THE SAME. WE PERUSED THE REMAND REPORT DT. 14.3.2012 AS HAS BEEN VEHEMENTLY RELIED BY THE LD. AR. WE NOTED THAT THE ASSESSEE WAS SHOWING INT EREST INCOME ON CASH BASIS. THIS HAS NOT BEEN DISPUTED BY THE REVENUE. SINCE I NTEREST HAS BEEN ADDED BY THE AO ON ACCRUED BASIS, WE, THEREFORE, DELETE THIS ADDITION. THUS, GROUND NOS. 6 TO 9 14. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. 15. IN THE RESULT, THE APPEALS FILED BY THE ASSESSE E FOR A.YS. 1999-2000, 2000-2001 AND 2001-2002 ARE PARTLY ALLOWED. 16. ORDER PRONOUNCED IN PURSUANCE OF RULE 34(4) OF ITAT RULES, 1963 BY PUTTING ON NOTICE BOARD OF THE BENCH AT KOLKATA ON 16/10/2014. SD/- SD/- (MAHAVIR SINGH) JUDICIAL MEMBER (P.K. BANSAL) ACCOUNTANT MEMBER PLACE : DATED :/16/10/2014 *SSL* COPY TO : (1) ASSESSEE (2) REVENUE (3) CIT CONCERNED (4) CIT(A) CONCERNED (5) D.R (6) GUARD FILE TRUE COPY, BY ORDER