9911796707
TMI Blog2021 (9) TMI 1082X X X X Extracts X X X X X X X X Extracts X X X X ..... t that the assessee's grandmother is suffering from cancer. Evidence for the cancer treatment for assessee's grandmother is placed on record - in all probabilities, some amount of cash would have been kept by the assessee to meet the medical emergencies. In facts of the case, the credit of ₹ 1,50,000 given by the CIT(A) is insufficient. I direct the Assessing Officer to grant a further credit for a sum of ₹ 3.5 lakh being cash deposit out of past withdrawals. In other words, the A.O. is directed to tax u/s. 69A r.w.s. 115BBE of the I.T. Act, a sum of ₹ 4 lakh. Therefore, the sum of ₹ 5 lakh is treated as explained being cash deposit out of withdrawals made in the past. Appeal filed by the assessee is partly a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer had made an addition of ₹ 9 lakh). 4. The brief facts of the case are as follows:- The assessee had deposited an amount of ₹ 9 lakh on 13.11.2016 during the demonetisation period in his bank account maintained in Union Bank of India (UBI). The assessee was asked to explain the source of above mentioned cash deposit. The assessee submitted that he is a salaried employee in a private sector with no other sources of income, as such there is no question of earning of any undisclosed income. Further, it was stated that the assessee has made withdrawals of ₹ 18,21,700 from 01.04.2013 to 06.11.2013 and the deposit of ₹ 9 lakh made out of savings/balance available out of the withdrawals. It has further state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue that no notice u/s. 143(2) was issued by the correct Assessing Officer is rejected. 8.1. As regards the issue on merits, it is not disputed that the only source of income for assessee is salary income. It is also a fact that there was no unexplained asset or investment unearthed by the department. The assessee had filed cash flow statement and also cash book for the period 01.04.2013 to 13.11.2016 before the A.O. It is an admitted fact that the assessee's grandmother is suffering from cancer. Evidence for the cancer treatment for assessee's grandmother is placed on record. I am of the view that in all probabilities, some amount of cash would have been kept by the assessee to meet the medical emergencies. In facts of the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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