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2021 (4) TMI 1188 - AT - Income TaxAddition on account of the amount deposited in the saving bank account of the assessee maintained with Punjab National Bank - as per CIT-A substantial deposits both in cash and cheque and the agriculture income had been found to be deposited in the assessee's bank account by means of account payee cheques, in these circumstances, there was an onus on the assessee to explain the sources of deposits in cash which had not been cogently done. He therefore sustained the addition - HELD THAT:- As the assessee was an aged person who was an agriculturist at the relevant time and was selling the agriculture produce therefore his source of income was only the agricultural income which has been accepted by the Department. The assessee was not having any other source of income or doing any other business/profession, therefore the explanation given by the assessee for depositing the amount of ₹ 48,56,000/- out of withdrawals of ₹ 68,00,000/- appears to be plausible. In that view of the matter the impugned addition made by the A.O. and sustained by the Ld. CIT(A) is deleted. Appeal of the Assessee is allowed.
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