Income Tax Appellate Tribunal - Delhi
Meenu Rani, Meerut vs Ito, Ward-1(1)(4), Meerut on 13 October, 2022
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH 'SMC', NEW DELHI
BEFORE SH. N.K. BILLAIYA, ACCOUNTANT MEMBER
ITA No.1260/Del/2021
Assessment Year: 2017-18
Meenu Rani, ITO
210B, West End Road, Vs Ward- 1 (1) (4)
Meerut Cantt, Meerut, U.P. - Meerut
250001
PAN No.ACFPR6259P
(APPELLANT) (RESPONDENT)
Appellant Sh. Rohit Aggarwal, CA
Respondent Sh. Om Parkash, Sr. DR
Date of hearing: 10/10/2022
Date of Pronouncement: 13/10/2022
ORDER
PER N.K. BILLAIYA, AM:
This appeal by the assessee is preferred against the order dated 30.08.2021 by CIT(A), National Faceless Centre, (NFAC).
2. The only grievance of the assessee is that the CIT(A) erred in confirming the addition of Rs.11.48 lacs made by the AO as income from undisclosed sources u/s 69 A of the Act.
3. Briefly stated the facts of the case are that the assessee is an individual having rental income, commission income, Pension 2 income from LIC and interest income from bank and NSCS during the year under consideration. The return was selected for limited scrutiny under CASS to examine the cash deposits totalling to Rs.11.48 lacs in her bank account during demonetization period. The assessee was asked to explain such cash deposited in the bank. In her reply the assessee stated that the cash was deposit out of accumulated cash balance during the period from 01.04.2015 to 08.11.2016 out of bank withdrawals and capital withdrawal of Rs. 15 lacs on 15.04.2015 from the partnership firm M/s. Aggarwal Associates. The explanation of the assessee did not find any favour with the AO who was of the opinion that the assessee could not justify by giving any plausible reason for keeping such huge amount of cash at home when she is having a bank account. The AO accordingly made the addition of Rs.11,48,000/-.
4. The assessee agitated the matter before the CIT(A) but without any success.
5. Before me the Counsel for the assessee reiterated what has been stated before the lower authorities.
6. Per contra the DR strongly supported the assessment order.
7. I have given a thoughtful consideration to the orders of the authorities below and have duly considered the relevant 3 documentary evidences brought on record in the light of Rule 18 (6) of the ITAT Rules.
8. I find that the entire explanation of the assessee is based upon the facts that she had deposited Rs.11.48 lacs in her bank account out of accumulated cash from 01.04.2015. A perusal of the copy of cash book show that the opening cash balance was Rs.71,199/- as on 01.04.2015 and on 05.04.2015 the assessee had received Rs.15 lacs in cash from M/s. Aggarwal Associates the claim of the assessee is that Rs.11.48 lacs was deposited out of the cash withdrawals from M/s. Aggarwal Associates. However, on close perusal of the cash book after 05.04.2015 I find that the assessee has withdrawn cash from her bank account as under :-
9. I fail to understand when the assessee claim of holding Rs.15,00,000/- cash in hand then why did she withdrew cash from her bank account regularly as mentioned here in above.
410. On the given facts I do not find any force in the contention of the Counsel wherein he stated that there is no evidence brought on record for any other usage of cash withdrawn from the firm M/s. Aggarwal Associates. Considering the facts of the case in totality I do not find any merit in the explanation of the assessee which would warrant to interfere with the findings of the CIT(A). The appeal of the assessee is accordingly dismissed.
Order pronounced in the open court on 13.10.2022.
Sd/-
(N. K. BILLAIYA) ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .10.2022 Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI 5 Date of dictation 11.10.2022 Date on which the typed draft is placed 12.10.2022 before the dictating Member Date on which the typed draft is placed 13.10.2022 before the Other member Date on which the approved draft comes to 13.10.2022 the Sr.PS/PS Date on which the fair order is placed before 13.10.2022 the Dictating Member for Pronouncement Date on which the fair order comes back to 14.10.2022 the Sr. PS/ PS Date on which the final order is uploaded 17.10.2022 on the website of ITAT Date on which the file goes to the Bench Clerk Date on which file goes to the Head Clerk.
The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order