2022 (11) TMI 1243

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....me barred by two days. After hearing both the parties, looking to the minuscule delay of just two days, I incline to condone the delay and take up appeal for hearing on merit. 3. Grounds raised by the assessee are as under: "1. The Addition made by the Ld. AO is unlawful and it is in violation of Law of Justice as addition is made without providing sufficient opportunity to appellant. The addition has been made on the basis of hypothetical situation which is not permissible to arrive at such a conclusion. Assessee had provided statement of credit card but he was not allowed further opportunity to provide evidence for source of cash deposited in Credit Card Account. 2. Further, an important point to note is that there wa....

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.... bearing No.0004377486941586313. During the impugned year, cash deposits were made in it towards the outstanding dues. In the faceless assessment framed, addition of Rs.6,46,600/- was made on account unsatisfactory explanation being given by the assessee of the source of cash so deposited. Before the ld.CIT(A), we find that the assessee filed detailed explanation of the source which reproduced at page no.8 of the CIT(A)'s order as under: Date Amount Source of cash deposits for credit card payment 23/4/2016 49000.00 Cash deposited through available cash on hand, from small savings and capital available on hand. 25/5/2016 33200.00 Such amounts were paid from withdrawal of Rs.3,54,000/- on 7/5/2016 from Account No.02....

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....t his friend Brijesh Dadhich had used his credit card for her personal use and paid cash in his account against bill payment but did not furnish any evidence in support of the explanation. Now during the first appeal proceedings the appellant stated earlier savings and withdrawals as the sources for the cash deposits totalling to Rs.6,46,600/- but did not furnish any valid reason as to why he kept so much cash with him when he was holding a bank account." 5. I have gone through the above, and I do not find any merit in the basis of the ld.CIT(A) in upholding he addition. It is a fact on record that the assessee had explained source of cash payment of Rs.6.46 lakhs giving source of every cash payment towards his credit card as be....