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2022 (10) TMI 113 - AT - Income TaxUnexplained cash deposits - whether impugned cash deposits to the joint bank account of the assessee and her mother belonged to the assessee? - department alleges that the impugned deposits have been made by the assessee, whereas the assessee has successfully demonstrated that these deposits have been made by her mother out of cash withdrawals made by her on 15.01.2009, much earlier than the dates of impugned deposits - HELD THAT:- It is of the opinion that only because the assessee now has been mentioned as joint account holder of the bank account to which the impugned cash deposit has been made, the additions cannot be made and sustained in the hands of the assessee, keeping aside other relevant evidences, which clearly reveal that the mother of the assessee had withdrawn an amount of Rs.50 lakh from her bank account and the impugned three deposits have been made to the same bank account by her mother out of the amount withdrawn earlier. CIT(A) was not correct and justified in confirming the addition of Rs.6,70,000/- in the hands of the assessee by taking cognizance of an agreement to sell dated 27.08.2009 which was not accepted by the assessee, but, was accepted by the mother of the assessee - CIT(A) has misinterpreted the relevant documentary evidence relied by the assessee and, therefore, part addition sustained by the ld.CIT(A) is also not sustainable and the AO is directed to delete the same. - Decided in favour of assessee.
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