ITA No. 948/CHD/2012, (Assessment Year: 2008-2009). Case: Neeraj Chhabra Vs The ACIT. ITAT (Income Tax Appellate Tribunal)
| Case Number | ITA No. 948/CHD/2012, (Assessment Year: 2008-2009) |
| Counsel | For Appellant: S.R. Chhabra and For Respondents: Akhilesh Gupta |
| Judges | T.R. Sood, Member (A) and Sushma Chowla, Member (J) |
| Issue | Income Tax Act, 1961 - Sections 133(6), 139(4)(b), 143(10), 153, 246(1)(c), 69A |
| Judgement Date | August 08, 2014 |
| Court | ITAT (Income Tax Appellate Tribunal) |
Order:
T.R. Sood, Member (A), (ITAT Chandigarh 'B' Bench)
1. This is an appeal filed by the assessee against the order dated 18.07.2012 of CIT (Appeals)-II, Ludhiana.
2. In this appeal the assessee has raised the following grounds:-
21. That the Ld. Commissioner of Income Tax (Appeals)-II, Ludhiana has erred in law and on the facts of the case:-
a) By arbitrarily and wrongly sustained the addition of Rs. 14 Lacs made u/s. 69A of the Income Tax Act, 1961.
2. That the above said order is bad in law & contrary to the facts of case.
3. It is therefore, prayed that the appeal may please be accepted and such relief may kindly be allowed which may be deemed fit and proper under the circumstances of the case.
4. The assessee craves permission to file/raise/amend any other ground of appeal at the time of hearing.
3. At the outset, we would like to point out that assessee has filed an application dated 23.8.2013 which was placed on record for admission of additional evidence which mainly consists of replies given to the Assessing Officer, copies of nothing sheets during assessment proceedings and extracts of some cash book. However, during the course of hearing Ld. Counsel for the assessee did not whisper a word in respect of this application, therefore, we presume that he does not wish to press the request for admission of this additional evidence. In any case, the additional evidence in the form of replies etc. have already been considered by the Assessing Officer, therefore, we reject this application.
4. After hearing both the parties we find that Assessing Officer had received AIR information that assessee had deposited some cash in the Central Bank of India. The information was obtained from the Central Bank of India u/s. 133(6). It was confirmed by the bank that there was an account in the name of Shri Neeraj Chhabra i.e. the assessee bearing Account No. 1252643038 and following cash deposits were made.
5. The assessee was asked to produce the cash book and on perusal of the cash book it was found that no entries for cash deposits on the date specified by the bank were there. The assessee was asked to reconcile the bank account with the cash book. The assessee gave following reply vide letter dated 26.11.2010.
1. "That the asse4ssee is doing the business of manufacturing in auto & machinery parts etc. since a long and apart from this wine contractor ship up to 31.03.2008.
2. That the assessee maintains a saving bank account in Central Bank of India, Industrial Area Ludhiana vide savings account No. 1252643038 which is being reflected in personal account through cash or cheque entries & all the deposits in this account are being mad after received from firm not from any other source.
3. That during the Financial Year 2007-08 the assessee withdraws/deposited certain amounts in cash from firm and deposited the same in bank saving account as per bank saving account statement for the purpose of get wine contract ship business from the State Excise Department in the individual capacity as per State Government Norms and accordingly same were deposited in the shape of...
To continue reading
Request your trial