9911796707
TMI Blog2023 (3) TMI 213X X X X Extracts X X X X X X X X Extracts X X X X ..... A) has not mentioned any section under which the addition has been confirmed - As decided in SMT. SUDHA LOYALKA, C/O M/S RRA TAXINDIA [ 2018 (7) TMI 1892 - ITAT DELHI] non-mentioning the precise provision of law makes the impugned addition bad in law. Cash deposit during demonetization - HELD THAT:- Undisputedly there was a opening cash of Rs. 2,74,580/- as on 01.04.2016, the assessee received rent of Rs. 3,20,000/-, tuition fee of Rs. 1,20,100/- and there were bank withdrawals of Rs. 5,54,000/- up to demonetization i.e. 25.11.2016. The said amounts comes to Rs. 12,68,680/- and the amount deposited by the assessee during pre-demonetization and during demonetization period was Rs. 12,10,000/- leaving the cash balance of Rs. 58,680/- as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he learned assessee representative (AR) submitted that the Ld. CIT(A) has reduce the addition made by the AO to Rs. 7 lakh u/s. 115BBE of the Act, on the ground that the cash has been deposited out of unexplained sources. The Ld. AR submitted that the section 115BBE is not a charging section but this section simply provides mechanism for levying of tax in a case there is addition made u/s. 68, 69, 69A, 69B, 69C and 69D of the Act. The Ld. AR submitted that no addition has been made either of these sections therefore the AO was not justified invoking levy of additional tax u/s. 115BBE of the Act. The Ld. AR relied on the judgement of co-ordinate Bench of Delhi in the case Sudha Loylka vs ITO, ITA No. 399/Del/2017 dated 18.07.2018 para 6 (i) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that out of said cash the assessee has deposited Rs. 12,10,000/- during demonetization and pre-demonetization period leaving closing balance as on 25.11.2016 of Rs. 58,680/-. The Ld. AR submitted that the opening cash was Rs. 2,74,580/- as on 01.04.2016 and after including rent and tuition fee receipt up to demonetization period and bank withdrawals up to demonetization period the assessee deposited amount of Rs. 12 lakh to her bank account out of which of Rs. 5 lakh has been allowed by the Ld. CIT(A). In addition to above facts it has also been contended by the Ld. AR that the amount of opening cash, rent, tuition fee receipt up to demonetization period and cash withdrawals up to 25.11.2016 and copy of cash flow statement supports the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/- and there were bank withdrawals of Rs. 5,54,000/- up to demonetization i.e. 25.11.2016. The said amounts comes to Rs. 12,68,680/- and the amount deposited by the assessee during pre-demonetization and during demonetization period was Rs. 12,10,000/- leaving the cash balance of Rs. 58,680/- as on 25.11.2016. These facts have not been controverted by the Ld. Senior Departmental Representative in any manner. Therefore in my consider opinion the addition of Rs. 7 lakh confirm by the Ld. CIT(A) is not sustainable under the said facts and circumstances as the assessee has successfully demonstrated the source of cash deposited by her to her bank account. Therefore the grounds of assessee on merits are allowed and AO is directed to delete the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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