TMI Blog2023 (1) TMI 482X X X X Extracts X X X X X X X X Extracts X X X X ..... delete the addition. Grounds raised by the assessee are allowed. - ITA No. 6733/DEL/2019 - - - Dated:- 11-1-2023 - SHRI KUL BHARAT , JUDICIAL MEMBER Assessee represented by : Sh. Sanjay Rawat, Adv. (Proxy counsel) Department represented by : Sh. S.L. Anuragi, Sr. DR ORDER PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals), Faridabad, dated 31.05.2019, pertaining to the assessment year 2010-11. The assessee has raised following grounds of appeal: 1. That on the facts and in the circumstances of the case and in law, Ld CIT-A erred in partly sustaining the order passed by Ld AO u/s 143(3) /147 without appreciating that the Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ferred to as the Act ). Notice u/s 148 of the Act dated 31.03.2017 was issued and served upon the assessee through speed post. In response to notice the assessee himself attended the proceedings and requested for adjournment. Thereafter, the case was adjourned from time to time. The reasons were supplied to the learned Authorized Representative of the assessee Shri D.D. Chawla, Advocate who filed his reply which is reproduced by the Assessing officer. Before the Assessing Officer the source of cash deposit, the bank account was stated out of past savings, sale consideration of jewellery of asessee s wife and cash withdrawals from the bank account. However, the Assessing Officer did not accept the contention and made addition of Rs. 12,55,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ank account for Rs.2,47,500/-. Keeping in view the facts of the case, further credit of Rs.50,000/- is allowed towards the source of cash deposits in the bank account out of such withdrawals. Further it is noted that the appellant has explained the cash gift of Rs. 1,50.000/- and Rs.1,00,000/- from Sh. Brij Pal Singh and Sh. Satbir Singh by furnishing satisfactorily documentary evidence. The same is hereby accepted as source of cash deposits to the extent of Rs.2,50,000/-. However, ongoing through the capital account of Sh. Ganesh Kumar, it is noted that no such cash gift of Rs.50,000/- has been reflected. Therefore, the submission of the appellant has not been found as substantiated. Similarly no satisfactory evidence in respect of cash gi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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