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TMI Blog2022 (9) TMI 284X X X X Extracts X X X X X X X X Extracts X X X X ..... tained the explanation of assessee cannot be rejected and hence the addition confirmed by the ld. CIT(A) is not correct. AO has made the addition merely on surmises and conjectures without assigning any cogent reason to justify the addition. Since source of the alleged amount is from part savings and opening cash in hand, in our view addition was not warranted. Thus finding of ld. CIT(A) is reversed and the addition in question is deleted and appeal of the assessee is allowed. - ITA No. 289/Kol/2021 - - - Dated:- 26-7-2022 - SHRI MANISH BORAD, HON BLE ACCOUNTANT MEMBER AND SHRI SONJOY SARMA, HON BLE JUDICIAL MEMBER Appellant by : Shri Anil Kochar, Advocate Respondent by : Shri Biswanath Das, ACIT ORDER PER SONJO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... end, alter, modify, substitute, add to abridge and/or rescind any or all of the above grounds. 2. The facts in brief are brought out by Assessing Officer in his order vide para no. 1 2 are extracted below for ready reference: i. The return of income for the A.Y. 2017-18 was originally filed electronically on 24.04.2017 showing total income of Rs. 8,15,270/-. Subsequently, the case was selected for Limited scrutiny assessment under CASS with the reason specified as the cash deposits during demonetization period. ii. Upon selection of scrutiny, notice under section 143(2) of the Income-tax Act (hereinafter referred to as the Act ) was issued on 09.08.2018 that was duly served on the assessee. Thereafter, notice under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... He argued that the addition made on presumption and assumption and such inference cannot be sustained. 6. Ld. DR submitted that the ld. CIT(A) at page 12 vide para 9 recorded that there is a particular pattern of cash withdrawal of Rs. 95,000/- upto 08.11.2016 even after assessee claimed that she had Rs. 2,00,000/- cash in hand till 31.03.2016 and as such ld. DR relied upon the orders of AO as well as ld. CIT(A). 7. While deciding this appeal, the assessee raised 7 grounds of appeal and ground no. 2 is goes roots of the matter therefore we are going to decide this issue and remaining grounds are general or consequential in nature therefore these are need not required to be adjudicate upon. 8. We after hearing rival contention of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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