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2022 (11) TMI 820 - AT - Income TaxAddition u/s 69A - cash deposited in the bank - income from undisclosed sources which was deposited in the bank account and the same is treated as unexplained cash deposit u/s 69A - HELD THAT:- As we note that assessee has duly explained before the AO that amount withdrawn from the bank was redeposited after a lapse of very few days in the same bank. In my considered opinion, authorities below are not justified in disallowing the small sum of Rs.75,000/-. CIT (A) in fact has not applied any mind and he has only harped upon that the assessee had not appeared before him. The assessee had sufficient income and has duly withdrawn the amount from the bank and the same was redeposited. Hence, in my considered opinion, orders of the authorities below are not sustainable and accordingly, the same are set aside and the issue is decided in favour of the assessee.
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