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2017 (4) TMI 1100 - AT - Income TaxUnexplained deposits in bank account - sale proceeds of the agricultural land sold by assessee's brother-in-law - Held that:- As from the bank account and the document placed on record from which a cash flow statement is prepared and available at page 19 of the assessee's paper book in which it is mentioned that the amount the of ₹ 25 lacs has been withdrawn by the assessee from his bank account out of which ₹ 19,42,880/- is utilized for purchase of land in the name of Smt. Rajnesh Devi and on expenses of registry. Further an amount of ₹ 5 lakh is advanced to Smt. Bharti Devi and Satish Devi for purchase of land. Thus, an amount of ₹ 24,42,800/- has been utilized. There is no material to hold that any part of the withdrawn amount of ₹ 25 lacs has been retained by the assessee as his commission for facilitating the purchase of land/ use of his bank account. Therefore, on such hypothetical assumption, the addition cannot be sustained and thus the same is directed to be deleted. Hence, the solitary ground of the assessee is allowed.
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