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2023 (9) TMI 1415 - ITAT SURATAddition on account of cash deposits in bank account of HDFC Bank - unexplained investment u/s.69A - HELD THAT:- We note that the details of contra-entry/ cancelled cheques, are there in the bank statement and the AO could have examined these contra-entries suo moto while making the assessment, however the AO has failed to do so. Therefore, just to file a summary of the same bank statement, (which was available in the file the AO), by the assessee, before the Bench, in the form of contraentry (cheque dishonour), is not an additional evidence, as these contra-entries / (cheque dishonour) details were available in the bank statement, which could be examined by the Assessing Officer, during the assessment stage. Therefore, I note that the details of contra-entry/ cancelled cheques were on the file of the Assessing Officer, hence the second inning should not be given to the assessing officer to examine the same facts again. We note that the total credit in the bank statement, after eliminating contra-entries, comes to Rs.23,24,831/-. Therefore, to meet the end of justice an addition at the rate of 5% on total credit in the bank statement may be a reasonable addition in the hands of the assessee. For this, we rely on the judgment of Smt. Krushangi Keyur Bhagat vs ITO [2018 (9) TMI 2093 - ITAT SURAT] wherein the Tribunal sustained the addition at the rate of 5% of total deposits.
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