TMI Blog2012 (11) TMI 1216X X X X Extracts X X X X X X X X Extracts X X X X ..... st the order of the Commissioner of Income-tax (Appeals), Panchkula dated 2.4.2012 relating to assessment year 2008-09 against the order passed u/s 143(3) of the Income Tax Act, 1961 (in short the Act ). 2. The only issue arising in the present appeal is against the addition of ₹ 15 lacs on account of cash deposits. 3. The brief facts of the case are that during the year under conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in appearance on behalf of the assessee and put forward their contentions. 5. The learned A.R. for the assessee took us through the facts of the case with reference to the tabulated details of cash as reproduced in the order of CIT (Appeals). Reliance was placed on the ratio laid down by the Hon'ble Punjab Haryana High Court in CIT-II Vs. Parneeta Goyal, 278 of 2010 date of decision 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. The assessee thereafter deposited cash in its bank account as under: 13.9.2007 Rs.5 lacs 14.9.2007 Rs.5 lacs 18.9.2007 Rs.5 lacs 9. The assessee claimed to have withdrawn cash from its bank account for the purpose of utilizing the same in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entries between cash withdrawals and deposit in the bank account being operated by the assessee. Following the above said and in view of the facts of the present case, we find no merit in the aforesaid addition made in the hands of the assessee. Accordingly, we delete the same and allow the ground of appeal raised by the assessee. 11. In the result, the appeal of the assessee is allowed. Or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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