2022 (10) TMI 1024

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....f appeal, the only grievance of the assessee is that the ld. CIT(Appeals) grossly erred in confirming the addition of Rs.11,17,300/- out of the total addition of Rs.15,31,000/- made by the ld. Assessing Officer on account of cash deposit in the Bank invoking section 69A of the Act. 3. Brief facts of the case are that the assessee is an individual and is a retired Government employee. The assessee filed his return of Income on 19.03.2018 disclosing total income of Rs.8,11,230/-. On the basis of information, it is noticed that there is a large amount of cash deposited in the bank during demonetization period as compared to the returned income. The assessee's case was selected for scrutiny assessment under CASS followed by serving statutory....

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....inuous Bank scam and online fraud and since he has no other source of income except pension, the assesee used to withdraw cash from the Bank. He also took us through the Bank statement showing that substantial cash was withdrawn amounting to Rs.18,07,000/- during the period 30.06.2015 to 09.10.2015 and the cash was lying with him and subsequent to the announcement of demonetization, the assessee deposited the said amount and thus the source of the alleged cash deposited is duly explained. 7. Per contra, ld. D.R. submitted that there is no valid reason given by the assessee for keeping huge amount of cash in hand and also stated that if the assessee was ill and suffering from various diseases, then how he went to the Bank to deposit the c....

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.... time to time during 30th June, 2015 to 9th October, 2015 totalling to Rs.18,07,000/-. There is no observation of the revenue authorities that the assessee has utilized the said sum for any other purpose. The ld. CIT(Appeals) gave part relief to the assesee for the sums withdrawn during the period from 31.10.2015 to 27.10.2016 but it is surprising to note that why the ld. CIT(Appeals) did not consider the cash withdrawals made during the period from 30.06.2015 to 09.10.2015. Prima facie it seems that the smaller amounts withdrawn by the assessee have been considered by the ld. CIT(Appeals) but the larger amounts have been left over. The ld. D.R. failed to controvert this fact that the ld. CIT(Appeals) has adopted choose and pick method to g....