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2021 (11) TMI 239 - AT - Income TaxUnexplained cash deposits - No source of cash deposits given during the year in the two bank accounts maintained by the assessee - whether any on-money received by the assessee in cash over and above the declared sale consideration? - HELD THAT:- As per cash flow statements and find that the assessee has sufficiently explained the source of deposits in form of salary and other retirement benefits which have been duly declared and withdrawals towards household expenses which are partly funded by him and partly by his wife and therefore, availability of cash in hand at the beginning of the year has been sufficiently explained. In the result, we hereby direct the Assessing officer to delete the addition so made in the hands of the assessee towards unexplained cash deposits - Decided in favour of assessee.
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