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2022 (8) TMI 303 - AT - Income TaxAddition u/s 69A as unexplained cash deposits in bank account which the assessee deposited on account of demonetization - HELD THAT:- As observed from the record that the assessee as meticulously given case flow statement giving different date wise cash available is supported by the bank statement placed on record. The assessee has also placed on record the affidavit of his mother supported by the withdrawal made by her mother from her bank accounts all these evidences, the Revenue failed to establish any fault or contrary finding to this bulk of papers and merely the addition sustained on account of suspicious reasons. We also find force in the argument of assessee that the assessee has deposited the demonetization money at one instant only proves that the assessee is having these much of cash and on account of demonetization she has not choice but to deposit in Bank. In these observations, ground No. 2 raised by the assessee is allowed. Unexplained credit entries in bank account u/s 69 - At the time of hearing of the appeal before ld. CIT(A) assessee requested time to submit the evidence but the same were not placed on record on account of corona virus - HELD THAT:- Considering the additional evidence placed on record the contentions raised by the assessee that the credit is already explained based on the evidence placed on record. Since, we have based on the argument of the ld. AR of the assessee admitted that these additional evidences but since these evidence were not placed before the AO we deem it fit to set aside this issue to the file of the Assessing Officer to verify the veracity of the record and contention raised by the assessee. Giving sufficient opportunity to the assessee. The AO is directed to decide whether based on the evidences placed on record the addition of Rs. 2,00,000/- is required to be added or not and with this observation the ground no. 3 raised by the assessee is allowed for statistical purposes. Deduction u/s 80C made in respect of HDFC life insurance - HELD THAT:- CIT(A) did not deal this issue as assessee has not placed on record a petition under Rule 46A but assessee contended that details are already in bank statement. Considering the overall facts we also feel that let this issue also be verified by ld. AO based on the evidence the assessee has placed on record. Thus, this ground No. 5 is also allowed for statistical purposes.
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