9911796707
TMI Blog2025 (2) TMI 1084X X X X Extracts X X X X X X X X Extracts X X X X ..... evidence in support of contention were e-filed. The addition be deleted. That under the facts and circumstances the learned assessing officer was not justified in not appreciating the facts and circumstances and documentary evidence submitted during assessment proceedings the addition be deleted or considerably modified taking in to consideration full facts of the case." 3. Facts in Brief:- The assessee is a Hindu undivided Family. This appeal is filed by present Karta Shri Ashish Rameshkumar Agrawal, HUF on behalf of the then Karta of Late Shri Rameshkumar Parasdas, HUF. For the year under consideration, the assessee filed its return of income on 30/08/2017, declaring total income of Rs. 2,67,520. The case is selected under limited scrut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000/- kept as cash in hand, when the appellant was receiving interest which is deposited in bank and unsecured loans are given in the form of cheques. It is also to note that the appellant's income during the year under consideration is 2,67,520/- and the source of income stated to be other sources only as per returns of income filed. It clearly shows that the amount so deposited does not belong to the HUF or it may be undisclosed income of the appellant. In view of the above, the appellant failed to discharge the onus lied upon him in proving cash deposit of Rs. 11,00,000/- made in its bank account. In view of the above, the addition made by the AO is sustained and grounds raised in this regard are dismissed." The assessee being aggri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -12 to 2016-17. As stated by the learned Authorised Representative that the members of the HUF are regularly assessed to tax on their separate individual income since last many years prior to the year 1998-99. The copies of Bank accounts in support of withdrawals, copies of Balance Sheet and Capital Account maintained by the late Rameshkumar then Karta in his own Hand writing were also furnished during the course of assessment proceedings and are placed on record. Keeping in view the overall facts and circumstances as enumerated above, we are of the considered opinion that the learned CIT(A) was not justified in making addition of Rs. 11 lakh under section 69A on account of unexplained money. Consequently, the impugned order passed by the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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