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2023 (3) TMI 463 - ITAT VISAKHAPATNAMAddition u/s 69A - unexplained cash deposits in the bank account of the appellant - contention of the assessee is that he has received the amount from his parents and wife, who are also assessed to income tax and they have given confirmation letters - contention of the revenue on this aspect is that there is time gap between the sale deed and deposit of cash in the bank account of the assessee - HELD THAT:- It is not a valid reason to make addition u/s 69A simply for the reason that there is time gap. The persons, who gave money are none other than the assessee’s parents and wife. The assessee has filed paper book, which established the sale transaction of the family members, considering the above evidence. Therefore, that the assessee has explained his source properly. Therefore, direct the AO to delete the addition made u/s 69A - Appeal of the assessee is allowed.
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