SMT. SUDHA PATEL, Raisen V. THE ITO, Vidisha

ITA 390/IND/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 5747 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-09-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 06-09-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 29-05-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: MOHD JAVED
• Keywords: Unexplained cash credit; Gift; Peak credit; Source of fund; Reason to believe
• Section: 68

Judgement Text

SMT. SUDHA PATEL ITA NO. 390/IND/2015 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, JM & SHRI O.P. MEENA, AM ITA NO.390/IND/2015 A.Y.2010-11 SMT. SUDHA PATEL RAISEN PAN ALMPP 3679B ::: APPELLANT VS INCOME TAX OFFICER VIDISHA ::: RESPONDENT APPELLANT BY SHRI NITIN KAUSHIK RESPONDENT BY SHRI MOHD. JAVED DATE OF HEARING 6.9.2016 DATE OF PRONOUNCEMENT 22. 9.2016 O R D E R THIS IS AN APPEAL PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED CIT(A)-2, BHOPAL, DATED 20.3.201 5. 2. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE HAS FILE D THE RETURN OF INCOME ON 22.9.2010 DECLARING INCOME A T SMT. SUDHA PATEL ITA NO. 390/IND/2015 2 RS.16,180/-. AS PER THE AIR INFORMATION, THE ASSESSEE IS FOUND TO HAVE MADE CASH DEPOSITS OF RS.37,29,100/- IN HER SAVINGS BANK ACCOUNT WITH SBI, A.D.B. BAREEILY, RAISEN. ACCORDINGLY, THE CASE WAS SELECTED FOR SCRUTINY BY TH E ASSESSING OFFICER. 3. THE FIRST GROUND OF APPEAL IS AGAINST MAKING THE ADDITION OF RS. 5,50,000/- TOWARDS UNEXPLAINED CREDIT U/S 68 OF THE ACT. 4. THE ASSESSING OFFICER MENTIONED THAT FROM THE CASH FLOW STATEMENT OF THE ASSESSEE IT IS SEEN THAT THE ASS ESSEE HAS SHOWN CASH GIFT TOTALING TO RS.5,50,000/- FROM SH RI ANIL PATEL, HIS BROTHER, AND SHRI RAHUL RAGHUVANSHI. IN SUPPORT OF HER CONTENTION, THE ASSESSEE HAS FURNISHED AFFIDAVIT OF BOTH THE DONOR AND THE DONEE CLAIMING TO H AVE GIVEN AND RECEIVED THE GIFT. SINCE SHE HAS GOT HER OW N ACCOUNT AND RESIDING IN JOINT FAMILY AT BAREILY, WHICH I S HAVING BANK FACILITY, BOTH THE BROTHER AND SON OF THE SMT. SUDHA PATEL ITA NO. 390/IND/2015 3 ASSESSEE ARE HAVING BANK ACCOUNTS. THEREFORE, THE CONTENTION OF THE ASSESSEE TO HAVE RECEIVED THE GIFTS IN CASH SEEMS TO BE AN AFTERTHOUGHT FOR COVERING THE CASH DEPO SIT. THE FACT THAT NO GIFT DEED HAS BEEN EXECUTED AT THE TIM E OF MAKING THE GIFT BUT THE AFFIDAVIT WAS MADWE ONLY AFTER 28.1.2013 MUCH AFTER THE START OF THE ASSESSMENT PROCEEDINGS GIVES STRENGTH TO AN AFTERTHOUGHT. THEREF ORE, THE CONTENTION OF THE ASSESSEE TO HAVE RECEIVED THE G IFT OF RS. 5,50,000/- WAS REJECTED BY THE ASSESSING OFFICER . THE MATTER WAS CARRIED IN APPEAL BUT THE LEARNED CIT(A) CONFIRMED THE ADDITION MADE BY THE ASSESSING OFFICE R. 5. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE GIFT DEED OF THE DONORS ALONG WITH AGRICULTURAL BO OK SHOWING AGRICULTURAL LAND 24 ACRES OF HER BROTHER ANIL PATEL AND GIFT OF THE DONOR RAHUL RAGHUVANSHI WHO WAS HAVING LAND OF 18.5. ACRES, WAS PRODUCED BEFORE THE AUTHORITIE S BELOW. THEREFORE, THE CREDITWORTHINESS AND IDENTITY OF THE SMT. SUDHA PATEL ITA NO. 390/IND/2015 4 DONORS WAS ACCEPTED BUT THE CAPACITY OF THE DONOR HAS BEEN DOUBTED BY THE ASSESSING OFFICER. THE ONLY GRO UND FOR DISALLOWING THE GIFT IS THAT THE DONOR HAS GIVEN GIFT IN CASH AND FILED AFFIDAVIT OF BOTH THE PERSONS, IS AN AFTER-THO UGHT WHICH IS NOT TENABLE IN LAW. ON THE OTHER HAND, THE LEARNED DR RELIED UPON THE ORDERS OF THE AUTHORITIES BELOW. 6. WE HAVE HEARD BOTH THE SIDES. WE FIND THAT NO GIFT DEED HAS BEEN PREPARED AND SUBMITTED IN THE PROCEEDING S IN SUPPORT OF THE ALLEGED GIFT FROM SHRI ANIL PATEL AN D RAHUL RAGHUVANSHI. IN SUPPORT OF THE CONTENTION, THE ASSESS EE HAS CLAIMED THAT THE GIFT HAS BEEN RECEIVED IN CASH BUT THE ASSESSEE IS HAVING BANK ACCOUNT. BOTH THE BROTHERS AND SON ARE ALSO HAVING THEIR OWN BANK ACCOUNT. THEREFORE, WHEN BOTH THE DONOR AND THE DONEE HAVE BANK ACCOUNT, THERE IS NO REASON TO BELIEVE THAT THE ASSESSEE HAS RE CEIVED THE GIFT IN CASH AND IT IS AN AFTER-THOUGHT COVERING TH E CASH DEPOSIT. THEREFORE, NO GIFT DEED HAS BEEN EXECUTED B UT THE SMT. SUDHA PATEL ITA NO. 390/IND/2015 5 AFFIDAVIT WAS MADE AFTER THE START OF THE ASSESSMENT PROCEEDINGS. THEREFORE, WE CONFIRM THE SAME. THIS GR OUND IS ACCORDINGLY DISMISSED. 7. THE NEXT FOUR GROUNDS RELATE TO ADDITION OF RS.20,44.290/- AS UNEXPLAINED CASH DEPOSIT IN THE ASSESSEES ACCOUNT. THE ASSESSING OFFICER HAS MENTION ED IN THE ASSESSMENT ORDER AS UNDER :- 4.1 FROM THE AIR DETAILS AVAILABLE ON RECORD IT I S SEEN THAT THE ASSESSEE HAS DURING THE PREVIOUS YEAR HAD MADE CASH DEPOSIT TOTALING RS. 37,29,100/- IN HER SAVING BANK A/C AT SBI, ADB BAREILY. VIDE QUERY LETTER DT. 26.6.2012 THE ASSESSEE WAS ASKED TO EXPLAIN THE SOURCE OF FUND FOR SUCH CASH DEPOSIT. THE ASSESSEE VIDE WRITTEN REPLY FURNISHED ON DT. 10.12.2012, 18.12.2012 AND 19.2.2012 EXPLAINED WITH THE HELP OF CASH ACCOUNT AHT THE ASSESSEE HAS DURING THE YEAR SMT. SUDHA PATEL ITA NO. 390/IND/2015 6 RECEIVED CASH TOTALING RS. 22,33,151/- INCLUDING OPENING CASH BALANCE OF RS. 2,651/-. THE ASSESSEE VIDE WRITTEN REPLY RECEIVED DT. 19.2.2013 CONTESTED THE AIR INFORMATION STATING THAT THE TOTAL DEPOSIT IN HER SAVING BANK A/C IS ONLY RS. 20,44,290/- AND NOT RS. 37,29,100/- AS SHOWN IN THE AIR REPORT. TO SUPPORT HER CONTENTION THE ASSESSEE FURNISHED A LETTER FROM THE BRANCH MANAGER SBI, ADB BARELI. VIDE QUERY LETTER ISSUED DT. 26.6.2012 THE ASSESSEE WAS ASKED TO EXPLAIN THE SOURCE OF FUND FOR SUCH CASH DEPOSIT. THE ASSESSEE VIDE WRITTEN REPLY FURNISHED ON DT. 10.12.2012, 18.12.2012 AND 19.2.2012 EXPLAINED WITH THE HELP OF CASH ACCOUNT THAT THE ASSESSEE HAS DURING THE YEAR RECEIVED CASH TOTALING RS.22,33,151/- INCLUDING OPENING CASH BALANCE OF RS. 2,651/-. THE ASSESSEE VIDE WRITTEN REPLY SMT. SUDHA PATEL ITA NO. 390/IND/2015 7 RECEIVED DT. 19.2.2013 CONTESTED THE AIR INFORMATION STATING THAT THE TOTAL DEPOSIT IN HER SAVING BANK A/C IS ONLY RS. 20,44,290/- AND NOT RS. 37,29,100/- AS SHOWN IN THE AIR REPORT. TO SUPPORT HER CONTENTION THE ASSESSEE FURNISHED A LETTER FROM THE BRANCH MANAGER SBI, ADB BARELI. THE ASSESSEE ALSO FURNISHED COPY OF BANK BOOK, FUND FLOW STATEMENT AND BANK STATEMENT TO PROVE HER CONTENTION. 4.2 FROM THE BANK STATEMENT, BANK BOOK AND CASH BOOK FURNISHED BY THE ASSESSEE IT IS SEEN THAT THE ASSESSEE HAS DURING THE PREVIOUS EYAR INDEED DEPOSITED CASH TOTALING RS. 37,29,100/- WHICH IS ALSO EVIDENT FROM THE DOCUMENTS FURNISHED BY THE ASSESSEE HERSELF. THE LETTER OF THE BRANCH MANAGER, SBI, BARELI MENTIONS ABOUT PEAK BALANCE OF RS. 20,44,290/- AND NOT ABOUT SMT. SUDHA PATEL ITA NO. 390/IND/2015 8 TOTAL AMOUNT OF CASH DEPOSITED DURING THE F.Y. THUS THE CONTENTION OF THE ASSESSEE THAT THE TOTAL AMOUNT OF CASH DEPOSITED IN HER BANK A/C AS SHOWN IN THE AIR REPORT IS NOT CORRECT, FAILS IN VI EW OF THE ABOVE FACTS AND DOCUMENTS FURNISHED BY THE ASSESSEE. 4.3 FROM THE CASH FLOW STATEMENT FURNISHED BY THE ASSESSEE IT IS SEEN THAT THE ASSESSEE HAS SHOWN CASH GIFT TOTALING RS. 5,50,000/- FROM HER BROTHER SHRI ANIT PATEL AND SON SHRI RAHUL RAGHUWANSHI, IN SUPPORT OF HER CONTENTION THE ASSESSEE FURNISHED AFFIDAVIT OF BOTH THE DONOR AND DONEE CLAIMING TO HAVE GIVEN AND RECEIVED CASH GIFT. SINCE THE ASSESSEE HAS GOT HER OWN BANK ACCOUNT AND IS RESIDING IN A JOINT FAMILY AT BARELI, RAISEN WHICH IS HAVING BANKING FACILITY AND ALSO THE FACT THAT BOTH THE BROTHER AND SON OF SMT. SUDHA PATEL ITA NO. 390/IND/2015 9 THE ASSESSEE TOO HAVE GOT THEIR OWN BANK ACCOUNTS, THEREFORE, THE CONTENTION OF THE ASSESSEE TOP HAVE RECEIVED IT IN CASH SEEMS TO BE AN AFTERTHOUGHT FOR COVERING HER CASH DEPOSIT ALSO THE FACT THAT NO GIFT DEE4D HAVE BEEN EXECUTED DURING THE TIME OF GIFT BUT AFFIDAVIT MADE ONLY ON 28.1.2013 MUCH AFTER THE START OF THE ASSESSMENT PROCEEDINGS ALSO GIVE STRENGTH TO THEORY OF AFTERTHOUGHT THEREFORE THE CONTENTION OF THE ASSESSEE OF RECEIVING CASH GIFT OFRS. 5,50,000/- IS REJECTED AND SAME IS TREATED AS UNEXPOAINED CASH CREDIT IN THE BOOKS OF THE ASSESSEE, THEREFORE, THE SAME IS ADDED TO THE TOTAL INCOME OF THE ASSESSEE U/S 68. (ADDITION OF RS.5,50,000/-). PENALTY U/S 271(1)(C) IS SEPARATELY INITIATED FOR CONCEALING OF FURNISHING OF INACCURATE PARTICULARS OF INCOME. SMT. SUDHA PATEL ITA NO. 390/IND/2015 10 5. FROM THE CASH A/C FURNISHED BY THE ASSESSEE IT IS SEEN THAT AN AMOUNT OF RS. 10,75,000/- HAS BEEN SHOWN AS CASH RECOVERY FROM DEBTORS. DURING THE COURSE OF ASSESSMENT PROCEEDINGS THE COUNSEL THE ASSESSEE WAS ASKED TO EXPLAIN THE SAME. THE COUNSEL EXPLAINED THAT THE ASSESSEE IS HAVING HUGE AGRICULTURAL LAND IN HER NAME AND IN THE NAME OF HER OTHER MEMBERS AND AGRICULTURAL ACTIVITY ON SUCH LAND IS BEING CARRIED ON FROM YEAR TO YEAR SINCE PAST AND OUT OF SUCH AGRICULTURAL INCOME ACCUMULATED SHE HAD GIVEN LOANS TO VARIOUS FARMERS EARLIER WHICH IS OUTSTANDING AS DEBTORS IN THE EARLIER YEARS BALANCE SHEET WHICH HAS NOW BEEN REALISED IN CASH AND SINCE ALL THE DEBTORS ARE FARMERS THE LOAN HAVE BEEN RECEIVED BACK IN CASH. THE ASSESSEE ALSO STATED THAT NO BOOKS OF ACCOUNTS HAVE BEEN MAINTAINED BY HER IN SMT. SUDHA PATEL ITA NO. 390/IND/2015 11 THE PAST SINCE SHE HAD ONLY AGRICULTURAL INCOME. TO PROVE HER CONTENTION THE ASSESSEE FURNISHED COPY OF LAST 3 YEARS BALANCE SHEET WHICH WAS VERIFIED. THE ASSESSEE ALSO CLAIMED TO HAVE RECEIVED ADVANCE TOTALING RS. 5,00,000/- FOR SALE OF VARIOUS PLOTS WHICH SHE CLAIMED THAT REGISTRY WAS COMPLETED IN LATER YEARS. IN SUPPORT OF HER CLAIM THE ASSESSEE FURNISHED COPY OF SALE DEED WHICH WAS VERIFIED. 6. DURING THE YEAR THE ASSESSEE HAS ALSO CLAIMED CASH RECEIPT OF AGRICULTURAL INCOME OF RS.1,05,500/- FROM 4.5 ACRES OF AGRICULTURAL INCOME. IN SUPPORT OF HER CONTENTION THE ASSESSEE FILED COPY OF P-II REGISTER SHOWING LAND HOLDING BY THE ASSESSEE BUT FAILED TO FURNISH ANY MANDI RECEIPT IN SUPPORT OF SELLING SUCH AGRICULTURAL PRODUCE AT MANDI. THE ASSESSEE STATED THAT SHE SMT. SUDHA PATEL ITA NO. 390/IND/2015 12 SOLD AGRICULTURAL PRODUCE OUTSIDE MANDI TO LOCAL FARMERS AS SEED. AS PER ESTABLISHED NORMS AND WELL SETTLED JUDICIAL PRONOUNCEMENTS NET AGRICULTURAL RECEIPT PER ACRE OF LAND CAN BE PRESUMED TO BE RS., 20,000/- IN THE ABSENCE OF ANY RECORDS OF EXPENSES INCURRED BY THE ASSESSEE. THUS, NET AGRICULTURAL INCOME OF THE ASSESSEE FROM 4.5 ACRES OF LAND COMES OUT TO BE RS. 90,000/-, THE REMAINING RS. 15,500/- IS ADDED TO THE INCOME OF THE ASSESSEE AS INCOME FROM OTHER SOURCES. (ADDITION OF RS.15,500/- ).PENALTY U/S 2371(1)(C) IS SEPARATELY INITIATED FO R CONCEALING OR FURNISHING OF INACCURATE PARTICULARS OF INCOME. 7. THUS FROM THE ABOVE DISCUSSION AND CASH ACCOUNT FURNISHED BY THE ASSESSEE IT IS SEEN THAT OUT OF CASH DEPOSIT OF RS. 37,29,100/- IN HER SMT. SUDHA PATEL ITA NO. 390/IND/2015 13 SAVING BANK A/C AT SBI, ADB BARELI CASH AMOUNT OF ONLY RS. 16,83,151/- I.E. RS. 2,651/- OPENING CASH IN HAND, RS. 5,00,000/- ADVANCE RECEIVED AGAINST SALE OF PLOT, RS. 10,75,000/- RECOVERY FROM DEBTORS OF EARLIER YEAR AND RS. 1,05,500/- CLAIMED TO HAVE BEEN RECEIVED FROM AGRICULTURAL INCOME IS EXPLAINED BY THE ASSESSEE, THE REST OF THE AMOUNT RS.20,45,949/- IS FOUND TO BE UNEXPLAINED CASH CREDIT IN THE BOOKS OF ASSESSEE FOR WHICH THE ASSESSEE DID NOT FURNISH ANY SATISFACTORY EXPLANATION, THEREFORE, THE SAME IS TREATED AS UNEXPLAINED CASH CREDIT AND ADDED TO THE TOTAL INCOME OF THE ASSESSEE U/S 68 (ADDITION RS.20,45,949/-). 8. THE MATTER WAS CARRIED IN APPEAL AND THE LEARNED CIT(A) DISMISSED THE SAME. NOW THE ASSESSEE IS IN APPE AL BEFORE THE TRIBUNAL. SMT. SUDHA PATEL ITA NO. 390/IND/2015 14 9. BEFORE US, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT AS PER THE AIR INFORMATION THE ASSESSEE HAS DEPOSITED RS. 37,29,100/- IN CASH IN HER BANK ACCOUNT WITH SBI, A.D.B. BAREILY. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS OF EACH AND EVER Y DEPOSIT AND WITHDRAWAL FROM THE BANK ACCOUNT IN ORDER T O EXPLAIN THE DEPOSIT IN BANK ALONG WITH WITHDRAWALS MADE FROM THE SAID BANK ACCOUNT. THE ASSESSEE HAS FURNISHED MEMORANDUM OF CASH BOOK AND ROTATION OF CASH STATEMENT EXPLAINING EACH AND EVERY DEPOSIT IN THE BANK ACCOUNT AN D THE WITHDRAWALS. ALL THE DEPOSITS MADE IN THE BANK ACCO UNT ARE OUT OF THE CASH AVAILABLE IN THE SAID CASH BOOK. THE CASH BOOK AND THE CASH FLOW STATEMENT SUGGEST THAT THE AMOUNT ROLLED OVER THE BANK ACCOUNT WAS NOT INVESTED AND AVAILABLE FOR SUBSEQUENT DEPOSITS. THE DATEWISE BALANCE HAS BEEN WORKED OUT AND THE ENTIRE CASH WAS RECYCLED IN THE BANK ACCOUNT WHICH WAS ACCEPTED BY THE ASSESSING SMT. SUDHA PATEL ITA NO. 390/IND/2015 15 OFFICER. THE LEARNED COUNSEL FOR THE ASSESSEE ALSO PRODUCED THE CONFIRMATION LETTER OF SBI, BAREILY. THE ASSESSING OFFICER DID NOT EXPLAIN HOW THIS AMOUNT WAS ARRIVED AT BY THE ASSESSEE. THE ASSESSING OFFICER HAS NOT CONSIDERED THE WITHDRAWALS MADE BY THE ASSESSEE WHICH HAVE BEEN AGAIN DEPOSITED BANK IN THE BANK AND WERE NOT UTILISED. IN THE CASH BOOK THE AMOUNTS WITHDRAWN FRO M THE BANK WERE SHOWN AND ENTRIES WERE DULY RECORDED AND EXPLAINED IN THE CASH BOOK. IF THE AMOUNT WITHDRAWN AND REDEPOSITED IN SUCH A POSITION, THERE ARE CERTAIN DEPO SIT AND CREDIT ENTRIES IN THE BANK ACCOUNT. THEREFORE, ONL Y DEPOSIT IN THE BANK CANNOT BE CONSIDERED. DURING THE COURSE OF HEARING, THE LEARNED COUNSEL FOR THE ASSESS EE HAS FILED STATEMENT IN PAPER BOOK A-2 WHEREAS HE HAS EXPLAINED THE DEPOSIT AND SUBMITTED THAT OPENING BALANCE WAS RS.5048/-, INTEREST WAS RS.9727/-. THE NET DEPOSI T IN THE BANK WAS RS. 37,43,875/- OUT OF WHICH RS.16,99,58 5/- SMT. SUDHA PATEL ITA NO. 390/IND/2015 16 WAS WITHDRAWN. THEREFORE, THE REMAINING AMOUNT IS RS. 20,44,290/-. THE ASSESSEE HAS GIFT OF RS. 5,50,000/- , SALE OF PLOT RS. 5 LACS AND AGRICULTURAL INCOME OF RS.10,50, 000/- THE ASSESSEE HAS MADE WITHDRAWAL WHICH WAS REDEPOSITED. MOREOVER, THE ASSESSEE HAS RECOVERED THE AMOUNT FROM THE DEBTORS WHICH COMES TO RS. 8,88,790/-. THUS, THE AM OUNT REFLECTED IN THE CASH BOOK IS RS. 20,44,029/-. THERE FORE, THE ASSESSEE WAS ABLE TO EXPLAIN ALL THE AMOUNTS IN SBI BANK ACCOUNT. 10. ON THE OTHER HAND, THE LEARNED DR SUBMITTED THAT AS PER THE BANK ACCOUNT, THE ASSESSEE HAS PRODUCED THE BANK STATEMENT FROM 1.4.2009 TO 31.3.2010 WHEREIN ON 31.3.2010, THE ASSESSEE HAS DEPOSITED RS. 20,44,290/- . THE CASH DEPOSIT ON 29.3.2010 WAS RS. 4 LACS, ON 30.3.2010 WAS RS.10,26,500/- AND ON 31.3.2010 RS.6,08,600/- WHICH COMES TO RS. 20,44,029/-. CONSIDERING THE SUBMISSIONS AND THE CASH WITHDRAWALS, SMT. SUDHA PATEL ITA NO. 390/IND/2015 17 THE LEARNED CIT(A) HAS GIVEN RELIEF OF RS.5,50,000/- ON THE GROUND THAT THIS AMOUNT OF GIFT WAS NOT ACCEPTABLE. WHI LE CONFIRMING THE ADDITION THE LEARNED CIT(A) HAS GIVEN C REDIT OF THIS AMOUNT. THEREFORE, OUT OF RS. 20,45,949/- TH E REMAINING RS.14,95,949/- WAS ADDED TO THE TOTAL INCOME OF THE ASSESSEE. THE ASSESSEE HAS RELIED UPON THE BANK STATEMENT BUT THE BANK MANAGER HAS GIVEN A LETTER WHEREI N HE HAS ONLY SHOWN THE BALANCE ONLY AND NOT THE TOTAL DEPOSITS DURING THE YEAR. THEREFORE, THE LEARNED CIT (A) HAS RIGHTLY CONFIRMED THE ADDITION OF RS.14,95,949/-. 11. WE HAVE HEARD BOTH THE SIDES. LOOKING TO THE FACT S AND CIRCUMSTANCES OF THE CASE AND GOING THROUGH THE ASSESSMENT ORDER AND THE ORDER OF THE LEARNED CIT(A), WE FIND THAT THE ASSESSING OFFICER HAS MAINLY RELIED UPON THE AIR INFORMATION THAT THE ASSESSEE WAS HAVING DEPOSIT OF RS. 37,29,100/-. THEREFORE, THE ASSESSING OFFICER TRIED TO VERIFY THE SOURCE OF THIS DEPLOSIT IN THE BANK ACCOUNT. FROM THE SMT. SUDHA PATEL ITA NO. 390/IND/2015 18 ASSESSMENT ORDER THE ASSESSING OFFICER WAS OF THE VIE W THAT FROM THE BANK STATEMENT FURNISHED BY THE ASSESSEE IT I S EVIDENT THAT THE ASSESSEE HAS DEPOSITED RS. 37,29,100/ - IN THE BANK ACCOUNT. THE ASSESSING OFFICER HAS VERIFIED T HE CASH BOOK FURNISHED BY THE ASSESSEE AND THE ASSESSING OFFICER WAS OF THE VIEW THAT FROM THE CASH BOOK THE ASSESSEE HAS RECEIVED RS. 10,75,000/- FROM RECOVERY O F DEBT AND RS. 5 LACS WERE RECEIVED AGAINST SALE OF PLOT. THEREFORE, THE ASSESSEE HAS BEEN ABLE TO EXPLAIN RS.15,75,000/- AND FOR REST OF THE AMOUNT THE ASSESSEE NOT UNABLE TO EXPLAIN. THEREFORE, HE MADE THE ADDITION OF RS.20,45,949/-. THE LEARNED CIT(A) HAS CONFIRMED THE ADDITION OF RS. 5,50,000/- AND WE HAVE ALSO CONFIRMED T HE SAME. THEREFORE, IN OUR OPINION, THE LEARNED CIT(A) H AS RIGHTLY GIVEN RELIEF OF RS. 5,50,000/- AND WE ENDORS E THE ACTION OF THE LEARNED CIT(A). THEREFORE, THE QUESTION REMAINS WHETHER THE ASSESSEE HAS TO PROVE THE REMAINING SMT. SUDHA PATEL ITA NO. 390/IND/2015 19 AMOUNT OF RS. 14,95,949/-. IN RESPECT OF RS. 14,95,9 49/- THE ASSESSEE SUBMITTED THAT THIS AMOUNT HAS BEEN REFLEC TED IN THE CASH BOOK AND THE ASSESSEE SUBMITTED THAT THIS AMOUNT WAS WITHDRAWN BY THE ASSESSEE AND IT WAS REDEPOSITED IN THE BANK ACCOUNT WHICH IS EVIDENT FRO M THE BANK STATEMENT FILED BY THE ASSESSEE AT PAGE A-1 OF THE PAPER BOOK. THE ASSESSEE HAS MADE TOTAL WITHDRAWAL OF RS.16,99,585/- AND OUT OF THIS HE HAS REDEPOSITED THE AMOUNT IN THE BANK WHICH IS REFLECTED IN THE CASH BOOK . THEREFORE, IN OUR OPINION, THE ASSESSEE IS ABLE TO EX PLAIN THE SOURCE. THEREFORE, NO ADDITION IS CALLED FOR. 12. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS P ARTLY ALLOWED. PRONOUNCED IN OPEN COURT ON 22 SEPTEMBER, 20 16 SD/- SD/- (O.P. MEENA) (D.T. G ARASIA) ACCOUNTANTMEMBER JUDICIAL MEMB ER 22 SEPTEMBER, 2016 DN/- SMT. SUDHA PATEL ITA NO. 390/IND/2015 20 SMT. SUDHA PATEL ITA NO. 390/IND/2015 21