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TMI Blog2024 (8) TMI 1015X X X X Extracts X X X X X X X X Extracts X X X X ..... that the source for the deposit of cash was gifts received during the Marriage function from the relatives, friends and well wishers. Since, the amount of deposit made to bank account and the gift received by the assessee on occasion of the marriage is a reasonable and by following the decision of the tribunal relied by the assessee we are inclined to delete the addition of Rs. 5,45,000/- made by the AO u/s. 69 of the Act as unexplained by allowing the ground the appeal of the assessee. - Shri Mahavir Singh, Hon ble Vice President And Shri S. R. Raghunatha, Hon ble Accountant Member For the Appellant : Shri. Mansoor Ilahi, Advocate For the Respondent : Smt. M.S. Deeptha, JCIT ORDER PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: This appeal fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eferred an appeal before the Ld.CIT(A), NFAC. The Ld.CIT(A) has confirmed the disallowance made by the AO as per the Assessment order. Aggrieved by the order of the Ld.CIT(A), the assessee in appeal before us. 5. The ld.AR for the assessee stated that the said the assessee got married on 15/05/2015 and the cash deposited during the demonetisation period are from the cash gifts received during the marriage ceremony and post marriage ceremony. The assessee also had furnished the marriage certificate before the lower authorities. The Ld.AR prayed for deleting the addition of Rs. 5,45,000/- made u/s. 69 of the Act as unexplained investment by allowing the appeal of the assessee. 6. Further, the Ld.AR relied on the decision of the Tribunal in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by CIT(A) of Rs. 30,00,000/- plus deletion now by the Tribunal of Rs. 20,00,000/-, aggregate comes to Rs. 50,00,000/-. Hence, we sustain the balance of Rs. 50,00,000/- as unexplained money u/s. 69A of the Act. In term of the above, the first two grounds raised by the assessee are partly allowed as indicated above. 7. Per contra, the ld.DR relied on the orders of the lower authorities. 8. We have heard the rival contentions and gone through the orders of the lower authorities. The assessee has deposited Rs. 5,45,000/- to her bank account during the demonetisation period. Further, she got married on 15/05/2015 and stated that the source for the deposit of cash was gifts received during the Marriage function from the relatives, friends and we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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