Shri Kolandasamy Vs ITO (ITAT Chennai)
ITAT Chennai held that cash received under unregistered will accepted as will furnished by the assessee not established as fabricated one by the department and there is no requirement in law to get the will registered. Accordingly, addition u/s. 69 towards cash deposited set aside.
Facts- The assessee’s case was reopened and notice u/s 148 was issued on 12-03-2019. The cash deposit of Rs.15.50 Lacs was added u/s 69A whereas the agricultural income of Rs.9.37 Lacs was brought to tax as ‘income from other sources’. The capital gains of Rs.0.41 Lacs were accepted to be agricultural income. CIT(A) confirmed the stand of Ld. AO against which the assessee is in further appeal before us.
Conclusion- Held that the assessee has furnished unregistered will executed by his late father. According to the will, the assessee has received Rs.25 Lacs during the year which is stated to be the source of cash deposit. It could be noted that there is no requirement in law to get the will registered. There is also no requirement that it should be notarized. The will executed even on a plain paper is admissible. Once the assessee has furnished the same and discharged the onus, the same could not be brushed aside by lower authorities without bringing concrete evidence on record to establish that the will was fabricated one. In the absence of such an exercise, the explanation of the assessee has to be accepted. Therefore, the source of cash deposit of Rs.15.50 Lacs has to be accepted.
