DCIT Vs. ZUBAIR SIDDIQUI

JUDGEMENT

(1.) THIS appeal is preferred by the Revenue against the order of the ld. CIT(A), inter alia, on the following grounds: -

(2.) Apropos ground No. 1, during the course of assessment proceedings, the Assessing Officer has noticed that the assessee has filed the return of income declaring total income at Rs. 8,03,480/ - and agricultural income was shown at Rs. 20,00,750/ -. The Assessing Officer has noticed that in the joint SB account in the name of the assessee and his brother, Shri. Sheik Mohd. Tarique with Bank of Baroda, Chowk, Lucknow there is cash credit entries of Rs. 39,31,550/ -. The assessee was required to furnish source of these cash credit entries and in response thereto it was stated on behalf of the assessee that the cash deposit in the joint SB account is out of sale proceeds of Mango Orchard and different crops. It was also explained that from these source the assessee has declared agricultural income at Rs. 20,00,750/ - in his return of income. In order to substantiate the agricultural income, the assessee has also produced Khasra and Khatauni and auction papers of Mango Orchard before the Assessing Officer. The details of auction papers are as under: -

(3.) The Assessing Officer has analyzed these auction papers and has noticed that the auction papers were not on stamp papers and there are certain discrepancies in the signatures of bidders and witnesses on the auction papers. He accordingly doubted the explanation of the assessee and treated the entire deposit in the joint bank account as unexplained cash credit and made addition of the same.