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2022 (6) TMI 1333 - AT - Income TaxAddition being cash deposit made into his bank account during the demonetisation period - HELD THAT:- A.R. took us through the copies of bank account placed in the paper book. A perusal of the same would show that the assessee has withdrawn a sum from his bank account maintained with ICICI Bank on 05.06.2015. We notice that the assessee has withdrawn cash in small amounts in subsequent period also. Since the assessee is an aged person and retired from army, it is quite possible that the assessee had kept the money in cash with him in order to meet medical emergencies. The assessee is a pensioner and there is no other material to show that the cash withdrawn earlier had been spent away. Accordingly explanation of the assessee that he has made the deposit out of the cash withdrawal made earlier is quite plausible. Accordingly sources for making deposits stand explained in this case. Appeal filed by the assessee is allowed
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