9911796707
TMI Blog2023 (3) TMI 615X X X X Extracts X X X X X X X X Extracts X X X X ..... er was not in order and since it was expressed that assessee was not in a position to appoint any counsel, the bench in order to assist her in representing the case requested Shri Bhupendra Shah, CA to represent the case on pro bono basis and the bench is appreciated the service of Shri Bhupendra Shah to represent her case and at the time of hearing he has brought to our notice facts and relevant information. 3. Coming to the facts of the case, the return of income filed by the assessee on 22.07.2017 declaring the income of Rs..1,20,000/-. The return was processed and selected for limited scrutiny under CASS for examination of cash deposited during demonetization period. Accordingly, notice u/s. 143(2) and 142(1) were issued electronically ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the above submissions, Assessing Officer observed that the assessee has made cash withdrawal from the bank towards marriage of her daughter but due to demonetization the assessee had to deposit back cash of Rs..2,50,000/- at State Bank of India, Kalyan branch on 19.11.2016 and Rs..2,50,000/- in Bank of India, Etah (UP) on 16.11.2016. Thereafter, the marriage of the daughter of the assessee was solemnized on 01.12.2016 at Tehsil-Agra, district, Agra, Uttar Pradesh. Assessing Officer observed from the bank statements the assessee had initially withdrawn cash of Rs..11,95,000/- from State Bank of India, Kalyan on 01.11.2016 and subsequently deposited back Rs..5,00,000/- before marriage. Thus, it is clear that the assessee has fully utilized th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly. As discussed in para ii above the cash in hand with the appellant after deposits on 16.11.2016 and 19.11.2016 was Rs 2,84,000/-. If benefit of doubt is given to the appellant that she did not spend any thing further out of this amount on her daughters marriage on 1.12.2016 then out of the total deposits of Rs 5,34,000 on 5.12.2016 and 23.11.2016 only Rs 2.50.000/- remains unaccounted. Accordingly, addition of Rs 2.50.000/- is confirmed. These grounds of appeal are partly allowed." 6. Aggrieved assessee preferred appeal before us raising following grounds in its appeal: -. "1. On the facts and circumstance of the case, the order passed by the Ld. Commissioner of Income Tax (Appeals) (CIT(A)) NFAC dt.23.09.2022 is bad both in the eye o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ef Rs. 2,84,000.00 while all the SBN old currency note deposit out of genuine and valid sources being withdrawal from Bank Account on 01.11.2016 and fully explained hence balance addition of Rs. 2,50,000.00 deserved to be deleted. 5. That the learned ITO / AO erred in law by levying Income Tax @ 60% with Sur Charge of 25% on the Addition of RS. 5,34,000.00 which is now restrict to Rs. 2,50,000.00 by CIT(A) as per section 115BBE as against the applicable rate of 30% as amendment to section 115BBE cannot be made applicable retrospectively. 6. The Applicant craves leave to add, amend, or alter any of the grounds of appeal." 7. At the time of hearing, Ld. AR brought to our notice the relevant facts on record and submitted that the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s per person. In the given case assessee has alleged to have deposited of Rs..2.5 Lakhs which is less than the limit of Rs..5.0 Lakhs per person. Therefore, he prayed that the addition proposed by the Assessing Officer may be disallowed. 9. On the other hand, Ld.DR relied on the orders of the Ld.CIT(A) and submitted that the various inconsistencies in the submissions made by the assessee, therefore he relied on the orders of the lower authorities. 10. Considered the rival submissions and material placed on record, we observe that after considering the various submissions made by the assessee the Assessing Officer has made the addition of Rs..5,34,000/- as unexplained money u/s. 69A of the Act. However, the same is reduced by the Ld.CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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