9911796707
TMI Blog2022 (3) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... hat if a house wife deposited up to ₹ 2.50 lacs in her bank account (and in case of senior citizens aged above 70 years the upper limit of ₹ 5 lacs) during demonetization period then the same should not be scrutinized and has to be accepted. - Decided in favour of assessee. - I.T.A. No. 505/Kol/2021 - - - Dated:- 18-2-2022 - Shri A. T. Varkey, JM For the Appellant : Shri K.M. Roy , CA For the Respondent : Smt. Archana Gupta, Sr. D.R. ORDER This is an appeal preferred by the assessee against the order of Ld. CIT(A)-National Faceless Appeal Centre (NFAC),Delhi dated 24.09.2021 for AY 2017-18. 2. The assessee s main grievance is against the action of the Ld. CIT(A) in confirming the addition made by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was kept by her for her personal as well as for the welfare her children and grand children According to the assessee, since demonetization was ordered on 8.11.2016 (up to 30.12.2016) his mother Mrs. Ajoya Saha being first account holder, had deposited ₹ 2.40 lacs in her account. According to the assessee (son of Mrs. Ajoya Saha), he was only a joint second account holder and has helped her mother in depositing/withdrawal of the money as per the direction of his mother. Further it was brought to the notice of the AO that the Hon ble Prime Minister/Finance Minister in the Parliament has given assurance that during the demonetization period, that if a housewife deposits up to an amount of ₹ 2.50 Lacs, then the same should n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her and should not have been brought to tax as per the CBDT Circular. However, the AO did not agree, he made an addition of ₹ 2.40 Lacs. 4. Aggrieved the assessee preferred an appeal before the Ld. CIT(A) who was pleased to dismiss the appeal of the assessee and thus confirming the addition by the AO. 5. Aggrieved by the aforesaid action of the Ld. CIT(A) the assessee is before us. 6. The Ld. D.R. Smt. Archana Gupta, Sr. D.R. while opposing the plea of the assessee drew our attention to para 4.2 of the Ld. CIT(A) s order and submitted that the assessee failed to bring evidences/material to support his contention that the assessee s mother was the first-holder of the bank account where deposit of ₹ 2.4 Lakhs was found an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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