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2024 (3) TMI 205 - ITAT VISAKHAPATNAMUnexplained cash u/s. 69A - Difference in turnover - CIT(A) deleted addition admitting additional evidences - explanation of the assessee is that this amount is being deposited by the sister concern of the assessee for the purpose of taking a Demand Draft favouring Andhra Pradesh Beverages Corporation for procuring of stock by them - CIT(A) deleted addition as observed that once the cash deposit is treated as turnover, the same shall not be treated as unexplained money HELD THAT:- As the sister concern by way of an affidavit has confirmed the cash deposits in the assessee’s bank account stating their inability to obtain Demand Draft from their bank account. The details with the dates of cash deposits are also made in the affidavit and it corresponds to the bank statements provided by the assessee. In the light of the peculiar circumstances as stated above, on merits, we are of the considered view that these cash deposits do not belong to the assessee but for only to accommodate the sister concern to obtain the Demand Draft favouring Andhra Pradesh Beverages Corporation for procuring stock for their entity and therefore it cannot be treated as income in the hands of the assessee. Admission of additional evidence by the CIT(A) under Rule 46A(2) and 46A(3) of the Income Tax Rules, 1962 - Act confers powers U/s. 250(4) of the Act to the Ld. CIT(A) to dispose of the appeal by making further enquiry as he thinks fit and if the Ld. CIT (A) thinks fit, he may direct the Ld. AO to make further enquiry and report the same to the Ld. CIT(A). In the instant case, the Ld. CIT(A) has exercised his powers U/s. 250(4) of the Act. In the light of the facts and circumstances of the case as discussed above, we find no infirmity in the order of the Ld.CIT(A) and hence the Grounds raised by the Revenue on the issue are dismissed.
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