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TMI Blog2022 (11) TMI 653X X X X Extracts X X X X X X X X Extracts X X X X ..... that this amount is the accumulation out of past savings and current year s income. Accordingly, we direct the Ld. AO to delete the addition made. The ground of appeal is allowed. - ITA No.346/Kol/2022 - - - Dated:- 18-8-2022 - SHRI RAJPL YADAV, VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Appellant by: Shri K. M. Roy, AR Respondent by: Shri P. P. Barman, Addl. CIT (DR) ORDER PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal by the assessee is directed against the order of ld. CIT(A), National Faceless Appeal Centre, Delhi vide order No. ITBA/NFAC/S/250/2022-23/1042654910(1) dated 08.04.2022 for A.Y. 2017-18 passed against the assessment order u/s 143(3) of the Incometax Act, 1961 (hereinafter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly ground of appeal is regarding the appellant s statement that the amount deposited in the bank account was part of salary income, as that the only source of his income was salary which was received in cash and deposited into the bank. Thus, he has no hidden unexplained source of income. The appellant s response is a mere statement bereft of any supporting documents evidencing its statement despite the same being asked for in the notices. If as the appellant claims salary of Rs.4,00,000/- was received during the year then the amount on a monthly basis is slightly more than Rs.33,000/- approximately every month. As is a known fact, any payment in excess of Rs.20,000/- has to be necessarily made/received in and is generally made by cheque. F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore us, while reiterating the submissions as made before the lower authorities, the Ld. AR submitted that the Ld. AO erred in making addition of Rs.1,55,000/- without any basis. The assessee submitted that the cash deposited in the bank during the period of demonetization was out of her previous savings and savings from salary earned. Per contra, the Ld. Sr. DR submitted that the AO has rightly observed assessee has no other disclosed source of income apart from the income which was declared in her return under the head salary and other source and, therefore, the AO has rightly considered the said amount of Rs.1,55,000/- as undisclosed money and added to the income of the assessee. 7. Admittedly, it is noted that assessee has earned sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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