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2020 (2) TMI 660

..... that the amounts had been received on the maturity of the deposits with the Post Office under the Monthly Income Scheme (MIS). The petitioner has even procured a letter dated 18.12.2019 which was issued by the postal department, which clearly states that the said deposits were internal transfers and not deposits made in cash. This communication was also marked to the Income Tax Officer, Ward No. 6 .....

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..... dv. along with Ms. Arpana Majumdar, Adv. Respondents Through: Mr. Sunil Agarwal, Sr. Standing counsel with Mr.Tushar Gupta and Mr. Akash Pratap Singh, Advs. O R D E R CM APPL. 5022/2020 (exemption) 1. Exemption allowed, subject to all just exceptions. 2. The application stands disposed of. W.P.(C) 1451/2020 & CM APPL. 5021/2020 (stay) 3. Issue notice. Learned counsel for the respondents accept .....

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..... sferred in their two bank accounts and were shown as cash entries, though, they were bank transfers. On the basis that the said amounts have been received as cash, which were not explained by the petitioner, the AO proceeded to make additions of ₹ 18,90,000/-. This was despite the fact that the petitioner had explained the position to the AO that the amounts had been received on the maturity .....

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..... and the matter to the AO for passing fresh assessment order after considering the relevant documents including the communication dated 18.12.2019 issued by the Office Of Sr. Superintendent of Post Offices, Delhi East Division, Delhi. 10. Consequently, the impugned demand notices are also set aside. The appeal before the CIT (A) has also become infructuous in view of the above circumstances. 11. Co .....

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