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2024 (5) TMI 27 - ITAT DELHIAddition u/s 69A - cash deposited from alleged unexplained sources - Whether cash deposited is duly explained from the cash withdrawals made by assessee and her husband? - assessee did not explain the reasons for withdrawal of cash from his bank account, cannot be the basis to hold that the source of deposit of cash was not explained by the assessee - HELD THAT:- Appellant has shown cash deposited was out of cash in hand available which was withdrawn by the assessee and her late husband during the year 2019-20 to 2021-22 - reference is made to date wise withdrawal of money by the assessee and her husband. The date wise cash withdrawals from the bank by assessee and her husband was held to be not justifiable by holding that cash withdrawals must have been used for incurring personal expenses. The deposit of cash on multiple occasions and no evidence was furnished that the same cash was deposited in assessment year 2021-22. The assessee had not given any plausible explanation in respect of transactions. As evident that cash withdrawals by the assessee and her husband from assessment years 2018-19 to 2021-22 are not disputed by the AO and CIT(A). Once the cash withdrawals are in excess of the cash deposits, then it is amply clear that the cash deposits in the bank account were out of the available sources of the assessee. The burden lies on the revenue to bring material on record to suggest that the money withdrawn by the assessee was utilized elsewhere for personal purposes or the money so withdrawn was not available with the assessee as per the mandate of CIT vs. Kulwant Rai [2007 (2) TMI 185 - DELHI HIGH COURT] well settled principle of law the passing of impugned orders is not just fair and reasonable and deserved to be set aside. Appeal of assessee allowed.
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