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2023 (3) TMI 1314 - AT - Income TaxUnexplained money u/s 69A r.w.s. 115BBE - during demonetization period, the assessee made a cash deposit - HELD THAT:- On careful perusal of bank statement, find that cash was clearly available from self-withdrawal with the assessee, therefore, the assessee has clearly explained the deposit in part. So far as remaining sum find that the assessee also made cash withdrawal of Rs. 60,000/- on 21/10/2016. Now only a small amount of Rs. 30,000/-is left, considering the smallness of amount that the assessee was having regular withdrawal in his bank account and Rs. 30,000/- is not a big amount which can be doubted on the basis of facts and circumstances of the case and financial transactions of the assessee. Therefore no justification in treating Rs. 6.00 lacs as unexplained cash credit. In the result, the grounds taken by the assessee are allowed.
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