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TMI Blog2025 (5) TMI 1308X X X X Extracts X X X X X X X X Extracts X X X X ..... he solitary ground raised in the appeal by the assessee is as under: "1. The Ld. CIT -(A), NFAC erred in law and on facts in upholding the action of the AO of treating the cash deposited of Rs. 14,18,000/- in bank accounts as unexplained money u/s. 69A o f the Act." 3. The solitary issue in the present appeal pertains to addition made to the income of the assessee on account of cash found deposited in his bank account, source of which remained unexplained. The orders of the authorities below reveal that the AO had added the cash deposits in the bank account of the assessee as well as the other credits in his bank account amounting to Rs. 23,72,282/- in the absence of any explanation of the source of the same. 4. We have gone through th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... over/ Gross receipt for the year under consideration was Rs. 6,45,016/- Out of total Turnover Rs. 4,95,016/- was received through Cash which is deposited during the year in Bank Accounts. Copy of Profit and loss Accounts for F.Y. 2016-17 is enclosed herewith for your ready reference. Further Sir I am agriculturist and having Gross Agriculture Income worth Rs. 3,31,471/-. This income was received in cash and deposited in my Bank Accounts. Copy of Agriculture bills are enclosed herewith for your review and record. Sir/Madam in addition to this Your good self can verify from enclosed Bankbooks and Bank Statement that there are cash withdrawals which were re deposited which were not considered by AO while finalizing Assessment order. To prove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - is deleted. The ground of appeal is partly allowed." 5. As is evident from the above, the assessee had explained the source of cash deposit in the bank account as from his business of Charcoal trading and agricultural income amounting to Rs. 4,95,016/- & Rs. 3,31,471/- respectively. The assessee had substantiated the same by furnishing copy of the P&L account of his business and agricultural receipts. 6. The Ld. CIT(A), we find, gives no reason absolutely for finding no merit in the assessee's explanation of the source of cash deposit in the bank account. It is a classic case of a nonspeaking order and as we have stated above it has resulted in waste of the right exercised by the assessee before the First Appellate Authority for address ..... X X X X Extracts X X X X X X X X Extracts X X X X
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