TMI Blog2021 (10) TMI 1193X X X X Extracts X X X X X X X X Extracts X X X X ..... source of the deposits in the bank account which has been found adversely by the Department. Therefore, we direct the AO to delete the addition - Decided in favour of assessee. - I.T.A. No. 86/Kol/2020 - - - Dated:- 13-10-2021 - P.M. Jagtap, Vice President And A.T. Varkey, Member (J) For the Appellant : P.K. Himmatsingha, AR For the Respondents : Ranu Biswas, Addl. CIT ORDER Per Shri A.T. Varkey, JM This is an appeal preferred by the assessee against the order of the Ld. CIT-19, Kolkata dated 21.11.2019 for A.Y 2013-14. 2. At the outset, the Ld. AR of the assessee, Shri P.K. Himmatsingha, drew our attention to the fact that though the assessee had raised twenty grounds of appeal in the original Form no. 36, the assessee has filed concise grounds of appeal vide letter dated 06.09.2021 where the assessee has raised four grounds of appeal which reads as under: 1) That under the facts circumstances of the case, Ld. CIT(A) erred in confirming the addition of ₹ 79,00,101 made by AO without considering the cash withdrawal made earlier from bank account, which were re-deposited into the bank account, the addition so made is bad in law. 2) That ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se was selected for scrutiny under CASS and reason for selection was mentioned as large cash deposits in savings bank account . The AO noted that on examination of bank account no. 911010039299503 with Axis Bank at Salt Lake reveals that cash aggregating to the tune of ₹ 89,00,101/- was deposited by the assessee during the year under consideration. According to the A.O, the first of such deposit of ₹ 5,00,101/- was made on 04.05.2012 and the last being ₹ 2,00,000/- made on 17.11.2012. Details of cash deposits in the account were given at Page 2 which is as under: Date Amount 04/05/2012 5,00,101/- 14/05/2012 9,00,000/- 15/05/2012 9,00,000/- 16/05/2015 9,00,000/- 17/05/2012 9,00,000/- 12/07/2012 9,00,000/- 13/07/2012 8,00,000/- 14/07/2012 3,00,000/- 25/08/2012 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich clearly shows that the assessee had disclosed sums/money in his bank account which is the opening balance from the earlier year and which has been withdrawn and re-deposited back into his accounts, the AO has erroneously made the addition. Thus according to the assessee, the assessee was able to reconcile amounts withdrawn and re-deposited before the AO. However the AO has not accepted the assessee's cash flow statement which linked with the withdrawal and deposits and only accepted ₹ 10 lakhs as genuine and made an addition of ₹ 79,00,101/-. 6. Aggrieved by the aforesaid action of the AO, the assessee preferred an appeal before the Ld. CIT(A) who has confirmed the action of the AO by holding that the assessee had failed to submit any documentary evidence to support the contention of the assessee i.e. withdrawn the money for the purpose of giving advance to the landlords and since the land deal could not materialize, the amount had been re-deposited back into his bank accounts. Therefore, he confirmed the addition. Aggrieved by the aforesaid action of the Ld. CIT(A), the assessee is before us. 7. We have heard both the parties and perused the records. We ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 43.00 4.4.12 To, Axis 900000.00 4.5.12 -DO- 500101.00 10.4.12 -DO- 900000.00 14.5.12 -DO- 900000.00 11.4.12 -DO- 900000.00 15.5.12 Drawings 900000.00 15.4.12 To Suseela Gidla 200000.00 -DO- 900000.00 15.4.12 To Axis Bank 100.00 Drawings 900000.00 17.4.12 -DO- 800000.00 16.5.12 -DO- 900000.00 20.4.12 -DO- 900000.00 17.5.12 -DO- 900000.00 27.4.12 -DO- 400101.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1000000.00 24.12.12 -DO- 2000000.00 25.2.13 -DO- 1000000.00 1.3.13 -DO- 2000000.00 6.3.13 -DO- 975000.00 To, Rent received 20174.00 3.3.13 By, Ba. B/D 10216885.15 22037029.15 22037029.15 8. The Ld. AR has drawn our attention to the each of the withdrawal from three bank accounts, statements of which is placed from page no. 2 to 10. We note that the assessee had the following disclosed bank accounts: a) Axis Bank, Barrackpore Br, S/B-910010036526250 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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