9911796707
TMI Blog2023 (3) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... , Addl. CIT, Sr. D.R. ORDER PER GIRISH AGRAWAL, ACCOUNTANT MEMBER:- The present appeal by the assessee is against the order of ld. Commissioner of Income Tax(Appeals), National Faceless Appeal Centre (NFAC), Delhi in order No. ITBA/NFAC/S/250/2021-22/1034495840(1) dated 29th July, 2021 against assessment order passed under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y and admit the appeal for adjudication. 3. The sole issue in the present appeal relates to confirmation of addition of Rs.5,50,000/- on account of deposit of cash in the two Bank Accounts of the assessee during the year under consideration. 4. Brief facts of the case are that assessee filed her return of income on 31.10.2017 reporting total income of Rs.5,96,530/-. The case was selected for lim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.11.2016 as noted by the ld. A.O. in the impugned assessment order. Aggrieved, assessee went in appeal before the ld. CIT(Appeals), who confirmed the addition against which the assessee is in appeal before the Tribunal. 5. Before us, Shri R. Chowdhury, FCA, represented the assessee, who placed a paper book on record, containing 58 pages. Ld. Counsel for the assessee pointed out to the copies of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ferred to the Cash Flow Statement prepared for the period 01.04.2013 to 31.03.2017 to demonstrate the availability of cash in hand with the assessee, which was deposited during the demonetization period on 13.11.2016 and 23.11.2016. He also contended that assumption by the ld. Assessing Officer of having a cash in hand of Rs.1,00,000/- as on 08.11.2016 is adhoc and without any basis. 6. Per contr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es below to demonstrate anything otherwise or contrary in respect of the returns filed by the assessee. Considering the facts on record, we do not find any justification in the approach adopted by the ld. Assessing Officer in making an addition of Rs.5,50,000/- by giving an adhoc relief of Rs.1,00,000/- on an estimate basis by assuming that the assessee had cash in hand of Rs.1,00,000/- on 08.11.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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