9911796707
TMI Blog2023 (1) TMI 164X X X X Extracts X X X X X X X X Extracts X X X X ..... or the assessment year 2017-18 u/s.143(3) of the Income Tax Act, 1961, (hereinafter 'the Act') vide order dated 25.12.2019. 2. The only issue in this appeal is as regard to the order of CIT(A) confirming the action of AO in making addition of Rs.8 lakhs as unexplained money u/s.69A of the Act. 3. At the outset the ld.counsel for the assessee filed application under Rule 29 of the Income Tax Appellate Tribunal Rules, 1963 filling confirmation in the shape of affidavit of assessee's wife requesting of admissibility of assessee's father affidavit confirming the amount of Rs.8 lakhs withdrawn from Indian Bank A/c No.560028303 on 01.11.2016 was handed over to his son, the present assessee Shri M. Vijayakumar. The ld.counsel for the assessee st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on maturity of FD's in Indian Bank on 01.11.2016 was handed over to his son i.e., the assessee, which was deposited by assessee in his ICICI bank account on 10.11.206. In view of these facts, we admit this additional evidence and will adjudicate the issue. 5. We have heard rival contentions and gone through facts and circumstances of the case. We noted that the assessee made cash deposit to the tune of Rs.26 lakhs in his bank account No. 000901589886 maintained with ICICI bank. There is no dispute about the source explained by the assessee to the extent of Rs.18 lakhs received from his wife Smt. Yasodha. The dispute remains only to the extent of Rs.8 lakhs received from his father. The CIT(A) also confirmed the action of the AO by observi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee's father. 4.1 We noted that the CIT(A) has not doubted the source of maturity of assessee's father FDs of Rs.8 lakhs which was withdrawn on 01.11.2016. Admittedly, the assessee made deposit on 10.11.2016 in cash, this amount of Rs.8 lakhs. The only dispute is confirmation, which now the assessee confirmed by filing affidavit of assessee's father, which reads as under:- "My name is Murugesan. I have been residing at Ezhumathur Village. During the Financial year 2016-17, from my Indian Bank Account (Account No.560028303), I withdrew Rs.8,00,000/- (Rs.4,00,000/- + Rs.4,00,000/-) on 01.11.2016. This money is received from two of my matured Fixed Deposits. I handed over the above mentioned sum to my son for his needs." 4.2 From ..... X X X X Extracts X X X X X X X X Extracts X X X X
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