Appellant's appeal partly allowed: cash deposit deletion directed, FDR interest and widow pension additions upheld.

The tribunal partly allowed the appellant's appeal, directing the Assessing Officer to delete the addition of cash deposit while upholding the additions related to FDR interest and widow pension. The order was pronounced on 17.03.2023.

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Issues Involved:
The issues involved in this case are:
1. Addition of cash deposit of Rs. 10,00,000/- invoking section 115BBE.
2. Addition of FDR interest of Rs. 95,076/- without reducing interest expenditure of Rs. 61,192 on loan against FDR and invoking provisions of section 115BBE.
3. Addition of Rs. 1,00,000/- on widow pension and invoking section 115BBE.

Issue 1: Addition of Cash Deposit:
The appellant, a super senior citizen widow lady suffering from serious illnesses, appealed against the addition of cash deposit of Rs. 10,00,000/- under section 115BBE. The appellant's counsel argued that the cash withdrawn from banks and the cash in hand were used for emergency purposes, especially considering the appellant's health condition. The counsel emphasized that the appellant did not have any other source of income and the cash deposit should not be presumed to be from undisclosed sources. The tribunal noted the appellant's health condition, the cash received from her deceased husband, and the cash withdrawals from banks. It was held that the addition made by the Assessing Officer was unjustified, and the appellant's appeal on this ground was allowed.

Issue 2 & 3: FDR Interest and Widow Pension:
Regarding the FDR interest of Rs. 95,076/- and widow pension of Rs. 1,00,000/-, it was acknowledged that these amounts were received by the appellant during the relevant financial year. However, the interest paid on a loan against the FDR could not be adjusted with the FDR interest received. Therefore, the tribunal dismissed the appellant's appeal on these grounds. The Assessing Officer was directed to recalculate the tax liability accordingly.

Conclusion:
In conclusion, the tribunal partly allowed the appeal of the appellant, directing the Assessing Officer to delete the addition of cash deposit while upholding the additions related to FDR interest and widow pension. The order was pronounced in the open court on 17.03.2023.

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