2023 (3) TMI 463

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....asad Rao, DR ORDER Per Shri Duvvuru RL Reddy, Judicial Member : This appeal is filed by the assessee against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi in DIN & Order No.ITBA/NFAC/S/250/2021-22/1036569377(1) dated 26.10.2021 for the Assessment Year (A.Y.) 2017-18. 2. Brief facts of the case are that the assessee is an individual, de....

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....sale of agricultural lands. The AO treated the sum of Rs.31,00,000/- as unexplained income u/s 69A of the Act and added to the income returned in the absence of any circumstantial evidence and also the time lag between the availability of the source with that of the deposit. 3. Aggrieved by the order of the AO, the assessee preferred appeal before the CIT(A) and the Ld.CIT(A) upheld the additio....

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....e of Rs.31,00,000/- made by the AO u/s 69A of the Act towards alleged unexplained cash deposits in the bank account of the assessee. The Ld.AR submitted that the assessee had received gifts of Rs.11 lakhs from his mother on 27.09.2015, Rs.10 lakhs from his wife on 14.12.2015 and Rs.10 lakhs from his father on 30.01.2016 on account of sale of agricultural land. The assessee further submitted that h....

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....r contra, the Ld.DR supported the order of the Ld.CIT(A) and submitted that the Ld.CIT(A) is correct in sustaining the addition made by the AO as the assessee could not adduce any evidence to substantiate that all the three i.e. his father, mother and wife have all deposited in the bank during the financial year out of sheer love and affection which is not acceptable in terms of timing of the tran....