Unexplained cash deposit addition deleted where bank records showed lower actual deposits than the amount assessed.

Unexplained cash deposit additions were challenged on the basis that the assessee's Form 26AS and bank statement reflected actual cash deposits of only Rs. 1,05,000. On examination of the supporting evidence, the amount brought to tax was found to exceed the cash actually deposited in the bank account. The addition was therefore treated as unsustainable and deleted.

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Issues: Whether the addition made on account of unexplained cash deposits in the assessee's bank account was sustainable.

Analysis: The assessee produced Form 26AS and the Bank of Baroda statement to show that the actual cash deposits were only Rs. 1,05,000/-. On consideration of the supporting evidence, the amount added by the Assessing Officer was found to exceed the actual cash deposits made in the bank account.

Conclusion: The addition was held unsustainable and was deleted.

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