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TMI Blog2022 (11) TMI 779X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) estimated the same at Rs.1 lakh. Further, when cash withdrawals have been duly reflected in the cash book, vis a vis, bank statement for the FY under consideration, why the same was not accepted by the CIT(A) when no defect has been pointed out in cash books, cash flow statement and statement of affairs filed by the assessee? In our considered opinion, once cash flow statement is not controverted by the Assessing Officer as well as the ld. CIT[A], when it was specifically submitted that the same is based on the entries made in the cashbook, then the source of cash deposit in the bank account cannot be discarded by the authorities below. See case of Omni [ 2016 (8) TMI 962 - DELHI HIGH COURT ] We do not find any merit in the add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in hand of Rs. 8,34,821/ , the assessee could not explain satisfactorily the source of cash deposit of Rs.11,90,179/ . 6. The Assessing Officer completed assessment proceedings by accepting the opening cash in hand of Rs. 8,34,821/ and made addition of Rs.11,90, 79/ under section 69A r.w.s 115BBE of the Act. 7. The assessee carried the matter before the ld. CIT(A) and once again furnished all the details explaining the source of cash deposit in the bank account. 8. It was once again explained that other than the opening cash in hand of Rs. 8,34,821/ , all other deposits have been made out of cash withdrawals from the bank during the financial year. In support, cash flow statement along with statement of affairs was also filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entary evidences brought on record in light of Rule 18(6) of ITAT Rules. 15. Cashbook clearly shows the opening balance as on 01.04.2016 at Rs. 8,34,821/ which has been duly verified and accepted by the Assessing Officer. Cash flow statement exhibited at page 4 of the Paper Book clearly explains the cash deposit in the impugned bank account. Exhibit 13 is the statement of affairs as on 31.03.2017. 16. We fail to understand as to when availability of opening cash in hand amounting to Rs. 8,34,821/- has been verified and accepted by the Assessing Officer, then, why the ld. CIT(A) estimated the same at Rs.1 lakh. Further, when cash withdrawals have been duly reflected in the cash book, vis a vis, bank statement for the FY under consider ..... X X X X Extracts X X X X X X X X Extracts X X X X
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