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2018 (9) TMI 148 - ITAT DELHIUnexplained deposits - amount received on sales transactions of agricultural land - amount deposited in the bank account of the assessee by mistake - Held that:- In the instant case, nothing is brought on record to substantiate that the amount was deposited by Shri Sunil Kumar, (the assessee) and it was withdrawn by him from his account because no deposit slip filled by the assessee. Sh. Sunil Kumar or withdrawal form was produced before the AO rather it was stated that no record was available with him which clearly proves that the amount was deposited by Sh. Kulwant Singh and not by the assessee and when the bank realised its mistake the entry was reversed and the amount was the deposited in the account of the six persons. In the present case, nothing is brought on record that the sale proceeds from the family land claimed to be received on 15. 02. 2011 or 16. 02. 2011 was utilized elsewhere and not deposited in the bank accounts of aforesaid six persons. The impugned amount was wrongly added in the hands of the assessee, particularly when the same amount was credited in the names of 6 persons. The said amount received from the sale proceeds of the land can not be stated to be related to the assessee as well as the other six persons at a same time. If it was to be presumed that said amount belonged to the assessee then there should have been another amount which was deposited in the bank account of the six persons. Nothing is brought on record to substantiate that the amount deposited in the bank account of the assessee by mistake, was different from the amount deposited in the bank account of the six persons out of the sale proceeds of the agricultural land. Impugned addition made by the AO and sustained by the Ld. CIT(A) was not justified. Addition made by the AO and sustained by the Ld. CIT(A) is deleted. - Decided in favour of assessee
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