TMI Blog2021 (10) TMI 1139X X X X Extracts X X X X X X X X Extracts X X X X ..... w of the CBDT Circular vide Instruction No. 03/2017 dated 21st February 2017 and relying on the decision of SMT. UMA AGRAWAL BABA KAPUR SUNARAN KA MOHALLA VERSUS I.T.O 1 (3) GWALIOR, M.P. [ 2021 (6) TMI 712 - ITAT AGRA] , the explanation of the assessee about the source of cash deposits cannot be brushed aside without there being any evidence to the contrary.- Decided in favour of assessee. - ITA No. 872/Del/2021 - - - Dated:- 14-10-2021 - SH. ANIL CHATURVEDI , ACCOUNTANT MEMBER For the Appellant : Ankit Arora , C. A. For the Respondents : R. K. Gupta , Sr. D. R. ORDER Per Anil Chaturvedi , AM This appeal filed by the assessee is directed against the order dated 18.03.2021 of the Commissioner of Income Tax (Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Assessing Officer under section 69A of the Act as unexplained money. 2. That the Ld. CIT(A)/NFAC erred in facts and in law in not appreciating the fact that the money belongs to the savings of the appellant as homemaker which she saved over a period of eight years from various households expenses and minor cash gift received from friends and families. 2.1 That the Ld. CIT(A)/NFAC erred in facts and in law by holding that savings of a mere ₹ 2,50,000/- over a period of eight years is unreasonable and extra-ordinary for a woman no belonging to very high income group families of business background. 2.2 That the Ld. CIT(A)/NFAC accepted the contention of the appellant regarding savings made by her as a housewife but erre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 2.50 lakh would be made as the source of such amount could be either house hold savings/savings from past income. He submitted that assessee's husband works in an Multi National Company (MNC) and is a regular tax payer. He also relied on the decision of Agra Bench of Tribunal in the case of Smt. Uma Agrawal vs. ITO (in ITA No. 35/AGR/2021 dated 18.06.2021). He pointed to the relevant order placed in the paper book. He therefore submitted that in view of the aforesaid decision and CBDT Circular, no addition is warranted in the present case. 6. Learned DR on the other hand supported the order of lower authorities. 7. I have heard the rival submissions and perused the materials available on record. The issue in the present ground ..... X X X X Extracts X X X X X X X X Extracts X X X X
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