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2023 (2) TMI 1253 - ITAT AMRITSARAdditions u/s 69A - unexplained money deposited in bank account - as submitted that the cash deposit in bank have been made by the assessee out of the previously withdrawn cash - case of the assessee was selected for “Limited Scrutiny” on the ground “Large Value cash deposits during demonetisation period as compared to Returned Income” HELD THAT:- The said facts have been duly explained by the assessee even before revenue authorities. The assessee had withdrawn the cash from her bank account maintained with Oriental Bank of Commerce. The cash flow statement was submitted from 01.04.2013 to 31.03.2017 by the assessee before the the ld. AO. Both the revenue authorities have not found any specific lacuna in the cash flow statement of assessee. We respectfully relied on the order of Shivcharan Dass vs. CIT, [1980 (4) TMI 74 - PUNJAB AND HARYANA HIGH COURT] & Shri M Prabhakar [2016 (11) TMI 1685 - ITAT HYDERABAD] and Smt Veena Awasthi, [2018 (12) TMI 206 - ITAT LUCKNOW] - As revenue has not filed any contrary judgment against the submission of assessee. The cash trail of the assessee undoubtedly stated that the sufficient cash balance was with the assessee to explain the deposit of cash in bank account. Accordingly, the order of the ld. CIT(A) is dismissed. Assessee appeal allowed.
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