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2021 (7) TMI 886 - AT - Income TaxUnexplained cash deposits in bank accounts - assessee claimed to be received cash gift from his father - HELD THAT:- The true transaction supported with the evidences cannot be denied in absence of any other contrary evidences on record. Assessing Officer could not revert facts of date of cash deposits on 27.07.2013 in the bank account which was supported by the sale agreement dated 25.07.2013, bank statement of the assessee and also by the affidavit of his father and statements of his father. The lower authorities have not stated that these documents are after thought and after the date of deposits. The assessee has furnished various evidences as two sale agreements dated 25.06.2013 and 25.07.2013 respectively, affidavit, statements of father recorded by the AO. All these cannot be said self-serving evidences and the AO nowhere found any contradiction in these evidences. Thus, here the assessee has not only proved source of cash deposit but also source of source. When the donor had been examined by the Assessing Officer himself admittedly who had given the money to the assessee which not disproved by the authority. The Assessing officer has not found any contradiction in the affidavits, statements and agreements etc. The assessee has also proved, identity (not denied by the AO), genuineness which the ld. AO not disputed, Capacity has also been proved by the assessee by filling various material evidences as above and has not been doubted as he did not speak a single word on the capacity of the donor. The persons fully explained the sources of gift given by him with the material evidences We are of the view that the assessee has proved the source of source of deposit in his savings bank account, therefore, we direct the A.O. to delete the addition made qua this issue. - Decided in favour of assessee.
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