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TMI Blog2025 (1) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... ng as the same income cannot be taxed twice. On the one hand the AO accepted the income declared by the assessee in the return of income, which included the amount of ₹42 lacs deposited as cash into the bank account of the assessee and secondly, the addition was made by way of unexplained money u/s 69A - The said addition is wrong and against the provisions of the Act. See Shri Dinesh Kumar singal [ 2023 (6) TMI 606 - ITAT CHANDIGARH] Aakriti Jain [ 2024 (11) TMI 1187 - ITAT CHANDIGARH] Appeal of the assessee is allowed. - Shri Rajesh Kumar, AM And Shri Pradip Kumar Choubey, JM For the Assessee : Shri S.M. Surana, AR For the Revenue : Shri Sal long Yaden, DR ORDER PER RAJESH KUMAR, AM: This is an appeal preferred by the assessee aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eated as unexplained money and added to the income of the assessee and finally, the said cash was added to the income of the Assessee in the assessment framed by the AO. 05. In the appellate proceedings, the ld. CIT(A) dismissed the appeal of the assessee by observing and holding as under:- 4. The findings of the AO are reproduced as under:- In the instant case at hand, the assessee being an individual, maintaining of books of accounts is not mandatory and the assessee has never given a satisfactory explanation about the nature and source of acquisition of the money that has been deposited in her bank account. Hence, the reply to the show cause is not accepted Further, the assessee has not made any voluntary disclosure of the accumulated mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer again added Rs. 42 lacs towards the said cash deposited u/s 69A of the Act which resulted in double taxation of the same income which is not permissible under the Act and therefore, the same has to be deleted. The ld. AR in defense of his argument relied on the decisions of the co-ordinate bench in case of Shri Dinesh Kumar Singal Vs. ITO vide order dated 22.05.2023 in ITA No. 683/Chd/2022, in case of ITO Vs. Aakriti Jain ITA No. 481/Chd/2023 vide order dated 14.06.2024 for A.Y. 2018-19, wherein it has been held that where the income has been offered in respect of cash deposited in the bank then the same cannot be added second time as it amounts to double taxation which is not permissible under the Act. 07. Another contention of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lting into double addition of the same amount of income and also levied taxes at the rate as provided u/s 115BBE of the Act. In our opinion, the order passed by the ld. Assessing Officer and confirmed by the CIT(A) is totally wrong as the same income cannot be taxed twice. On the one hand the ld. Assessing Officer accepted the income declared by the assessee in the return of income, which included the amount of ₹42 lacs deposited as cash into the bank account of the assessee and secondly, the addition was made by way of unexplained money u/s 69A of the Act. In our opinion, the said addition is wrong and against the provisions of the Act. The case of the assessee find support of the co-ordinate bench in case of Shri Dinesh Kumar singal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er has accepted the cash sales and the Assessing Officer has also accepted the VAT collected and deposited in the Government account. Even the Assessing Officer has accepted the VAT returns filed by the Assessee and accepted by the 481-Chd-2023- Aakriti Jain, Ludhiana Indirect Taxes Department. Therefore, it clearly shows that the Assessing Officer has not doubted the availability of cash in the hands of the Assessee. Once availability of cash in the hands of the Assessee is accepted, then deposit of such cash in bank account cannot be rejected. 10. Lastly, we find that accepting the cash sale by the Assessee offered to tax, and then addition of same cash deposited in the bank, will amount of double taxation and the same is clearly unsustai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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