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TMI Blog2020 (7) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... , ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the CIT(A)-12, New Delhi dated 30.09.2019 pertaining to assessment year 2011-12. 2. The sum and substance of the grounds of the assessee is that the ld. CIT(A) erred in confirming the addition made by the Assessing Officer amounting to Rs. 40.10 lakhs. 3. Briefly stated, the facts of the case are that Return of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h was found, the same was immediately deposited and utilised for repayment of bank loan. 5. This explanation of the assessee did not find any favour with the Assessing Officer who treated the cash deposit as undisclosed income of the assessee and made addition of Rs. 40.10 lakhs. 6. The assessee carried the matter before the ld. CIT(A) and reiterated what has been stated before the Assessing Off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A). The ld. counsel for the assessee emphasised that all these evidences were before the lower authorities but none of them were examined for the availability of cash with the assessee. 10. Per contra, the ld. DR strongly supported the findings of the Assessing Officer. It is the say of the ld. DR that the evidences referred to by the ld. counsel for the assessee appear to have not been examin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a-vis the bank statement and if the withdrawals are found to cover the deposits, the Assessing Officer may accept the source of deposit. Needless to mention that reasonable opportunity should be given to the assessee for verification of these documents. 13. In the result, the appeal of the assessee in ITA No. 9061/DEL/2019 is treated as allowed for statistical purposes. The order is pronounced ..... X X X X Extracts X X X X X X X X Extracts X X X X
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