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2022 (11) TMI 369 - AT - Income TaxAddition being deposit in Bank - HELD THAT:- As assessee has submitted the cash deposit summary before the lower authorities. The proof of amount received from his father as a gift is placed at record. The assessee has business receipts from Kishorbhai Sheladiya, assessee has received business receipts from Bramani Fashion, business receipts and assessee has withdrawn cash on 20.03.2014. This way the assessee has explained the cash deposit. We note that all the evidences pertaining to this cash receipts have been furnished before the lower authorities and they did not point out any defects in the evidences and the documents submitted by the assessee. We note that Ld. CIT(A) has not refuted or discredited these evidences and documents submitted by the assessee. The Ld. CIT(A) did not mention in his order that why he is not accepting these evidences submitted by assessee. It is a well-settled law that when an assessee has all the possible evidence in support of its claim, they cannot be brushed aside based on surmises. Hence, we delete the addition sustained by ld. CIT(A). Appeal filed by the assessee is allowed.
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