Sh. Sanjay Godha, Jaipur vs Acit, Circle-1, Jaipur, Jaipur on 29 August, 2024
3. It is submitted that during the course of assessment proceedings for A.Y.
2016-17 where the AO required the assessee to file the personal statement of
affairs, the same was submitted vide letter dated 02.05.2018 (PB 21-25) which
shows cash balance of Rs.63,01,786/- as on 31/03/2016 (PB 23). This includes
cash balance of Rs.62,90,786/- as per the cash book filed before the AO. After
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ITA No. 539/JP/2024
Sh. Sanjay Godha vs. ACIT
considering these details the AO completed the assessment at returned income
of Rs.6,11,070/- (PB 19-20). Thus, the fact of assessee having cash in hand of
Rs.63,01,786/- as on 31.03.2016 has been disclosed to the department and
accepted by the AO.