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2023 (10) TMI 562 - DELHI HIGH COURTUnexplained cash deposit - loss suffered by the appellant/assessee while trading in equities and commodities - assessee had not filed his Return of Income (ROI) - assessee’s submission that both the CIT(A) as well as Tribunal have failed to notice that the AO had made no addition with regard to the presumptive income said to have been earned by him on account of trading in equity and commodities, the submission being that if the loss in trading and equity was considered then the addition made by the Tribunal would get set-off - HELD THAT:- A plain reading of paragraph 5 does indicate that after considering the reply of the appellant/assessee, the AO dropped the proposed addition with regard to the profit said to have been made by the appellant/assessee while trading in equity and commodities. This aspect somehow was not noticed both by the CIT(A) as well as the Tribunal. As noticed hereinabove by us, the Tribunal only dealt with the addition made on account of cash deposit which it chose to scale down to Rs. 2,50,000/- from Rs. 5,82,385/-. Question of law, as framed, must be answered in favour of the appellant/assessee for statistical purposes.
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