2023 (6) TMI 279

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....Section 115BBE on account of cash deposited by the assessee in his bank account out of cash in hand available with him which has been arbitrarily alleged to be unexplained. 2. That the appellant has duly furnished complete and verifiable explanation regarding the cash in hand available with him and the CIT (Appeals) ought to have deleted the whole of the addition which was arbitrarily made by the Assessing Officer. 3. The CIT (Appeal) has acted in a mechanical manner and there is complete non application of mind in upholding an addition of INR 12,40,000/-. 4. The CIT (Appeal) did not consider and take into account the overwhelming evidence produced by the Appellant which manifestly proves that the said addition of IN 12,40,000/- was i....

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....hree deposits of 25.10.2016, 28.10.2016 & 29.10.2016 totaling to Rs. 15 lakh but has not allowed credence of withdrawals on 05.04.2016 & 11.05.2016 of Rs. 5 lakh each totaling to Rs. 10 lakh without any basis. The ld. AR further drawing our attention towards para 7.8 & 8 of the first appellate order submitted that the ld. CIT(A) has considered the average withdrawal of Rs. 4.5 lac per month and has allowed credit of Rs. 9 lakh confirming the part addition of Rs. 12,40,000/- without any basis and ignoring the factum of cash in hand as on 09.11.2016 therefore entire addition may kindly be deleted. 5. Replying to the above, the ld. Senior DR supported the order of the authorities below. 6. On careful consideration of above, first of all, we ....