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TMI Blog2018 (6) TMI 1816X X X X Extracts X X X X X X X X Extracts X X X X ..... s deleted. Cash deposit in bank account - addition was made by the AO on this basis that this amount was received from the father-in-law and the assessee has not produced any evidence and therefore, the addition was made by the Assessing Officer - HELD THAT:- This is not the case of AO or CIT (Appeals) that this cash received from Ms. Swati is used by the assessee for some other investment or for some other cash deposit in bank account. In the absence of any such allegation, the source of Rs.2 lakhs stands explained and hence,delete this addition. This decision is further supported by these facts that as per the entry in the bank statement there is a deposit of cheque of Rs.2 lakhs on 15.2.2011 and there is reversal of such entry on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there was credit entry in the bank statement by clearing. He drawn my attention to page No.13 of the Paper Book and pointed out that the bank statement is available for the relevant period and submitted that on 13.1.2011, there was a cash deposit of Rs.10.01 lakhs. It is seen that the withdrawal of Rs.25.05 lakhs from the City Bank Account No.3246101001269 is by way of cash withdrawal on the same date, there is a deposit of Rs.10.01 lakhs in the bank account No.3246101001447 and therefore, the source of the cash deposit of Rs.10.01 lakhs stands explained out of cash withdrawal from the bank. 5. The learned Departmental Representative supported the orders of authorities below. 6. I have considered the rival submissions. I find that thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was examined by the Assessing Officer and it was stated by her that she had refunded back to the assessee the amount of Rs.6.50 lakhs in cash in two installments of Rs.50,000 and Rs.6 lakhs. It was submitted that since it is accepted by the Assessing Officer that Rs.6 lakhs in cash is received from Ms. Swati then source of cash deposit stands explained and no addition is called for. The learned Departmental Representative has submitted that it was noted at page No.3 of the assessment order that there is a cash deposit in bank account on 17.2.2011 and it was stated by the assessee that this amount was received from her father in law and addition was made by the Assessing Officer on this basis that this amount was received from the father-in- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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