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2024 (2) TMI 829 - ITAT SURATReopening of assessment u/s 147 - additions of cash deposits - as per AO assessee failed to file cash flow statement and other objection of assessing officer was that assessee was using cash deposit for making demand draft - HELD THAT:- AO has not brought any material on record that assessee spent/incurred such amount elsewhere. The dispute is of only time period between the withdrawal and the cash deposit. There is no dispute that mother of assessee was living in Surat. Assessee and his other family members are residing abroad. The status of assessee is accepted by Assessing Officer as NRI. Assessee has not done any business activity during the said period and stayed in India for a very few days. During stay in India, the assessee claimed that for personal need, he made withdrawal from ATM between the period 01/04/2009 to 31/03/2012. No adverse material was brought by ld. CIT(A) against such contention nor any remand report to disregard such fact was brought on record. In our view, the Assessing Officer has treated the cash deposit merely on the basis of human probability without bringing any adverse evidence on record that such cash deposit was unexplained money of assessee when the assessee was having sufficient money in his two NRE and one NRO account and explained the investment during the relevant period. In view of aforesaid observation, the additions are not justified. In the result, ground of the appeal is allowed.
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