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2012 (2) TMI 33 - ITAT JAIPURUnexplained money – assessee appointed as collecting agent by a company – required to collect the sale proceeds of the aforesaid company from its customers and deposit the same in bank wherefrom it was remitted to company through DD – Revenue contending deposits in bank as unexplained money – Held that :- Assessee produced evidences regarding its appointment as Collecting agent & that deposits related to sales collected and its remittances to company through reconciliation of bank statements of assessee and company. Further, past records of assessee reveal that she had mere income of 1.25 lacs p.a. & have there is no such asset or any other business activities from which it can be said that the assessee had earned a sum of Rs.46.55 lacs from undisclosed sources. Therefore, addition made is deleted – Decided in favor of assessee.
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