TMI Blog2021 (8) TMI 774X X X X Extracts X X X X X X X X Extracts X X X X ..... oresaid facts, we direct the deletion of addition - Appeal of assessee is allowed. - ITA No. 3138/Del/2018 - - - Dated:- 18-8-2021 - SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. KULDIP SINGH, JUDICIAL MEMBER Assessee by : Shri Akhilesh Kumar, Adv. Revenue by : Ms. Anima Baranwal, Sr. D.R. ORDER PER ANIL CHATURVEDI, AM: This appeal filed by the assessee is directed against the order dated 21.03.2018 passed by the Commissioner of Income Tax (Appeals)-2, Noida relating to Assessment Year 2014-15. 2. The relevant facts as culled from the material on records are as under : 3. Assessee is an individual who electronically filed his return of income for A.Y. 2014-15 on 30.10.2014 declaring total income at ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat on perusal of the AIR information, it was noticed that assessee has deposited cash of ₹ 99,99,000/- and ₹ 13,47,000/- in cash in saving bank account maintained with Bank of Baroda. Assessee was asked to explain as to why the addition of the aforesaid amount not be made as unexplained deposit/investment. AO noted that no details were furnished by the assessee. He accordingly considered the aggregate cash deposits amounting to ₹ 1,13,46,000/- as unexplained cash deposit / unexplained investment u/s 69 of the Act and added it to the income. Aggrieved by the order of AO, assessee carried the matter before the CIT(A). CIT(A) after considering the submissions of the assessee, remand report of the AO and assessee s reply to r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... used the materials available on record. The issue in the present case is with respect to the deposit of ₹ 11,47,000/- made in cash in this bank account and which has been considered as unexplained and added to the income. It is an undisputed fact that out of the total cash deposits of ₹ 13,47,000/- CIT(A) granted relief to the extent of ₹ 2 lakh and upheld the addition of balance of ₹ 11,47,000/-. Before us, it is AR s submission that assessee is a Railway Guard working with India Railway since 1984 and has been receiving salary in cash from his employer up to Feb, 2015. Learned AR has also pointed to the salary as per Form 16 for A.Y. 2012-13 to be at ₹ 10,42,763/- and for A.Y. 2014-15 at ₹ 11,38,262/-. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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