TMI Blog2013 (3) TMI 713X X X X Extracts X X X X X X X X Extracts X X X X ..... Gupta ( Vice President) And T. R. Meena ( Accountant Member) For the Appellant : Urvashi Shodhan, A.R. For the Respondent : D. K. Singh, Sr. D.R. ORDER T. R. Meena ( Accountant Member) This is an appeal at the behest of the Assessee which has emanated from the order of CIT(A)-XXI, Ahmedabad, dated 16.08.2012 for assessment year 2009-10. The sole ground of appeal is against upholding the addition of ₹ 10,37,500/- for cash deposits made in the bank account treating as undisclosed. 2. The assessee is a salaried person. He filed return of income on 16.06.2009 for A.Y. 09-10 at ₹ 3,56,272/-. The A.O. observed that on going through AIR details, it was noticed that the assessee had made cash deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S.B.I 30,000 The Kalupur Bank 15/09/08 20,000/- S.B.I --- --- 22/09/08 --- --- 40,000 The Kalupur Bank 08/10/08 30,000/- S.B.I 40,000 The Kalupur Bank 08/10/08 10,000/- S.B.I --- --- 10/10/08 20,000/- S.B.I 40,000 The Kalupur Bank 10/10/08 20,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is unlikely that a substantial quantity of cash was kept at home for about three months and then re-deposited in the bank. (b) The explanation of deposit of cash of ₹ 10,37,500/- offered by the appellant is subjective and the devoid of merits. No detailed cash flow to support cash deposit of ₹ 10,37,500/- is submitted. The claim of the appellant is thus rejected. The ground no.1 raised by the appellant is dismissed. 4. Now the assessee is before us. Ld. Counsel for the appellant argued that the appellant had withdrawn cash from his own bank account for the purpose of purchase of land in his native place and also there was a rumor in the market that financial position of the Kalupur Commercial Co-operative Bank wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... March, 2008, which was redeposited in the same bank account in the month of May 2008 at Rs.Rs.8,50,000/-. These were the cash withdrawal made by the appellant from his own account maintained with the same bank, namely, the Kalupur Commercial Co-operative Bank, which was kept at residence. Similarly withdrawal also made from the S.B.I. account and deposits were made in the Kalupur Commercial Co-operative Bank on different date during the year. The ld. A.O. has not brought on record any evidence that cash withdrawal in the month of January or March, had been used otherwise then other purposes mentioned by the appellant. Therefore, we have considered view that no addition can be made by following explanation of the assessee and two decisions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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