TMI Blog2022 (12) TMI 739X X X X Extracts X X X X X X X X Extracts X X X X ..... his personal savings - HELD THAT:- It is pertinent to note that the assessee during the assessment proceedings has explained the reasons for which the assessee collected the cash deposits as well as the arrangement for the money. The assessee submitted evidence related to amount withdrawn from Teachers society which was accepted by the AO. Besides this the confirmations from sister-in-law regarding the loan and gift from father-in - law were also on record. The same were not doubted by the AO. The Gift from wife was also explained by the assessee through bank statements. Regarding personal saving the CIT(A) doubted that the assessee could not save that much amount. But the assessee was working as pharmacist in Government Hospital since ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n was duly processed under Section 143(1) of the Income Tax Act, 1961. Subsequently, the Assessing Officer received AIR information that during F.Y. 2010-11 relevant to A.Y. 2011-12, the assessee deposited total cash of Rs. 15,70,000/- in State Bank of India, Lunawada. Therefore, the then ITO issued a query letter to the assessee on 30.07.2013 and requested to submit the copy of return of income filed for A.Y. 2011-12 with computation of total income, supporting bank account statement, source of cash deposit with documentary evidences etc. In response, the assessee filed reply along with return of income and Form 16 only. The Assessing Officer made addition of Rs. 12,70,000/- on account of unexplained cash deposits in Bank account and Rs. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y which was accepted by the Assessing Officer. Besides this the confirmations from sister-in-law regarding the loan and gift from father-in - law were also on record. The same were not doubted by the Assessing Officer. The Gift from wife was also explained by the assessee through bank statements. Regarding personal saving the CIT(A) doubted that the assessee could not save that much amount. But the assessee was working as pharmacist in Government Hospital since 1976 and received salary, therefore, personal saving of a government employee cannot be doubted for several years. Thus, the Assessing Officer as well as the CIT(A) both failed to take cognizance of the evidences produced by the assessee during the assessment proceedings as well as b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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