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2023 (5) TMI 628 - AT - Income TaxUnexplained cash deposit during demonetization period - As submitted that the assessee is a housewife and her husband practice as a Registered Clerk with the Hon’ble Calcutta High Court and is a Cancer Patient and undergoing medical treatment since 2005 and assessee being housewife kept small savings for the purpose of medical treatment of her ailing husband and when the scheme of demonetization was announced, she deposited her past savings in the bank, which were on account of three-dhan and this should not be treated as unexplained investment. HELD THAT:- We notice that so far as the cash deposit of Rs.6,10,000/- made during the period 14.12.2016 to 16.12.2016, there is a cash withdrawn of Rs.9,00,000/- on 13.12.2016 and for the lack of specific finding by the ld. AO as to whether the deposits between 14.12.2016 to 16.12.2016 were in old currency or new currency, we give the benefit of doubt to the assessee and hold that the source of cash deposit of Rs.6,10,000/- between 14.12.2016 to 16.12.2016 was the cash withdrawal made on 13.12.2016 and thus the addition for unexplained cash deposit u/s 69 is uncalled for on the said sum of Rs.6,10,000/-. So far as the remaining amount of Rs.9,31,000/-, considering the fact that the assessee is a housewife and she had kept certain savings for the purpose of treatment of her ailing husband undergoing Cancer Patient. We accept that assessee was having stridhan to the tune of Rs.2,00,000/- as on 01.04.2016 and further allow the benefit of the minimum non-taxable limit for A.Y. 2017-18 at Rs.2,50,000/- and give further relief of Rs.4,50,000/- as explained cash and accordingly sustain the addition at Rs.4,81,000/- u/s 69 of the Act and partly allow the appeal of the assessee.
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