TaxTMI 
TaxTMI 
2018 (12) TMI 1646
X X X X Extracts X X X X
X X X X Extracts X X X X
....present appeal related to addition made on account of unexplained cash found deposited in the bank account of the assessee amounting to Rs. 20, 79, 000/- under the provisions of section 69 of the Act. 3. Brief facts relating to the issue are that during the assessment proceedings, the A. O. noticed that the assessee had deposited cash to the tune of Rs. 20, 79, 000/- in her bank account in the relevant previous year. When asked by the A. O. to furnish the source of the same, the assessee contended that it was attributable to her opening cash in hand and furnished a copy of cash book for the relevant financial year showing opening balance of Rs. 22, 50, 000/-. The assessee was asked to justify the opening balance to which, it was submitte....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e with assessee so as to justify the cash deposited. For the above reasons, the Ld. CIT(A) dismissed the assessee's appeal. The relevant finding of the CIT(A) at page 13 of the order is as under: "As seen above, the AO has made detailed analysis of the claim of the assessee that the cash deposits were out of opening cash balance. The withdrawal of Rs. 20, 00, 000/- which is the primary source of the claimed cash balance was made on 11. 06. 2012 i. e. almost 8-9 months before the cash was deposited in the bank accounts. It is interesting to note that Chough the assessee is claiming that the said cash remained with it, ever since then, it has also taken substantial loans subsequent to this date. It is also important to note that even....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e case the Learned CIT (A) has erred in law and facts in upholding the addition, without discussing the written submission of the appellant, of Rs. 20, 79, 000/- on account of nonexplanation of sources in respect of cash deposit in bank account. Whereas the appellant has explained that the said amount was withdrawn from the bank account of appellant few months ago and has tried to connect case of husband of appellant of different year/s. Learned A 0 has further mentioned in the assessment order that had there been adequate sources of assesses/ family for the purchase of house there would have been no need for taking loan from friends/relatives by husband of the appellant. It is surprising and shocking that at the time of framing assessment ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ns and have also gone through the orders of the authorities below. We do not find any reason to interfere in the order of the Ld. CIT(A). The Ld. CIT(A) has noted the findings of the A. O. that the cash withdrawal which was attributed to having been retained by the assessee and deposited in the impugned year, was 8-9 months old and though the assessee had claimed that the same was kept by her in the form of cash in hand, it was noted that despite such huge amount of cash available with her she had taken loans thereafter and even made further withdrawals from the bank of substantial amounts. Moreover, the Ld. CIT(A) has noted that the assessee had claimed that the amount had been withdrawn for making investment and since the investment did n....