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2022 (10) TMI 1024 - AT - Income TaxUnexplained cash deposited in the bank - Addition of Cash deposit in the Bank invoking section 69A - HELD THAT:- Considering the amount of cash withdrawn by the assessee during the period from 30.06.2015 to 09.10.2015 the source of which is not in dispute. We find merit in the contention of assessee that the assessee was withdrawing the cash from Bank and keeping it at home and subsequently when the demonetization scheme was announced, the assessee deposited the amount left over with him in the Bank account. Thus hold that the cash withdrawn by the assessee during the period 30.06.2015 to 09.10.2015 is sufficient to explain the source of the alleged cash deposited in the Bank - Therefore, delete the addition made under section 69A of the Act by setting aside the finding of the ld. CIT(Appeals) and allow the appeal of the assessee.
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