Inder Mohan Gulati v. Ito

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the bank account o f the assessee. In formation was rece ived on AIR that assessee made cash depos its o f Rs . 15,01,000/- in h is bank account in State Bank of Pat ia la, Nalagarh. On being asked to explain the source o f assessee, i t was s tated that th is account was opened with deposi t o f Rs . 1 ,000/- only on 05.01.2009. Further, assessee depos ited a cheque which he has rece ived from his brother amounting to Rs. 5 lacs on dated 09.02.2009. Further, bank i tse l f has made a cash entry of Rs. 15 lacs ( Rs . 8 lacs + Rs . 7 lacs ) to the account of the assessee . Thereafter , they t ransferred the amount o f Rs. 20 lacs towards FDR. This whole procedure was only to show deposi ts for h is son who was p lanning to go abroad. Unfortunately , son of the assessee has not gone abroad, therea fter bank, by i tse l f g iven a loan amounting to Rs . 15 lacs on dated 11.02.2009. Thereafter , bank by i tse l f has made cash wi thdrawal entry of Rs. 15 lacs which bank has g iven to the assessee as loan on 11.02.2009. A l l entr ies have been made on the same day. There fore, no addit ion should be made. The Assess ing Of f icer co l lected the copies o f the pay- in-s l ips from the bank which have been depos ited to show that amount of Rs. 1000/- was depos ited on 05.01.2009 in cash and further Rs . 8 lacs and Rs. 7 lacs have been depos ited on 11.02.2009 in cash. The s l ip shows that amount have been depos ited on 11.02.2009 in cash. The assessee , therea fter , d id not at tend the proceedings before

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Assess ing Of f icer , therefore, Assessing Of f icer treated the amount o f Rs. 15,01,000/- as unexpla ined depos it in the bank account of the assessee , source o f which was not explained. Addit ion was, accordingly, made.

4 . The assessee chal lenged the addi t ion before ld. CIT(Appeals ) and same submissions were made that entr ies are made by the bank i tse l f which was the arrangement to show depos it in the bank account for the son of the assessee who was planning to go abroad. 5 . The ld. CIT(Appeals ) , consider ing the mater ia l on record and that pay- in-s l ip shows that amount have been deposi ted by assessee in his s ignatures , conf irmed the addi t ion and d ismissed appeal o f the assessee. 6 . A f ter cons ider ing r ival submiss ions, I am not incl ined to inter fere wi th the orders of authori t ies be low. The copy o f the bank statement is f i led on record which support the f ind ings of the authori t i es be low that assessee made depos its o f cash in his bank account three t imes, as noted above, total ing to Rs. 15,01,000/-. The assessee fa i led to expla in source of the cash depos it in h is bank account . The assessee mere ly contended that i t was entry made by the bank i tse l f to accommodate h im to show some balance in h is bank account because h is son was go ing abroad, however, c la im of the assessee was fa ls i f i ed by pay- in-s l ip co l lec ted by the Assessing Of f icer

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f rom the bank which stated that three t imes, cash amounts have been depos ited in the bank account o f the assessee under the s ignature o f the assessee. The assessee has no explanat ion for the same. Whatever explanat ion was g iven, was not supported by the bank. Therefore, explanat ion of the assessee has no meri t and deserves to be d ismissed. S ince assessee fa i led to explain source o f the cash depos it in the bank account on var ious dates , as noted above, there fore , authori t i es be low were just i f i ed in making and conf irming the addi t ion on account of unexplained cash depos ited in the bank account of the assessee . The appeal o f the assessee has no mer i t . Same is , accordingly, d ismissed. 7 . In the resul t , appeal o f the assessee is dismissed. Order pronounced in the Open Court .

Sd/-

(BHAVNESH SAINI)

JUDICIAL MEMBER

Dated : 1^stMarch,2017. 'Poonam'

Copy to:

1. The Appellant

2. The Respondent

3. The CIT(A)

4. The CIT,DR Assistant Registrar, ITAT Chandigarh