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2017 (1) TMI 979 - AT - Income TaxUnexplained cash deposited in bank account - whether the amount found deposited in the assessee’s bank account can be stated to be explained by the sale of agricultural land to M/s Triveni Infrastructure Development Co. by the assessee’s father or not? - Held that:- No effort has been made by the tax authorities to address the affidavits of the assessee and his father admittedly on record. Specific land was sold by the assessee’s father and the cheques issued by M/s Triveni Infrastructure Development Co. were not honoured by the Bank is a consistent unrebutted claim on record. The amount ultimately was handed in cash by M/s Triveni Infrastructure Development Co. is also a consistent claim on record. Copies of bank pass books of its father and son of the assessee in support of the affidavits filed are also stated to be on record. Thus find that on these material documents there is no discussion whatsoever in the orders of the tax authorities. Accordingly, holding the order devoid of discussion on material facts, the impugned order is set aside and the issue is restored back to the file of the AO directing the said authority to pass a speaking order denovo in accordance with law after giving the assessee a reasonable opportunity of being heard. - Decided in favour of assessee for statistical purposes.
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