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2023 (2) TMI 561 - ITAT BENGALURUUnexpalined cash deposits - assessee has stated that the amounts of cash deposits include agricultural income, amount returned by brother, hand loan from father, re-deposit of earlier withdrawals and amounts withdrawn and re-deposited to maintain standard cash limit of the branch on Friday - HELD THAT:- Owning of agricultural land measuring 2 acres and 4 gundas is supported by RTC copy. Hence, earning of agricultural income cannot be doubted. However, the assessee’s source of total income as detailed above is only Rs,11,31,000/- other than from salary. Assessee being employed in bank earned returned income of Rs.2,77,000/- only. Considering these facts, source available to the assessee to deposit into the bank account to be considered around Rs.10,00,000/- out of Rs.11,31,000/- as explained above. The balance amount of Rs. 4,06,150/- to be considered as unexplained and to that extent addition to be sustained. Accordingly direct the AO to make an addition of Rs.4,06,150/- as unexplained income of the assessee. Ordered accordingly.
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