9911796707
TMI Blog2024 (11) TMI 150X X X X Extracts X X X X X X X X Extracts X X X X ..... was small and consequently, the domestic expenses could be lower. Since the assessee is carrying on a business on small scale for the past several years, it cannot be denied that she could have saved money over the years. The assessee could not prove this claim with evidences, since she was not required to maintain books of accounts under the law. It is also possible that the said savings could be from her own business and other own sources and it may include money received from her husband also over the years. Accordingly, considering her age and the business activities carried on by her, we are of the view the claim of past savings of Rs. 7,20,000/- could be accepted. Assessee has voluntarily disclosed a sum under PMGKY scheme, which fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed by Ld CIT(A) and direct the AO to delete the addition of Rs. 7,80,000/- also. Assessee appeal allowed. - SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI RAJ KUMAR CHAUHAN, JUDICIAL MEMBER For the Assessee: Shri Bhupendra Shah For the Revenue: Shri Asif Karmali, Sr. DR ORDER PER B.R. BASKARAN, A.M : The assessee has filed this appeal challenging the order dated 06-06-2024 passed by Ld.CIT(A), NFAC, Delhi and it relates to the Assessment Year (AY.) 2017-18. The assessee is aggrieved by the decision of Ld.CIT(A) in confirming the addition of Rs. 15.00 lakhs relating to unexplained bank deposits. 2. The facts relating to the case are discussed in brief. The assessee is an Individual and is an aged lady. She is engaged in the business of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ired to maintain books of accounts as per the law. From out of her income and also out of money given by her husband, she had accumulated savings of Rs. 7,20,000/- over the years. He submitted that the assessee belonged old generation and hence preferred to keep cash with her instead of depositing the same into the bank account. However, she was constrained to deposit the cash in bank, in view of demonetization of the currency announced by Government of India. He submitted that her family was a joint family consisting of her husband and her husband s brother s wife only. They were also frugal in spending money in view of religious and pious activities carried on by them. Accordingly, he submitted that, considering her age and the fact that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the absence of books of accounts, it would be normally difficult for anyone to explain the sources of cash deposited into his bank account. Under these set of facts, the explanation of the assessee is required to be examined on the basis of surrounding facts and circumstances of the case, instead of applying strict rule of evidence. 7. It is noticed that the family of the assessee was small and consequently, the domestic expenses could be lower. Since the assessee is carrying on a business on small scale for the past several years, it cannot be denied that she could have saved money over the years. The assessee could not prove this claim with evidences, since she was not required to maintain books of accounts under the law. It is also possi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee has voluntarily disclosed her unexplained money of Rs. 5,72,000/- under PMGKY scheme and we have held earlier that the said voluntary action of the assessee should also be considered while examining the veracity of the claim made by the assessee. Accordingly, we are of the view that the claim of inheritance of Rs. 7,80,000/- from her husband s brother s wife, in the facts and circumstances of the case, could not be brushed aside. Accordingly, we hold that the said explanation may be accepted. Accordingly, we set aside the order passed by Ld CIT(A) and direct the AO to delete the addition of Rs. 7,80,000/- also. 9. In the result, the appeal of the assessee is allowed. Order pronounced in the open court on 30-09-2024 - - TaxTMI - TMITa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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