9911796707
TMI Blog2023 (2) TMI 1164X X X X Extracts X X X X X X X X Extracts X X X X ..... Judicial Member For the Appellant : Shri Akshat Sharma, Adv. For the Respondent : Shri Sanjay Nargas, Sr.DR ORDER PER KUL BHARAT, JM : The present appeal filed by the assessee for the assessment year 2017-18 is directed against the order of Ld. CIT(A), National Faceless Appeal Centre ( NFAC ), Delhi dated 30.05.2022. 2. The assessee has raised following grounds of appeal:- 1. The Learned Commissioner of Income Tax (Appeals) has erred in law and on facts in dismissing the ground of appeal No 1 where in the appellant contested against the assessment order under section 144 of the Act, which has been passed by the AO without satisfying the condition of providing reasonable opportunity to the assessee in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. Thereby, the AO made addition of Rs.5,64,500/- and Rs.2,00,595/- respectively, on account of salary and unexplained cash deposits. 5. Aggrieved against the order of AO, the assessee preferred appeal before Ld.CIT(A), who after considering the submissions, dismissed the appeal of the assessee. 6. Aggrieved against the order of Ld.CIT(A), the assessee preferred appeal before the Tribunal. 7. At the time of hearing, Ld. Authorized Representative ( AR ) of the assessee has given a cash flow statement. For the sake of clarity, the same is hereby reproduced as under:- Date Particulars Outgoing Income Cash Cash in hands ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 Sale of Paddy in cash Form J 144226 1330891 05.11.2016 Sale of Paddy in cash form J 87329 1418220 15.11.2016 Deposits in KCC A/Cs. 800000 618220 24.11.2016 Deposits in KCC A/C. 450000 168220 01.12.2016 Agriculture expenses 125000 43220 07.02.2017 Withdrawn from KCC 100000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve heard Ld. Authorized Representatives of the parties and perused the material available on record. The assessee has placed cash flow statement to buttress the contention that the assessee was having sufficient reason for earning and making deposits in cash. 10.1. A bare perusal of cash flow statement so submitted goes to prove that the assessee was having sufficient funds to make deposits. Therefore, considering the same, authorities below are not justified in making and sustaining the impugned addition. Hence, AO is hereby directed to delete the addition. The grounds raised by the assessee in this appeal are allowed. 11. In the result, the appeal of the assessee is allowed. Order pronounced in the open Court on 23rd February, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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